How much of a €9,200 post-closing buffer should stay untouched?

€9,200 is not much margin for error. My specific concern is that several ordinary inspection items could consume it even if there is no major roof or boiler problem.

That is what I expect to have left after the deposit and estimated closing expenses on a 5-bed Munich townhouse costing about €354,200. Before buying furniture, I would need to set aside the opening mortgage instalment, moving expenses, an insurance deductible and any recurring property charges. The inspection would then determine which repairs need money immediately.

Would it make sense to ring-fence those fixed items and an untouched emergency reserve first, then use only the balance for urgent findings and basic furnishings? I’m trying to identify the point at which reducing the purchase budget is safer than stretching this buffer across too many categories.

I wouldn’t divide the full amount in advance. First ring-fence the first mortgage payment, moving costs and a genuine emergency reserve, then let the inspection determine what is available for repairs. Furniture beyond the essentials comes last.

Also, clarify whether the townhouse has recurring service charges and when they are due. With only €9,200 left, one overlooked closing or moving expense could change the calculation considerably.

My caveat is that €9,200 may already be too thin for a 5-bed property if the inspection identifies several medium-sized jobs rather than one obvious emergency. Don’t focus only on the roof and boiler: ask for costs and timing for every finding, then separate urgent safety or water-related work from items that can wait a year. If the untouched reserve disappears on paper before furniture, I’d lower the purchase budget rather than allocate the buffer more cleverly.