Before making an offer, I need to decide whether to bid on the 4-bed duplex I like or step down in price to protect my cash position. At about €317,400, the purchase would leave me with around €38,640 once the deposit and expected completion expenses are paid.
That sounds substantial until I list everything that may arrive soon afterwards: the move, inspection items, service charges, an insurance excess, furniture and the opening mortgage instalment. I also want a genuine emergency reserve rather than mentally assigning all the cash to the property.
How would you split the €38,640 before committing? My instinct is to reserve the emergency fund and known early payments first, fund only repairs that cannot sensibly wait, and live with basic furniture for a while. The inspection may reveal routine first-year jobs, though, and I’m unsure how much should remain unallocated for those. Yesterday the compromises seemed manageable; today they feel much larger.
That sounds substantial until I list everything that may arrive soon afterwards: the move, inspection items, service charges, an insurance excess, furniture and the opening mortgage instalment. I also want a genuine emergency reserve rather than mentally assigning all the cash to the property.
How would you split the €38,640 before committing? My instinct is to reserve the emergency fund and known early payments first, fund only repairs that cannot sensibly wait, and live with basic furniture for a while. The inspection may reveal routine first-year jobs, though, and I’m unsure how much should remain unallocated for those. Yesterday the compromises seemed manageable; today they feel much larger.