How much of a DKK 260,300 post-closing buffer should stay untouched?

A

alba_finance

Buyer
Established
DKK 260,300 is the amount I would have left after the deposit and estimated completion expenses on a 3-bed serviced apartment in Copenhagen priced near DKK 8,734,000. The inspection report contains a long list, and I cannot yet tell how much requires prompt attention rather than monitoring during the first year.

How much of that cash would you leave completely untouched? I need to cover the first mortgage instalment, service charges, moving expenses and any repair that could deteriorate if postponed. Furniture can wait. My concern is that buying at my upper limit would make an ordinary defect feel urgent simply because there is no room in the budget.

My next step is to price the time-sensitive inspection items separately. I would be interested in how others would rank the remaining priorities.
 
I would divide it by urgency rather than evenly. First ring-fence enough for several months of essential outgoings, including the mortgage and service charges. Then reserve cash for inspection items that could worsen if delayed, plus moving and the insurance excess. Furniture comes last: use what you have and add pieces gradually. Also keep the first mortgage payment separate so a timing surprise cannot consume the repair pot.
 
Before deciding whether DKK 260,300 is comfortable, do you know when the first mortgage payment and service charge fall due? Also, does the estimate include utility connections, movers and any overlapping housing costs? Those calendar details can matter more than the total because several payments may land together.
 
I agree that furniture should be delayed, but I would not assume every item in a frightening inspection report deserves a cash allocation. Sort the findings into urgent, monitor and cosmetic, then obtain estimates for the urgent group before committing.

That said, the buffer is small relative to an DKK 8,734,000 purchase if it must cover both income disruption and building work. If the urgent estimates, moving costs, first payment and insurance excess leave no genuinely untouched emergency fund, buying below the maximum is the safer trade-off.
 
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