Is €35,880 enough cash to keep after buying a detached home in Barcelona?

T

thinkTheView

Homeowner
The house looks well cared for and the mortgage is manageable, but I hesitate to treat either point as proof that our reserve is sufficient. We expect to retain about €35,880 once the deposit and projected purchase costs are paid.

That money would need to cover the move, basic furniture, the first mortgage payment and any immediate work identified through the inspection. We can postpone most furnishing, but not a repair that affects the use of the house. Would you judge this mainly by the inspection findings and our itemised first-year budget, or is €35,880 too narrow a cushion for a detached home in Barcelona even when the regular payment is affordable?
 
€35,880 sounds potentially workable, but only if part of it remains a true emergency fund rather than becoming the furniture budget. I’d list moving costs, the first mortgage payment, insurance and any known immediate work, then ring-fence several months of essential spending. What does the inspection identify, and does your figure already allow for the insurance excess?
 
One further thought: don’t treat “maintained” as meaning no early spending. Small repairs, appliances and moving-related purchases can arrive together. Furniture is the easiest category to delay, so I would plan only the essentials before completion and add the rest room by room.
 
I’m a little less comfortable than Aisha. The number is not the whole test: if €35,880 is all your remaining cash, it has to cover both ownership surprises and any unrelated emergency. I would also confirm whether there are service charges or other recurring property costs despite it being detached. If the inspection finds expensive near-term work, delaying could be sensible even with an affordable mortgage.
 
Make three separate pots on paper: unavoidable move-in costs, likely first-year property spending, and money you will not touch except in an emergency. Include the first mortgage payment rather than assuming its timing will fit neatly with closing. Then rerun the plan using only essential furniture. If that still leaves an emergency reserve you consider adequate, the decision looks much clearer; if not, you’ve identified the actual shortfall.
 
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