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Too far and too expensive?

When we started searching our new home there were three major requirements: single floor, closer to the city center / railway station and cheaper price & expenses (with set maximum price). The first one is absolute requirement but the later two are negotiable: cheaper can be a bit further away or we could be willing to pay a bit more if the location is perfect.

The one we saw yesterday fulfilled the first requirement, but failed on both of the other. It's about 10 more minutes away from the station than our current one and it's also around 10% above our price range.

Despite not meeting more than one out of three requirements we haven't abandoned it just yet. It has a lot of good things and even more potential with a small makeover (which would push our budget even further). It also doesn't have too many minor cons either. It's a bit older house, so some things are a bit dated. It has a bit too limited storage space and the two bedrooms are both a bit small. It also only has one WC although the other bathroom has everything except the toilet seat. And there is no direct access to the terrace from sauna, you need to go through the whole apartment to get there.

On the other hand it has really nice open floor plan that can be further expanded by tearing down the remainder of the wall between the kitchen and the living room (kitchen needs a renovation anyway). The sauna is really nice with a spacious washing areas and dedicated "dressing room" with a fireplace. The yard is quite big, but it hardly requires any maintenance as almost half of it is covered with a huge terrace and the rest is a sort of wild garden. It has really low living expenses and both economical and ecological geothermal heating (and not so ecological, but much desired cooling as well).

If nothing better shows up soon I think we are going to have another serious look at this one. It all comes down to how low can we negotiate the price and how much more loan we would need for the renovations.