Hi everyone,

I'm 25yo and recently bought my first apartment to rent out. Currently living at home and plan on co-housing in the future. Bought it as my "eerste eigen woning" under the 3% registration. Paid 170K, financed 115K (580€/month) hypotheek and 8K (36€/month) renovation loan (both 25 years) at 3.5% i. EPC D, build year 1998. Plan on renting it out in 3-4 months @800-825€/month.

I have a two-way strategy. 1) getting a good revenue from rental (5-6% gross/year) based on value property 2) Exit scenario to sell it by creating value (changing electrical heaters by a warmtepomp for improved EPC new kitchen some paintwork in the bathroom).

My plan would be to refinance the loan in a couple of years (when intrests are hopefully lower and RE prices have risen a little) at a 80% loan to value. So I get more equity in my hand to buy another property.

I'm just not sure if the renovations will be worth it. Price quotes -Warmrepomp: 5K -Kitchen: 4.5K -Flooring: 1.5K -Misc:1K --> 4K out of pocket 8K reno loan.

The apartment was rented out before in the currect state @780/month. After renovation I suppose 800-825/month would be correct.

Would you do the renovations? Or skip them and focus purely on my rental revenue and put the reno budget into my etf's.

Current situation: 10K emergency fund 18K ETF's 11K crypto 65K equity in apartment 3-4K pension fund

Goal: basic financial independence asap @2.5k net/month.

Thanks for your insights :).