130 sqm detached house or townhouse with my budget of 220k

The banks tell you what is possible. Whether it makes sense, they do not tell you. The bank does not care if you end up in personal bankruptcy. The bank gets your house. In the area of financing, greed responds, not reason. You are running into an open trap and the bank pops the champagne corks.

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Dear Steffen,

here I want to, no I must vehemently disagree with you.

A banker who takes his profession seriously is indeed very interested in whether his client's financing is sensible and sustainable in the long term.

No banker, for their own interest alone, is interested in having to hand over a loan case to the "enforcers". A banker also has a reputation to lose – anyone who intentionally advises their clients in a way that, to put it bluntly, makes them "fall flat on their face", certainly will not keep their job for long and rightly so.

The persistent rumor that a bank earns a sack full of money on every foreclosure is unfortunately impossible to kill.

The considerable expenses (in money and working hours) that a bank incurs with a foreclosure are gladly "forgotten".

In many cases, the bank still lost money even after the foreclosure.

I can assure you that the majority of bankers are still honest and see themselves as partners and advisers to their clients. I see (and verify) this every day in my job.

Of course, there are exceptions in the banking industry, but I think this is no different in any other industry.

The widespread assumption that every banker automatically becomes a millionaire through commissions and bonuses is complete nonsense. This applies, if at all, only to a (very small) part of investment bankers.

Therefore, I am happy to occasionally spill some insider information here to stimulate the discussion participants to think.

After all, not every entrepreneur is a ruthless exploiter and oppressor of people, right? ;)

Best regards,

Dirk

I can assure you that the majority of bankers are still honest and see themselves as partners and advisors of their clients. I see (and check) that every day in my job.

Thanks again. You are talking here about mid/end 30s. Do you mean I will have paid off a condominium in 5-10 years? That is of course a different approach.
Best regards

The recommendation for a condominium rather aims at you bringing the partially paid-off condo as equity into the house. It wouldn't be my case. Basically, you use the condo as an investment and that represents a huge "concentration risk." Everything has to work out for the calculation to add up. Location, demand in 5-10 years, and so on...

I would rather pay rent and save on the side. Overnight money/fixed deposit and if some risk is allowed, also an ETF (preferably index fund) savings plan. Whether you pay a few hundred euros monthly in interest or rent... Additionally, there are extra costs from the condo regarding moving, small things like lamps, windows, etc., which mostly come up twice.

Regards, Steffen

As far as I’m concerned, all consultants and bankers can be abolished. Intelligent software does the job much better anyway