30 years (fixed interest rate) 90% financing realistic?

Hey, not so generalizing. Our 60x60 tiles for everything except bathrooms were priced at 25€/sqm. Of course, we could have also chosen a similar shade of gray for three times the price.

Okok, that was really very generalizing of me. Did you also choose the tiles in the sample display (from the developer), or did you get them yourselves?

Okok, that was really very general from me. Did you choose the tiles from the selection (by the developer), or did you get them yourselves?

Croonen in Hamburg. Specification from the general contractor. This tile decision was made in 5 minutes. The bathrooms took longer. And were significantly more expensive.

And it is still no guarantee that you can apply this to everything and always.

Up for some risk? Then:

Offer a 10-year fixed interest period with reasonable repayment. Hopefully lowers the interest rate.
Income might improve. If it no longer fits, then sell the place. In the region, likely achievable with little loss.

Thanks for all the feedback! Actually, I named wrong figures above. It is a net 5000 without and 5400 with special payments calculated per month in order to be able to service the rate of 1950. That is 39%, below the 40% which I have often read as the maximum recommendation. However, I am unclear whether this rough recommendation also applies to a 30-year financing. It is a ready-to-move-in purchase from the developer (i.e. incl. wallpaper, floors, etc.) "without further/hidden costs." Does the statement "it always gets more expensive" also apply here? 600 commission-free + 6% property transfer tax + 1.5% notary costs + 0.5% land registry costs = 648 TEUR

sorry don’t be mad at me, but even the 400 € more won’t make the difference. Sounds stupid now, but you are "too poor to build a house in Rhein Main." I am also in financial services in Rhein Main. I find your net income very low. You are probably somewhere in the back office. Colleagues who build in such dimensions have a net income of 4,500 upwards alone. If you are in services, you should create a timeline, your net incomes, then the phase when there are children and calculate it all through. You alone pay 1,900 € for the loan. With incidental costs, one income is gone! The second is then halved with the children.

Always generalizations... I did not spend €35/m² on tiles in the bathroom (but a few pennies on pretty borders!), and I myself just thought "wow" when I saw it... and recently a visitor said it out loud: absolute wow effect. There was a wide selection in that price range at the tile center, so you could find something. Otherwise, the thing is really quite sporty. But I think the idea of a full amortization and securing the interest rate over the entire term is a great thing. It is very tight in the first years now, but the rate remains constant and hopefully incomes will at least increase by the inflation adjustment. The family planning will probably have to depend on when the situation has relaxed a bit and possibly a reserve has been saved to bridge parental leave. By the way, I find the terms good... I took out a loan a year ago, 15 years, significant remaining debt, which I have to refinance at unknown terms... and 2.3% (with a similar equity ratio). So 1.55% for the entire term is a great thing... bringing the risk of follow-up financing into the house, then in 10 years, when maybe one parent works part-time... no thanks! It won’t get better. And still, honestly: I would only do the project if there is a justified prospect of salary increase. Otherwise, it’s borderline tight, and starting a family will be postponed significantly.

5400 EUR would be too little for such a construction project for me. It might barely work if your top priority is the house. But that also means if you have a child, you have to go back to work full-time as soon as possible. For you, it’s already tight during the parental allowance year. Childcare must be secured and paid for. Even today, it’s still a problem to get a 9-hour childcare spot for the child. And think carefully about whether it’s worth it. I don’t believe that children necessarily suffer from that much external care, but it creates enormous stress in the family. Who takes the children in the morning? Quickly to work, preferably no lunch break, unplanned overtime will cause the whole house of cards to collapse. Picking the children up late from care, maybe doing some shopping. The little one is totally tired (daycare is more stressful than an afternoon at home), quickly rushing home. Making dinner, loading the dishwasher, putting the child to bed and doing it all again the next day. Traffic jams or train cancellations on the way to daycare already ruin any scheduling. I didn’t want to live like that. For me, a house isn’t worth that. Better to rent and still live.