Amount of the monthly installment

Do you (almost) all seriously believe that an average earner can never afford a little house? Is it only possible with a monthly net income of at least 3k per person and preferably equity amounting to at least 50k? Well then, I don't know how the others here in the circle of friends, acquaintances, and family do it.

I hoped to get some experience values from others from this post....e.g. income comparison rate.

There is the search function for that.

I think it is not constructive to approach the OP like this here... One should rather give her tips on how to make the best out of the situation: - have the contract checked - go to a financial advisor - definitely do not build bigger The income is already sufficient, no equity is obviously unfortunate but also manageable.

I also think that this is getting a bit out of hand. What is this supposed to be, and who does it benefit?

In my opinion, the problem is not that you didn’t read the contract or that you didn’t understand it. The problem is that the contract, if it is from Town & Country, usually isn’t comprehensive enough for you to really have a move-in ready house at the end with the money you spend.

That is the point. It sounds as if you believe that after your comparisons and your reduced expectations you will really achieve your targeted costs here. Almost everyone here doubts that – including me, by the way.

But you will have to experience that yourselves. My only recommendation is NOT to consider any expansion but rather to hold onto any existing reserves tightly. In the end, having is better than needing. But you will probably need.

What is your total budget for the entire project, that is all in with land, house, all additional costs, kitchen and all furniture? So really move-in ready in the literal sense?

You are lying to yourself there. If you, for whatever reason, go bankrupt at some point, the bank gets your parents' house, and you are aware of that at that moment since you include the house as collateral!

Regarding the security, I agree with Wilhelm. If you include it as security and you yourself go bankrupt, your parents' house will also be lost if your resale price is not sufficient.

I would be curious, though, how the parents' house improves the loan-to-value ratio

I would be interested in that too. "Back then," the Dr. Klein advisor advised us to encumber my parents' house as well in order to get better conditions. However, I did not want that and therefore didn't even ask them if they agreed, among other reasons because they have not yet transferred it to me, even though I am the sole heir and it will be mine someday (hopefully in the very distant future). To be precise, I found the suggestion rather cheeky, because in the worst-case scenario I would have not only harmed myself but also my parents, who live in a completely debt-free house.