Buying a house as a single person? Various questions!

Hey back

I am now 28 years old, live in Münster, have been single for quite some time and am considering buying a condominium or a house. I have been a civil servant with tenure for 3 years and currently earn a net income of about €1800 (contributions for private health insurance and similar are already deducted). I have saved about €36,000-40,000 in equity so far in my life (among other things, I have a building savings contract and am not quite sure of the current amount – hence the approximate savings data. ... What do you think about it? ... do you have any tips on where I could get more concrete information (other than at a bank)?

If Münster weren't so far away, I'd say, let's go drink 10 liters of coffee sometime

You have already received many good answers and I will not write anything about financing anyway; look for a good and independent financing advisor/broker => and by this I do not mean the three-letter companies that started with selling life insurance policies

Münster is not as expensive for home ownership as, for example, the Rhineland or further south. If I were you, I would start with a condominium; look around further out as you can find good offers for a 2 or 3 room apartment for €70,000 - 100,000 and not in a huge block of flats; you will surely be able to handle the monthly additional costs and reserves as well.

If, contrary to your own expectations, your life situation changes, you can rent out or sell the condominium; if you paid close attention to the choice of neighborhood. In this way, you have definitely invested your hard-earned money well and increased your equity

Kind regards

hehe with us you won't get a 2-room apartment for 80,000 ... unless it's [BJ 1900]
That's probably why there are different assessments

When I’m looking for a condominium, I would only want a 3- or 4-room apartment and pay a max of €120,000. What many might have missed in the text - the potential condo doesn’t have to be in Münster but I would rather look for something outside and more in the countryside (area: about 10-30 km). I would never buy an apartment or a house directly in the city but at most on the city outskirts... And the condo doesn’t have to be newly built - of course that would be better, but if it is a well-maintained "used apartment" then I wouldn’t say no and would renovate/reshape some things myself according to my ideas. Maybe it is really better at the moment to first invest in a condo with 3 or 4 rooms. If later I still want to have my own house, maybe have a family, then I can sell my apartment again (condos in the Münster area usually sell quickly - and tenants are also found very fast!). I just simply don’t want to keep paying rent for years - with €630 for 56 sqm I’m already paying quite a lot. I do live in Münster, but I can also gladly do without the city life. I think I will soon consult a financial advisor and get him to tell me what he thinks is possible. Then I’ll know in which price range I have to search. Good plan?

Hello Der Da,

hehe with us you won't get a 2-room apartment for 80,000 ... unless it's built in 1900
Maybe that's why there are different assessments

Before my answer, I briefly visited a real estate portal and searched within 10 km of Münster. The offer literally flooded me; from new to well-maintained older to very old, from apartment buildings to attic apartments in a two-family house, everything was available in the mentioned price range. However, these were 3-room apartments – I didn't think Cinderella might be interested in a 4-room apartment

In your region, you wouldn't even get a weekend house for that :-(

Kind regards

In your region, you can't even get a weekend house for that :-(

Just like with 350-800 € per square meter of land But if you jump 20 km over to the Palatinate, it looks completely different Or just 25 km into Alsace.

As with 350-800 € per sqm of land

No wonder that you always mention prices here that make me wonder how anyone is supposed to pay that. The average plot already costs more than our complete build including 540m² of land.