Buying a townhouse as a single person. Possible?

Hello everyone,

I have been registered here for a long time.. Owning property has always been my dream. I was able to read a lot. Now I need concrete help with my project.

I want to buy a corner townhouse. Without a basement. 133 sqm. 2.5 stories. Price 209,000 eur. Kfw 70. Small plot, meaning mini garden. New build. In the countryside.

About me: 28, m., 2800 eur/month net, permanent employment contract, secure job in a 30,000 employee company, bonus/ Christmas money about 5,000 euro/year.
Equity.:
* 29,000 in the building society savings contract (not eligible for allocation)
* 9,000 invested in stocks (capital gains tax included)
* 3,000 in the daily money account

So about 40,000 eur.
32,000 of that should flow into the financing.

I still have a car loan, which will be fully paid off in mid-June, one year early.

I wrote a household budget. To be able to continue living as before, I could pay off a maximum of 1,000 euro per month. (This roughly corresponds to 35% of the net salary) Special repayments possibly. But probably only after 4-5 years .. by then I should have saved some buffer again.

Prospect of inheritance: none.
No family planning, as no wife :D.

Since I work in shifts, I could take another 450 eur job at Aldi or Lidl and fill some shelves. But I would never include the money in the financing. It is only supposed to give me security. If my employer even allows that.

Sorry that everything is written a bit mixed up.

What do you think?
I have a first appointment at a bank on Monday.

Thanks
Marcus

What I forgot: No broker commission Turnkey house. Only floor and wall coverings still need to be done (own work). The "mini garden" is already prepared, terrace is laid out.

Equity, loan, and income fit.

I am surprised by the low purchase price. But it seems to fit.

I think the bank would accompany you.

Only the floors and wall coverings still need to be done (own work).

So 209T + 5% tax + ~2% notary = ~224T€ + 10T-15T? to finish the place = 234 - 239T investment volume - 32T equity = 202 - 207T loan Loan costs will be between 690€ - 850€. On top the monthly operating costs. ~2.5€ per sqm = ~330€

So 1020 - 1180 € go every month for the house. Now you have to know if that fits for you.

But I would definitely get at least a second offer, or contact a financial broker.

Very good conditions and if the building savings contract is not yet eligible for allocation, it can possibly be made eligible by splitting or topping up the credit. If necessary, it might then need to be temporarily financed cheaply for a few months until allocation.

A burden of 1,200 euros is not necessarily required, I would set a solid basic or mandatory burden and make special repayments or the saving of a building saver on a voluntary basis. If I have saved enough in case of intended special repayments, I save money for another year, then also save something the second year and if both are available, I make half as a special repayment. In the third year, I then save the next amount again, so I always have reserves available.

I currently believe a combination of an annuity loan with 10 or 15 years of fixed interest and a replacement building saver makes sense. Here I save in parallel to the annuity a suitable and individually selected building saving tariff, in order to repay the outstanding debt after the fixed interest period ends. This way, a great mixed interest rate with 100% interest rate security and absolute flexibility can be achieved over 20 or 25 years.

I can only encourage you to further concretize and realize your project.

Thank you very much for your participation. I am very glad to have received positive responses. I know the forum and it is often very critical with a lot of questioning.. which is also right. No one should get into debt. That is why I also created my post, so that one or the other takes a look at it. That gives me courage.

I will also visit other banks, insurance companies and ask for a loan offer. And I will post the results here. Maybe one or the other can also give their opinion on this. That would be great,

Best regards ..
Marcus