Buying an existing semi-detached house - Is financing possible?

Hello everyone,

My girlfriend (29) and I (31) are considering buying an existing property. We have found something suitable. It is a semi-detached house from 1996 with 121 sqm of living space and a small plot (304 sqm). The whole thing should cost 147,000. The land belongs to the church ([Erbbaurecht]).

Attached you will find our current financial overview. From your point of view, is it possible to finance this project with a clear conscience? Equity of about €16,000 is available, of which no more than €11,000 should be used to keep reserves.

In the long term, my girlfriend's salary will make another jump upwards within the next 5 years (currently a 3/4 position and she is undergoing further qualification). My salary will increase moderately.

Planned but not yet present is offspring next year.

In your opinion, is a house of this size financially feasible?

Thanks already.

Attached you will find our current financial overview

Forgot?

Otherwise, be sure to check the lease agreement!

Hmm, it was probably swallowed. Attached is the overview.
Regarding the lease agreement, we already know the following:
- The land belongs to the Protestant Church
- The contract was concluded in 1996 for 75 years
- An extension is possible without problems, but not earlier than 20 years before expiration

- An extension is possible without any problems, but no earlier than 20 years before expiration

And under what conditions? Now as well as later?

Regarding your attachment: the last column on the second page is unfortunately difficult to assign. Please save it again: possibly reduce the margins or set the page landscape ;)
What I notice: over 3000 costs seem quite high to me, but I cannot assign the items.

So, now then. Again with the appropriate attachment.

I do not know the conditions that precisely yet. We had the initial inspection of the property today, so we have not gone into detail yet.

The costs are high, among other things, because:

- 225€/month reserves for vehicles (we have 2)
- 200€/month fund savings plan
- 310€/month continuing education costs of my girlfriend (which will, however, prospectively disappear at the end of next year. However, we want to have children by then, which will balance it out again)

Riester Risk Legal protection

3 unknown Rs... I like to opt out here and hand over to financial experts, as I am not familiar with Riester :) What is covered by life risk insurance??? What is the expensive legal protection for? Intent to sue?

However, you should plan for: additional housing costs of about 300 to 400 euros, with a used property it could also be 500 due to higher energy costs. There isn’t much financial leeway, children are planned too (whining about further education :oops:)