Buying property feasible - Loan with building savings as equity?

So 1000 euros "warm". From that we deduct a flat rate of 400 for recurring additional costs (heating costs, charges, insurance, maintenance, ...) (we do not know what kind of property it is supposed to be, house or apartment?), which is already moderate. Then another 1% (already very low) for the formation of reserves (after all, you don't want to take out a loan when the facade needs to be done in 20 years, the roof leaks, or a new heating system is required). So 600 euros monthly, and the bank has not seen any money yet.

The additional costs are 3.5% tax, 1.2% notary and land registry, and optionally 3.5% broker, so 7-8%. Not included yet are the move (full service or friends?) and renovations. If you search at the very bottom of the price scale, then you can roughly add 40k for a house, but it depends on the individual case. To what extent the bank includes renovations as value increases or not, or sends an expert, is up in the air.

In any case, I do not see how you want to stay below 100% loan-to-value. Your current equity capital is anyway what one normally should have as cash reserve.

I cannot imagine the monthly rate of 614€. With 100% financing, you have a significant interest surcharge. And with such a high debt burden, you should also repay more than 2%.

For a property of 200k (including necessary renovations!), I would start considering a solid financing with 50k equity and 800 to 1000 euros monthly rate.

P.S. If children are planned, you should remember that temporarily one income will drop out or be replaced by parental allowance, and then possibly will not return 100%.

50,000 € is a lot of money

Yep, 100000 even more.
If you can’t answer the questions yourself, you’re just as baseless as your 50000 ... where do they come from now?

From the post above.

I advise against purchasing a property under these conditions for the time being.

My advice: First, repay existing debts as quickly as possible. Then save equity.

Certainly, financing will already be offered now, depending on the [Schufa].
Most likely, this would be through a [Bausparvertrag].
However, I would like to point out that family planning is still in its early stages and that in the future one will have to manage on a single income.

Yep, 100000 even more. If you can't answer the questions to yourself, you're just as baseless as your 50000 ... where do they come from now?

From the post above.

I see, i see.... :)