Condominium for 460,000 euros and a 37-year loan term?

With rent prices around 10 to 12 euros/sqm, the cold rent alone would at least equal the loan amount (of course, the 160k € are still there for that).

Which makes this a realistic alternative. More than 100k can be invested economically better than in a self-occupied property. Purchase incidental costs are eliminated, which is no insignificant amount.

However, I also believe that the project is feasible, it just requires strict discipline. I would never finance for 30 years.

An apartment in such a location is generally always marketable; in an emergency, part of the equity can thus be released again. I write this only because I do consider renting a viable alternative.

Whether your income can be increased beyond the usual collective wage agreements only you know. The 1-2% per year are swallowed up by inflation anyway. The only advantage of a long fixed term is never having “Mieterhöhung” again. But those who work 80% and are reluctant to increase to 100% will hardly push forward in their career. Which is also ok.

The only advantage of a long fixed term is never having a "rent increase" again

Just call it inflation protection. Housing costs (usually the largest single item in the household budget) are fixed. Salary rises, housing costs do not. That’s exactly the beauty of it. Debt loses value thanks to inflation.

One could also argue that they both work part-time and thus have two levers to increase income if necessary. Or one interprets two part-time jobs negatively, as was done before.

As you can see, it all depends on the perspective, and therefore your attitude towards risk is probably decisive.

One could also argue that they both work part-time and thus have two levers to increase income if it should be necessary. Or one interprets two part-time jobs negatively, as was done before.

As you can see, it all depends on the perspective and thus your risk tolerance is probably decisive.

However, there is no right to return to full-time, at least not yet.

But yes, they can definitely increase their hours.

Has anyone actually noticed that this is about a condominium? In addition to the installment of €1221, the usual Hausgeld and the usual ancillary costs that also have to be paid come on top. So where does that put us, at €1700 in total? So nothing with max €1200, right?

So you have €2000 left to live on. From that, daycare/kindergarten needs to be paid twice, cars, vacations, living expenses, insurance, occasional purchases, etc. I don’t find that very appealing.

The property will probably mean a lot of discipline and sacrifice for you.