Consideration and feasibility of buying or constructing a property

Roughly estimated, financing of about €220,000 - €250,000 should be possible with these finances. Problem is, for €250,000 you don't get anything here, and if you do, it needs renovation and repair.

Although my salary will increase again in about 2 years, there might be another child, so the financial situation will not change much in the coming years.

Therefore, we have considered buying something together with my mother. She would bring about €50,000 in equity (as a gift to me, I would be the sole heir).

She would then pay a small rent of about €250-300.

I haven't read the whole thread, but I want to say something about this, because you're not the first here with such thoughts. Please don't take it personally.

How do you come up with the idea, if you don't earn enough yourself, have little equity, and the money only suffices for an unrenovated existing property,
that you could buy 1.5 (granny flat), better yet two houses, if mom brings €50k and then only has to pay a small rent afterwards?
There have even been cases here like "parents bring €50k and then live rent-free," ideally crowned with registered right of residence, because banks love that and the property is guaranteed to appreciate in value...
Or these cases of early inheritance of the parental home. Then the low-income questioner is supposed to polish this nicely into a new build while the parents live with registered right of residence in the main apartment. Has everyone forgotten how to calculate by now?

This logic simply doesn't make sense to me.

Thank you for your advice.

Best regards, Alex

I did read your post when it wasn’t shortened yet. The problem is not your household income, but the prices currently demanded to buy a property. The prices right now are just not affordable for everyone, as much as I would wish otherwise. My parents had a nice semi-detached house built by a developer in the Lower Rhine region in the early 2000s, 178k€ with a solid double garage. But they also had to accept about 7% interest with a fixed interest rate for 5 years and then repaid at 1%. They are still repaying and will only be finished in 5-6 years. They had a bit more available than you do now. We are also only building because we have 2500€ net more than you do now and dare to take on the current amounts, but only with misgivings because the sums are just so hefty for a normal single-family house. I could not afford a new additional tenant apartment or a two-family house.

Just keep an eye on the existing market and be quick if in doubt. Otherwise, just hope that the market has calmed down in 5-10 years and, above all, save up equity until then so that you are not so dependent on the interest rate situation.