Construction costs and financing for apartment or house

Maybe the house in Bitterfeld is simply unsellable because nobody wants it and everyone can build new. The scarcer and more expensive the building land, the more likely people are to buy an existing property. In the countryside, where building plots cost 31.50 EUR every hundred meters, hardly anyone will buy an existing property or only with strong discounts.

It also makes a difference whether you find a buyer within 2 weeks or 2 years.

That's exactly how it is. When the market turns, the "villagers" end up empty-handed long before. Although real estate is still significantly cheaper in the "village" even today.

Then you pay the difference on your earnings. That's how we do it too. When we signed the loans, the "clock" showed 100k less. Currently, about 50k is missing again. But that's not a problem because we won't move in for at least 10-12 months. By then, I'll have it together. That should also be possible for you. From 7500, there should really be a big chunk left over

You can't know that, it's even very unlikely. We have an income in the same range, but by the end of the month, only a mid three-digit amount remains. If we had an income of 10,000, I would say today that we could then save 2500, BUT I imagined something similar when I still received 550 euros BAföG and thought about my income as an engineer.

You can't know that, it's even very unlikely. We have an income in the same range, but by the end of the month only a mid three-digit amount remains. If we had an income of 10,000, I would say today that we could then put 2,500 aside BUT I imagined something similar when I was still receiving 550 euros BAföG and thought about my income as an engineer

Well, if you seriously consider purchasing a private property for 950K€ and then assume that with an average salary of 7,500€ net you suddenly run out of steam if the price rises to 1 million, then something was already off beforehand. The OP also mentioned somewhere, if I recall correctly, that he is calculating with a rate of about 2,600€ so that he doesn't have to give up vacation and other "remaining life" activities.

So there is still a long way to go until the sausage runs out in the fridge.

Best regards
Dirk Grafe

So it is still a long way until the sausage is missing in the fridge.

Yes. But it was discussed that given the credit and the installment, maybe 50k could be missing, and Steffen said that this could be saved from the current salary over 10-12 months. That certainly doesn’t work. Going from 2,600 to 4,000 would also be a long way.

Before or after the home financing

Not much difference. We pay more rent than the installment amount and also bear all incidental costs, as it is as a tenant in a single-family house.

The starting point for this small subtopic was 7500 euros/month *net*. If less than 1000 euros are left at the end of the month, then I wonder how equity was saved up and how that is supposed to work at all. However, you may have already accounted for asset formation, so that *only after* deduction of private retirement provision and free savings, 300 to 700 euros remain each month. That is then used to pay for vacation, for example. If you really consume on the order of 7000 euros, then I would be interested to know: For what? Pure curiosity

This discussion once again shows who has their preferences where. If you want to be close to the city, you pay a fortune. The OP is aware of their situation, just might need to add a few more euros onto the house.

We consciously moved away from the big city of FFM to a small town. Yesterday was the first time playing soccer at the club with my son. You know the people from various children's clubs, simply different from those big cities where everyone wants to move to and nobody wants to know anyone.