Construction financing and equity

Make it easy for yourselves. Go to a financial advisor (Dr. Klein, Interhyp, Hüttig & Rompf, ...) and see what they say. Also ask for a financial boost within the family circle. The net salary looks really good. How it would look during parental leave and possibly subsequent part-time work, you also have to calculate. See if you receive many gifts from relatives for the first child. How generous are the grandparents? Are you willing to buy used items or does it have to be the 2k € nursery? Once you have made a plan and the financial advisors give the go-ahead, I would say go for it BEFORE the children. Until you find something, you can still save rigorously.

We are currently building with a toddler. If the grandmas didn't step in like that, we would have serious problems. As fate would have it, my husband has had a herniated disc for 9 months and I have to do a lot alone. If you want/need to renovate the house, you will get into a similar situation.

Unfortunately, I couldn’t check earlier. Thanks already for the answers, even though I can’t respond to all of them.

So, I am a senior employee but not in the legal sense. Let’s call it department head, that fits best. So I have a completely normal termination policy.

As already mentioned, we haven’t properly calculated that yet. But we will do that. Regarding saving, etc., it’s the case that I haven’t earned that much for very long. I worked almost 1 of the two years for “significantly” lower pay. Then I was promoted, and for a bit over a year now, I’ve been earning just over 4k net. Since then, we have certainly treated ourselves well, but we haven’t thrown money away or anything.

In the future, we can definitely save 1,500€ per month for sure. Until the end of this year, I am still paying BAföG and the car. The student loan runs until the end of next year. I pay quite a bit monthly – I want to get rid of it quickly. So, little by little, we will be able to save more.

We probably don’t want to build. I experienced the stress when my brother built a house two years ago. That was enough for me... so it will very likely be something move-in ready.

Either way, we aim for a 3% annual repayment. We don’t want to pay off for 35 years with a significantly higher interest portion.

Presumably, we should at least have the ancillary purchase costs of 40-45K. Then I assume a serious financing option is possible. But we will have a consultation and also have everything calculated for us, that’s a good point.

We should probably at least have the additional purchase costs of 40-45K. Then I assume that a serious financing is possible. But we will arrange a consultation and have everything calculated, that's a good point.

That sounds better already. But you are worrying way too early. Pay off all debts & save. By then, several years will probably have passed and who knows what the market will look like. Doing any calculations now... is pointless...

It can also be worthwhile not to repay BAföG/student loans right away. Why repay that and then take out a mortgage with less equity? Why don’t you repay BAföG all at once? And by the time you find something good, you have probably already saved enough capital.