Do you consider a loan in the area of 275k feasible?

Hello,

I have been a silent reader for a long time and have been following the posts with interest.

At the beginning of the year, we had the opportunity to buy a house. After much consideration and calculation, we declined.

The situation was as follows:

Object:
House built in 2008, 150 sqm living space, well maintained, carport with shed, landscaped garden, fully basement.
Purchase price: 380,000
Additional purchase costs: 20,000 (no broker)

Financing planned at that time:
Equity: 125,000
Loan: 275,000
Installment: 1100 euros
2.5 % repayment

Budget:
Income: 3550
Monthly expenses (all, incl. insurance, vacation, groceries, ...) determined over 2 years of household bookkeeping): 2000
House running costs: 300
Reserves: 150
Leftover: 1100

Allowances (Christmas bonus, holiday pay, overtime) of my salary are not included.

Our total net income is currently divided into 3100 + 450 (mini-job). This will remain the same for now as a second child is planned.

Currently, we are looking for cheaper properties (terraced house or semi-detached house) but have not found anything yet. An alternative would be to build ourselves (without a basement), although we would probably end up at the total costs mentioned above.

How do you assess our possibilities? Do you see a loan in the range of 275k as feasible?

Thanks for your opinions!

Reads a bit tight, especially if another child is planned. Then expenses increase again.
Are the reserves purely for the house or are these the total reserves for house, car, and other things that might break? For the house, okay, for everything else too little. Also, from my own experience with buying a house, expenses increase as well.
On the other hand, you are not including the allowances.

Personally, the rate of €1100 would be too high for me. Nothing can go wrong then.
But I am also the cautious type who prefers a somewhat lower rate and handles the rest through special repayments. This also requires discipline to really set the money aside.

Additional costs house... 300€

: Reserves would only be for the house. For everything else, I have already planned the allowances as you mentioned. Thanks for your feedback!

: I had received the additional costs from the seller back then (all converted to a month): - Gas 80 - Electricity 80 - Waste 10 - Sewer 31 - Property tax 18 - Water 27 - Chimney sweep 5 - Building insurance 26.5

The setup is okay in that respect, I think. It seemed/seems low to me... However, I also include GEZ, household insurance, and Telekom. Also the heating maintenance. Personally, I would increase it a bit for later calculations.

Alright, you have a lever. Your wife could work part-time.