End-terraced house 485,000€ credit loan. Is house purchase financeable?

Hello,
myself 37 and my wife 35 are planning to buy an end-terrace house in the near future.
The current situation is somewhat difficult and the high prices do not exactly make it easier for us to decide to buy such a property.
The end-terrace house with about 128 sqm and 250 sqm land is priced at about €485,000 including additional costs about €530,000.
The loan requirement would be €485,000.
Now a factual assessment of our financial situation would help us a lot.

Income as follows:

Man €2,500 net, possibly a bit more in the future through further training.
Woman €1,350 net + €200 child benefit, part-time due to 1 child and pregnant with 2nd child.

The monthly installment would cost us €1,360. In the first year interest-only, only the interest, since my wife is on maternity leave and might be able to work part-time again in 1 year.

What do you think, would such a house purchase be feasible with our income or rather difficult to consider?

Regards

Hands off. Too little income for the amount. And only just saved on the additional costs... That doesn't look good. When [Frau] is on parental leave again, you won’t have €3500 household income and half will go towards the place. Unhealthy.

No, the salary does not match the financing. I even find it exorbitantly high, the financing or conversely, much too low, the income for financing at a lower level.

Whether the installment is manageable is answered by an honestly maintained household budget.

The installment is low to borderline limits. Although you mention neither the term nor the interest rate, assuming a full financing with a 10-year fixed interest period, you end up with terms >35 years and a corresponding risk for the follow-up financing, which could be the undoing.
With such tight arrangements, I would aim for longer fixed interest periods, which, however, cost more and further extend the loan term. Even the "favorable" scenario would then last well beyond the age of 70.

Quite honestly, there is a lack of 500-1000€ income or 50-100k equity.

Neverever! Hands off!! Income too low for the property

I bought at almost the same price and also only paid the KNKs from equity (while there was still money available for renovation, etc.). We pay the same rate but also have over €6k income per month. When my wife goes on parental leave at the end of November, it will be just under €5k and that already "worries" me. I would avoid it if I were you.