Feasibility single-family house + land 550k-600k NRW

What is your current cost structure/savings rate? My parents-in-law also have an [MRH] (paid off), which they rent out. To finance their current property, the bank has a land charge on the [MRH]. Repayment €1600 monthly for the new house. €850 cold rental income, similar salary to you. However, very high consumption costs. After recent problem tenants caused enormous damage, their retirement provision had to be tapped so that the structure would not collapse. Please remember that rental income still has to be taxed.

What reasons speak in favor of the scenario of renting out the terraced house? Emotional? Or is it a financially lucrative investment? Or is the idea to use a possibly high amount of debt? It would certainly be much more relaxed if you sold the terraced house, brought in 100k more, and invested the rest e.g. elsewhere. Then vacations etc. would certainly be possible.

If I had the choice, I would also prefer to rent rather than sell. If the new property is paid off, you can actually go on vacation for 3 months a year from the rental income

That's exactly right. Cash in the bank doesn't last long, real estate lasts forever. When I think that we bought for €184,000 back in 2010... and I simply believe that real estate in Germany won't get any cheaper. Besides, the townhouse is in the city center. Everything is within walking distance. Shopping, doctors, authorities, etc.

How did you pay off the house in 10 years? With expenses of 1500 €, the installment is probably no longer included?