Financing a house alone or already building/buying one!?

General information about you:

[*]Who are you? One person
[*]How old are you? 33
[*]Are there children? No
[*]Are children planned? Possibly up to max. 2
[*]What is your profession? Administrative officer
[*]Are you employed, self-employed, retired, housewife, househusband, etc...? I am a civil servant
[*]How many hours do you work? 40 (full-time)

Income and asset situation:

[*]What income do you have (gross/net)? 2500 net (will increase somewhat over the years)
[*]How much child benefit do you receive? -
[*]Other transfer payments such as parental allowance, sick pay, etc...? -
[*]How much equity do you have? 0 €
[*]How much equity do you want to invest in the house project?

Expenditure situation:
Expenditures already included in other items can of course be omitted. This list is not final and can be expanded or summarized as desired. Please make sure to state all costs monthly, even if they only occur annually!

Housing costs:

[*]Current cold rent 680
[*]Current warm rent 810€
[*]Electricity 79€
[*]Gas -
[*]Water, sewage, garbage fees, street cleaning -
[*]Telephone, internet, mobile phone - 31 +30 = 61 €

Mobility costs:

[*]Monthly ticket for bus and train (also for the children!) -
[*]Car loan (or savings rate for a new car)
[*]Insurance 40€
[*]Taxes 25€
[*]Fuel 50€
[*]Repairs - hard to say, hopefully not much
[*]Others
[*]Is there a second car, motorcycle, scooter? Only one car

Insurance costs:

[*]Private health insurance (also supplementary health insurance, daily sick pay, etc.) - (260 € already deducted from net above!)
[*]Liability insurance (also animals) 5 per month or 60 per year for private liability insurance
[*]Capital or risk life insurance -
[*]Pension insurance (also Riester, Rürup, etc...)
[*]Occupational disability insurance
[*]Accident insurance -
[*]Household insurance -
[*]Legal expenses insurance -
[*]Other insurance (such as travel insurance, funeral insurance)

Living expenses:

[*]Groceries 200€
[*]Restaurant costs 40€
[*]Care/drugstore 20
[*]Pets (food, vet, medication, stable costs)
[*]Medication 0€
[*]Clothing 40€
[*]Furniture -
[*]Daycare/school fees (and meal money) -
[*]Tutoring -
[*]School materials and books -
[*]Club memberships/gym: 20 €
[*]Babysitter -
[*]Toys -
[*]Cleaning -
[*]TV/video/audio/CDs/DVDs - 8 € Amazon Prime + 19 € GEZ
[*]Tickets (football, cinema, concerts etc...) - 100 €
[*]Donations -
[*]Other -

Savings performance:

[*]Vacation
[*]House
[*]Retirement provision
[*]Hobbies/gifts
[*]Other

Other expenses:

[*]Maintenance payments? -
[*]Loans? -
[*]Other? -
[*]Was something forgotten? Then please state it here at the latest!

Income and expense totals:

[*]Total income approx. 2,500€
[*]Total expenses approx. 1,500 € (warm rent + fixed costs + hobbies)
[*]= Possible current savings rate approx. 980 € (after the car is paid off in a few months, currently still -400 € for the car and remaining BAföG debts, which I have almost paid off or my parents will take over). Therefore, nothing significant has been saved so far (only approx. 2,000 € reserves and a rental deposit of 1,680 € available)
[*]So net salary - fixed costs or living expenses + cold rent = approx. 1,660 € monthly available for house installment and building repair reserves or reserves for unexpected events (car, washing machine, TV, PC, etc. broken etc.)

I built under similar conditions: single client, 29/30 years old, A10 salary scale. However, no debts + land & some equity available. I needed a loan of 270,000 EUR, and I'm not sure if I would have gotten a higher financing. Or if I would have been able to sleep peacefully then. The installment fits well into my life now, more would be associated with significant restrictions. You also have to bear all incidental costs and insurances alone.

May I ask how high your monthly repayment is? And how many years until you are "done"? I am also in A10.

Insanity, as a single person with A10 almost 300k in debt. When I look at the table, easily 60% of the salary goes first for housing (installment + additional costs), if that’s even enough. You really have to want something like that...

I can only agree with that. An apartment is doable, but it definitely won’t be enough for a house. Possibly for an old existing house, but as a single looking, better to avoid that.

The comparison with User0815 is not very meaningful, as she already brought both the land and additional equity (little but present).

I therefore need a kind of "life advice" and an assessment of what I could finance.

So even for a very rough estimate, I’m missing your monthly savings rate, what remains after all expenses. This number plus €500 cold rent (rounded down due to higher additional costs in ownership) could be used as a basis. How much do interesting plots of land cost?

Regarding life advice: Just save as much money as possible. Whether an apartment makes sense or not depends on many factors, especially the location of the apartment and the resale value, because you want to build a house in x years, but in your case that’s only possible at first with a second income anyway.

May I ask how high your monthly repayment is? And how many years until you are "done"? I am also in A10.

I have a payment of about 1,020 EUR. I can't say the end date, I financed 50 T over 10 years and the rest over 15 years, then I have to look again.

Incredible, as a single with A10 almost 300k debt. When I look at the table, about 60% of the salary goes away for housing (installment + additional costs), if that is even enough. You really have to want that...

Do you mean me? For me it's about 40%. And I don't have much more debt than couples who finance 500k.

The question is also what your future looks like. If you now build or buy a family-friendly house, it is initially far too big for you alone. I hope I don't hit a sore spot, but what if you don't find the right person? Or you find her, but she doesn't like your house or she wants/needs to live somewhere else? I think your money is well invested in an ETW, and it can usually be resold or rented out well if the house does come up after all.