Financing a single-family home beyond retirement?

Greetings to all. My partner and I are about to buy our dream house. I am 41 years old, my better half is 36 years old. All financing offers assume that the house will be paid off after at least 30 years. Anyone who can do the math will realize that I will already be 71 by then. According to the banks, this is no problem, as a good pension (+additional pension) is expected. Therefore, the question is whether anyone else is also financing beyond retirement age?

A second question is whether 1100 euros per month for food and clothing is enough for a household of 5 people. After deducting all costs (including reserves), this amount would be left for us to "live" on.

Many thanks for your answers and have a nice weekend in advance.

So the question is whether anyone is also financed beyond retirement age?

Yep. What’s wrong with that anyway?

A second question would be whether 1100 euros per month for food and clothing is enough for a household of 5 people. After deducting all costs (including reserves), this amount would remain to "live" on.

A clear yes and no. First of all, the question is what "all costs" means? Does it include leisure activities, vacations, car(s), hairdresser visits, etc.? What are you saving as reserves and for what purpose? Basically, 1100€ should be sufficient exclusively for food and clothing. But then there isn’t much room for big expenses.

"All costs" really include everything. A reserve for the house (140m² floor area) would be about 150 euros per month. We would save 250€ per month + 13th salaries + holiday pay + tax refunds etc., we could save about 6000€ per year. In addition, there is (but it should go into the house) Baukindergeld for 4 children at 1200 euros per year.

Then I see it quite relaxed, since there is still a (reasonable) buffer available

P.S. I finalized a financing two days ago up to the calculated age of 87. The only requirement from the bank was a calculated term of a maximum of 40 years = 2.x% repayment.

Greetings to everyone. My partner and I are about to buy our dream house. I am 41 years old, my better half is 36 years old. All financing offers assume that the house will be paid off after at least 30 years. Anyone who can do the math will realize that I will already be 71 by then. According to the banks, this is not a problem, as a good pension (+ supplementary pension) is expected. Therefore, the question is whether anyone else finances beyond retirement age?

A second question would be whether 1100 euros per month for food and clothing is sufficient for a household of five. After deducting all costs (including reserves), this amount would remain for us to "live."

Many thanks for your answers and have a nice weekend in advance.

We also want to start building at the latest next year. I am also 41 and my wife is 37. So quite similar. As it looks, we will finance as follows:

- Payment max. €1,600 + €200-300 incidental costs (140 sqm bungalow, kfw40plus)
- 10-year KFW loan with a €30,000 bonus. This will be paid off after 10 years (which means saving about €5,000 extra per year)
- Remaining loan over about 30 years.
- After 10 years, the loan installment for the KFW loan that drops off will be added to the second one. That way, I come to about 25 years. So until retirement.
- Should it not work out for whatever reasons, we both have company pension plans that we can pay out at 67.

Our calculation is as follows:
- €1,800 loan payment + incidental costs
- €1,500 savings rate (includes reserves for maintenance, vacation, car, etc.)
- €600 (insurances, vehicle tax 2x, service 2x, child’s savings account, child’s music school, Amazon Prime, Netflix, cell phones, etc.)
- €2,000 for living, clothes, gasoline

Greetings