Financing Feasibility Single-Family Home Purchase

Conclusion: advise against purchasing and rather invest in a more affordable property?

Conclusion: advise against buying and rather invest in a cheaper property?

Yes! Definitely stay away from this house, unless you get it for half the price.

I also consider that financial madness. And the property also sounds rather questionable. Are there possibly condominiums around 250k in your area?

We don't earn that much more either (4200 plus 2x 13th salary and 2x vacation pay) and are moving in ranges around 400-450k. But I think those almost 1000€ more per month do make a big difference. My girlfriend in the public sector will have another 200€ more net next year through a level increase. But nevertheless, here in the forum we are also in the lower third.

From what I read here, we are clearly more frugal/sparing than most (no judgment). Just by that you can compensate for certain salary differences.

I think everyone naturally has their own comfort zone, but here I don’t see a good ending from the numbers. A condominium is cheaper and better to calculate. And who knows what will happen in 10 years? You can always sell/rent then.

By now we have even arrived at a terraced middle house. Simply because we like it very much against all expectations and at the same time it is “dirt cheap” to maintain (built 2000). For that, a top location and two parking spaces as well as expansion reserves. For that we can also sleep well in the future :)

Just as input from someone who also comes from the lower end of the food chain ;) And here in the Hamburg metropolitan area it is really tough right now. It feels good to still be able to play along there.

oh yes: We have now saved 60 k EUR together over three years. And we haven't given up anything (clothes, eating out, vacations, trips). With that, we also showed ourselves: We can do it!

PS: Last year in March, I wanted to buy Plug Power for 2.55€. I should have trusted my gut ;) But would I have stayed in until 50.00 EUR? I guess not… That would have improved our financial situation even more.

That is exactly the misconception. The forum does not reflect the real world. You can also acquire property with an HHEK of 3,300 EUR if you are aware of the consequences. Just ask . Everyone said it would never work with her income either.

Almost correct - I hadn’t posted in the forum back then and therefore didn’t ask at all. I just suspected that we would have been advised against it. Our HHEK is also a bit higher than €3,300 and that is only temporary because I still work part-time as long as my son is small. For most of the financing period, it will be significantly higher.

Almost right - I hadn't posted in the forum back then and accordingly didn't ask.

Please excuse me. Then I mixed something up :)