Financing for 124 sqm semi-detached house – too tight?

We are also four people and have a similar income. Our rent is only 1,200 EUR, but we manage well with it. Since you have a very good overview of your finances, I also think it should work well.

One more note about the heating: Our heating system was 23 years old when we moved in last year and still in good condition. However, in the old house, we already had the case that the heating was broken twice in winter and once the instantaneous water heater in the bathroom (no hot water for showering for two days). I don’t want to go through that again, at least not with two small children. Especially because a heating system is not something you replace "just like that." First, you have to find someone who writes you a quote and has time soon. That can take several weeks. Fortunately, coworkers had that in the summer and thus "only" had no hot water for two months. Of course, you survive it, but it’s not pleasant. I wanted to spare myself the stress, so we invested the 5k in the new gas heater and now we have peace of mind for the time being.

[A Brandenburger :-) We are building near Potsdam soon (as soon as the forestry authority finally moves). And yes, the price is already okay. Houses were sold by Town & Country with about 600 sqm of land for €250,000 (land price) + house. Total amount probably around €600,000 - 650,000. It is currently very hard to find something, and the plots are sometimes more expensive than the houses.

We are building a bungalow, total price including plot 1,462 sqm (got very cheap) about €530,000. Like you, I am very risk-averse. Without a savings rate of at least €1,500 - 2,000 / month, I would have a stomach ache about the build.

With semi-detached houses, it is always important whether you know the neighbors? They can really spoil the fun. Do you have only one financial advisor or several? I have commissioned 4 to search around. What I can also give as a tip are the regional banks. Ask personally at the Mittelbrandenburgische Sparkasse, for example. It is not included in the financial advisors’ portfolio and you can personally achieve much more/persuade more than if it goes through the financial advisor.]

Thank you for all the helpful input so far. Secretly, I had hoped that more people would say "Leave that nonsense!" so that I could take the safe route and not have to change anything in my life ;) Ultimately, we will never find out what will happen in 5 or 10 years, the only thing certain is that with the next 2 rent increases we would anyway be at the same rate we would have to pay for the loan. Just this thought makes me lean clearly towards the decision "Go for it!" Oh, and regarding the neighbors - the area naturally developed around the turn of the millennium, the people there are currently somewhat older and it seems certain that it will become somewhat younger in the coming years. The garden is tiny, the fences are high, no busy road nearby and during our last now 5 visits (we live close by and have explored the area multiple times by bike) it was truly idyllically quiet. Ultimately, you can never know what kind of nightmare neighbors live next door, but we are aware of this risk. I have currently decided to let the matter rest for a few days and stuff my head with other things to finally get rid of this nervous gut feeling a little. We are in no real hurry, the transfer of ownership would anyway only be at the end of the year, and the seller and agent also don’t seem to be in a particular rush.

Neighbors can be just as annoying in a detached house as in a semi-detached or terraced house, there are no differences. The 500€ per month for insurance is in my opinion way too much. I would cancel everything except liability, household contents, and term life insurance matching the loan amount, or if possible, make them liquid. Basically, the financing fits well, go for it.

Neighbors can be just as annoying in a detached house as in a semi-detached or terraced house, there are no differences.
The 500€ for insurances per month are in my opinion way too much.
I would cancel everything except liability, household contents, and risk life insurance corresponding to the loan amount, or if possible liquidate them.
Basically, the financing fits well, go for it.

Yes, but no one can, for example, bother you with noise in a single-family house. You lock your house and have your peace. In a semi-detached house, you live wall to wall with your neighbor.

In a semi-detached house, you live wall to wall with the neighbor.

I really haven’t heard anything through the walls from my neighbors. Neither the electric guitar nor the screaming child. Unfortunately, the windows let through a lot more noise than the walls. That’s why I find wall to wall totally okay. Window to window I would find worse. :D