Financing monthly installment €2500 with 40 years term

I wonder why there is only 50,000 equity with that salary?

Have you ever taken a look at the age? These are real numbers... finished and not what you sometimes read here.

In my estimate, I haven't even considered the step increase every two years. In this respect, you will certainly be at 10,000 net in 10 years if you already have 7,300 now.

If that is really the case, however, I wonder why the two teachers don't know this. Then we can consider the case closed here. I honestly (believe) hope not for these increases. Even then, saving will be necessary in the coming years.

The income easily fits. Do it. The plot of land just seems too cheap to me. In areas with such a tight rental market (nothing available and if so very expensive), there are usually no plots of land, and especially not that cheap.

The property just seems too cheap to me. In areas with such a tight rental market (nothing available and if so, very expensive), there are usually no plots of land and especially not so cheap.

It seems rather expensive to me if the construction site is actually in the Saale/Unstrut region o.O

Honestly, I would also be interested to know in which city the living space is so scarce and expensive?? ...

Good morning, thank you for the answers.

That the 2500€ is manageable for us, we also had a gut feeling about that. Our problem is the 40-year term. We will be 70 years old when we have finished paying off. That is quite frightening. Then we will still be paying off our house in retirement!

We currently live in Halle. We can't find an apartment there and are moving to the [Saalekreis].

My girlfriend will, of course, return to full-time work after parental leave.

We are aware that our salary grades will increase, but that basically doesn't change the 40-year loan term... Of course, you can refinance after 10 years of fixed interest, but that is quite a gamble and, besides, after 10 years, we will not have repaid the majority of the debt.

Hello, I don't want to be a spoilsport. The installment does not include any repayment yet. If we add the additional costs including electricity, the monthly burden is between €3300-3500. If you want to make a special repayment, you even have to save something monthly. Yes, the income is very good and certainly secure. However, the financing volume and 10 years are also risky. I would have them offer me 15-20 years and also inquire with intermediaries.

Simply include special repayments and free repayment rate changes in the financing. If financially possible, increase the repayment rate immediately.