Financing plan - How much can we afford?

Hello everyone,

I would like to roughly know what we can afford with our income, etc... so what would be the maximum amount one could borrow as a loan. Can this question even be answered so generally? Surely not exactly, but maybe roughly?

General information about you:

[*]We are 27 and 30 years old.
[*]Currently no children.
[*]Children are planned, however.
[*]We are employees and both work full-time 39h.

Income and asset situation:

[*]We currently earn 2300 and 1700 € net.
[*]My girlfriend currently owns a house (inherited), which is rented out to 3 parties. The rental income is actually intended for repairs, etc. and not for financing.
[*]We could currently put in about 10,000 to 20,0000 € + 10,000 home savings contract as equity.

Housing costs:

[*]current cold rent: 560 €
[*]current warm rent: 200 €

Mobility costs:

[*]Car loan: 500 € for 6 years, after these 6 years I would definitely reduce it to 200 to 300 €, as the purchased electric car is intended for a longer period.
[*]My girlfriend owns a new Polo, which is fully paid off.

I hope you can make something of the data.

Example: Scout-ID 98085463. I know there would be additional costs, but this would be a rough example we could imagine. Are 300k or maybe 350k possible as a loan? Or would that be too much for us?

Sorry if these are stupid questions, I am quite new to this topic. :P

Many greetings and thanks in advance!

Are 2300 euros and financing enough if the woman is at home because of the children? I think not.

Hello

You have a combined income of 4000€. As a rough rule of thumb, one third is for housing. In your case, that makes 1333€. Minus monthly additional costs for the house, about 1000€ remain for the loan. Only you know if you can afford that. Over 30 years at 2.25% (?), that is about 260000€. Since you end up with roughly 30000€ equity for about 90% financing, the interest rate and therefore the loan amount are questionable. Alternatively, use the existing house as collateral value in the financing or possibly sell it and use the proceeds as equity. There is plenty of information about construction costs here in the forum. Regards

So your numbers are similar to ours, we have slightly more income and also more equity. I think a 1000€ installment is already quite a lot for you. 300k is probably too much for you without somehow involving the other house.

Existing house without yield? Sell! Even with yield, it would be sold to eliminate the repair risk due to low liquidity.

The problem is the lack of equity and the house itself.

Scout-ID 98085463 is much too small for a family if you want to have a house (?). It's 119 sqm.

If 1-2 children come, that's not enough. Then you are not married. The house belongs to your girlfriend. I would consider getting rid of it.