Financing single-family house - How much can we afford?

My opinion on this: Leave it! At least not at this scale would I want to finance it. You are young and, in my opinion, restricting yourselves too much. Who pays for the vacation? Who pays for the new washing machine? Who pays for the new car or the repair? ... You probably shouldn’t think about children for the next 10 years (unless there are massive salary increases), because children cost money and usually reduce income on the other side (parental leave, part-time). I would start with a condominium or a cheaper house – that’s what I did, and we are moving into our third property in 15 years in spring 2014 (condominium, semi-detached house, large single-family home). What are you currently paying for rent? Would you want to rent for 1,250 EUR including utilities – your payment for interest/ancillary costs will be about that high.

Thank you for your opinion. Currently, we pay 800 € warm rent and manage well financially. The difference to the 1250 warm rent with a house would already be available every month as things stand now. However, with the house, there are quite a few more insurances to pay, and I can hardly estimate all the additional costs. And as has already been said, having children would not be an option without a salary increase for the time being.

We have already looked for "smaller" or more affordable properties – but the apartment and real estate market here is hopelessly overcrowded. Renting is really no longer an option for me, as I am literally throwing money out the window here. First, of course, we looked at condominiums. But honestly: Is a 200,000 € condominium without a garden and without a window in the bathroom/toilet in any way comparable to a house as described above? The idea was: We’d rather put the money towards that and have something "real." In your example with a condominium, semi-detached house, and now a single-family house: When you calculate everything back – did you really come out well? Wouldn't it have been cheaper in the end to build/buy the single-family house right away? I just can’t imagine it otherwise. You have additional costs every time, moving costs, possibly depreciation of the properties, new furniture, etc.? Or am I completely wrong?

I’m really starting to think deeply. But from what I read, the low salary is simply the problem, right? With a total of 500 € more net per month (just as an example now), it would probably be more feasible, right?

I'm slowly starting to really ponder. But as I read it, the low salary is simply the problem somewhere, right? With a total of 500 € more net per month (just as an example now), it would probably be more feasible, right?

With a higher net income, many banks also assume higher living expenses at the same time. According to the bank, one would automatically live a higher standard of living.

For us, the step with the ETW was the right one at the beginning. At that time (I was still buying alone then) we had about 2,500 EUR less net per month (today my wife no longer works due to [Elternzeit]), but also three fewer children. A house was therefore out of the question, and interest rates were about 2% higher than now. The apartment was already paid off after 5 years (special repayments, at that time also home ownership allowance). With the equity from the sale, we were able to lay the foundation for the semi-detached house. Now, after another 10 years, the semi-detached house is only 30% in debt and through the already completed sale we can generously build new (250 sqm living space with great features). I am now 40 years old and would do it the same way again, despite the additional costs you mentioned. We never had to do without anything (car, long-distance travel, dining out ...).

The window in the bathroom is completely overrated when you can also live in a nice condominium at the same time.
You have potential in your career, there is more to come.
I had also decided on an ERH with my ex-husband because the loan costs were manageable. But at the age of 30, we also had no problem with the 1% repayment. It didn’t bother me that it would still be unpaid after 30 years.
Nevertheless, it came to a separation, I kept the house alone (thanks initially to my parents and later a side job... rent would have been more expensive).
Now it continues with a new building and my current husband. We are in our mid-40s and mid-50s... and we are really looking forward to our house... for me, it’s not out of the question to build again in 20 years.
You just get used to it and adapt to the situation, which will change continuously.

What I want to say: you are still young and there will be more liquidity to come. If you don’t absolutely have to develop the plot, wait a few more years.
However, it seems your father gives some security to you, and his stated limit is not completely unjustified. Calculate it together... back then my father also gave us a larger sum of money to start in our own home... but he had it secured as a 0% loan so that in case of separation the money was secured for him and would not go to the ex-husband.
If you want to know more about it, happy to discuss via PM.

Regards Yvonne

Rent is actually no longer an option for me, since I am literally throwing money out the window here.

Why is that money thrown away? Whether you pay (cold) rent to the landlord or interest of the same amount (or more!) to the bank makes no difference, both are gone.

With a rental apartment, you are not tied to a place or a bank.

The additional insurances you mentioned are the landlord’s responsibility, as are the reserves to be built up, which would also arise for you in a home of your own.

Repairs and damages?! -> Landlord.

Just because interest rates are currently low doesn’t mean you have to buy property at all costs.

But honestly: Is a €200,000 condominium without a garden and without a window in the bathroom/toilet in any way comparable to a house as described above?

No! Here in a new building, there are also one or two apartments left empty. People have now realized that with a run-of-the-mill 100 sqm apartment for €300,000, there are no real values behind it.