Financing - what is realistic?

Hello,

we are a family of five, living in a small town in Saarland, I am currently the sole earner, 35 years old, monthly income including child benefit around 4200 net. We currently pay rent of 460 € cold (660 € warm, with electricity and gas a total of 920 €) and manage well with that.

What would be a realistic building price or monthly rate?

We have looked at a nice used house, 248k plus 18k additional building costs, completely renovated, oil consumption about 2500 l p.a., but I have doubts whether this is affordable for us.

What does "Ihr kommt gut über die Rumden" mean for you?

Control question about that: How much money do you put into a savings account/daily allowance etc. each month? So how much do you save without a specific goal or for the house?

And then, how much equity do you have?

Basically, based on the few bare numbers, there should be nothing serious speaking against the plan.

Hello, in the reserve we have (only) about 38k, of which I would like to take about 30k in equity, so that there is still some buffer for unforeseen events.

So there would be a financing amount of approximately €240,000 remaining. From the numbers, this is certainly basically possible, but it is also almost a 100% financing with all its risks.

What a realistic monthly rate is, no one can tell you except yourself, depending on your costs/your lifestyle. Therefore, my question once again: What does it mean that you make ends meet? How much do you save per month?

Another question: Is really nothing else to be done in the house? New floors/painting... etc. What year was it built? Accordingly, even more money might need to be planned.

Hello, this year we have set aside about €200 per month on average, without specifically saving. Unfortunately, not very much...

Hello, this year we have put aside about 200 € per month on average, without actively saving. Unfortunately not very much...

Really not much, some save more for their vacation ;)
You have to calculate 200 € monthly for the higher additional costs compared to renting (waste disposal, building insurance, property tax...) So these are not available for loan repayment.

Therefore, you have to get the deficit to the net rent for the loan from somewhere. Where from??