Good offer for a young family? Buy yes or no

Yes, really now. I don’t find 2300 EUR much in the long run. Everything has to be paid from that amount without exception. Kindergarten, insurances, electricity and all other household additional costs, retirement provision, savings rate for unforeseen expenses or car, reserves for the house (I would already start saving for a new heating system, even if the old one lasts another 10 years, you definitely can’t pay for that out of petty cash) and then the normal life. I’m also writing that in normal months you can manage with that. But there are plenty of special expenses that can seriously mess up a month financially. And with 2300 for 4 people, for my sense of security at least things like retirement provision and savings for unforeseen expenses would be neglected.

The rate of 1350 EUR is then what percentage of repayment? It really seems to me that either a substantial special repayment has to be made on the loan amount or the inheritance is being taken into account.

Hello, first of all, thank you for the many opinions.

Today I was inside with my two cousins.

The roof truss is great, the first floor is great, parquet everywhere and it still looks very new and barely used. Upstairs, a lot must have been renovated a few years ago.
The bathroom... pictures, I don't know if I'm allowed to do that. I'll see if I can at least put in a photo so you get an idea.
My two boys also said that the bathroom is a matter of taste, but basically doesn’t need renovation. But that really is the "eyesore" of the house ^^

Yes, until March there are still subsidies, these would basically be the heating in 10 years.

I also had a short appointment regarding financing today. I would get a fixed interest rate of 1.23 percent for 10 years. Monthly installment 1290 €. 5% per year can be paid off extra.

It is calculated until retirement. But as I said, we will inherit something later. I don't think we really have to pay it off for that long...

Yes, we are 90 kilometers south of Munich, more and more people from Munich are slowly coming here. Furthermore, they are about to build an S-Bahn station 10 kilometers from us... That will attract more people from Munich.
My wife will go back to work in a year (only 30%), so financially it will also look a bit better.

We could probably do the bathroom ourselves somehow, I think. It doesn't really have to be done immediately, I think...

I am 30 years old, my wife 26, our son 2.5 years old, and our daughter is 2 months old.

We have walked past the house again and again and dreamed about throwing a letter in to ask if it was available. Now it is available^^ But I have a stomach ache since I saw the amount in numbers xD

Currently we pay about 800 rent including utilities and save about 800 € and we are not living in poverty. Unfortunately, I have more of a wasteful lifestyle...
Basically, it should be easy, I can restrict myself for a home of my own.

Yes, we are 90 kilometers south of Munich, and more and more people from Munich are slowly coming here.

Is that even possible? Isn't that already Austria or even Italy? :p If it's okay, I'd do it, even if it gets tight. But as I said, bathroom and such later, when there's more money. And as long as the heating is running, start saving money for it – no, not for a coal furnace ;) – but for a modern one. Cheers, Olli

Then two calculation methods:

1)
Warm rent 800 EUR + savings rate 800 EUR -> 1600 EUR
When buying a house: 1600 EUR - 1290 EUR -> 310 EUR, which is certainly partly gone for increased additional costs and from which a new heating system must be saved, and from which all other savings must be made

2)
Currently income 4100 EUR - 800 EUR warm rent - 800 EUR savings rate -> 2500 EUR that you currently spend on "living." (So much for the topic 2300 EUR is easily manageable. So it only works with restrictions.)

I stick to my opinion that it is very tight.

Plus points are of course your age and the inheritance. So my conclusion is, it can be done, but you have to be aware of the restrictions that come with it. I would not want it for my family.

Have you kept a household budget? Over a longer period?

Hello, first of all, thank you for the many opinions.

Today I was inside with my two cousins.

The roof structure is great, the first floor is great, parquet everywhere and it still looks very new and hardly used. Apparently, a lot was redone upstairs a few years ago. The bathroom... I don’t know if I’m allowed to post pictures. I’ll see if I can at least put in one photo to give you an idea. The two guys with me also said that the bathroom is a matter of taste, but basically doesn’t need renovation. But it really is the "eyesore" of the house ^^

Yes, subsidies are still available until March; these would basically cover the heating in 10 years.

I also had a short appointment today regarding financing. I would get a fixed interest rate of 1.23 percent for 10 years. Monthly installment 1290 €. You can pay off an extra 5 % per year.

It’s calculated up to retirement. But as I said, we will inherit something later. I don’t think we’ll really have to pay it off that long...

Yes, we are 90 kilometers south of Munich; more and more people from Munich are slowly moving here. Additionally, they are soon building an S-Bahn station 10 kilometers away from us... That will attract more people from Munich. My wife will go back to work in a year (only 30 %), so financially it will look a bit better then.

I think we could somehow do the bathroom ourselves. It really doesn’t have to be done immediately, I think...

I am 30 years old, my wife 26, our son is 2.5 years old, and our daughter is 2 months.

We have walked past the house again and again and dreamed that we would one day drop a letter in to see if it was available. Now it is available ^^ but I have a gut feeling after seeing the amount in numbers xD

Currently, we pay about 800 warm rent and put away about 800 € and do not live in poverty. Unfortunately, I have more of a wasteful lifestyle... Basically, it should be easy; I can restrict myself for a home of our own.

That already sounds more positive, as in the end you would end up with 200 € more per month. However, then you obviously can virtually save NOTHING anymore. If your wife then goes to work... mh where do the children stay then? Free childcare? Do you have a household budget? I mean financially? Check your bank statements for a year.

2300 euros is not much.

500 € for 2 cars insurance, fuel, reserves
600 € food, household supplies, etc.
200 € insurance
200 € vacation
200 € savings (washing machine, etc.)
Rest: childcare, mobile phone, internet, birthdays, hobbies, eating out occasionally?

So 2300 € get used up faster than you think.