Home financing ever possible? Probably not!

As I said, it's a mystery to me how someone can say we could afford that with our money. I would really like to have it calculated by the people.

A few weeks ago, we took out 460k at 3.59% interest and 2% repayment, it should be about the same now, maybe even with slightly better terms. Depending on how much equity you have saved, that can get you quite far. That's roughly around 2140€/month for the loan. With your 5200 net income, more than 3000€ remain for additional costs and living expenses. Since you are frugal and no more children are planned, that should work, right? Of course, spending "that much" on housing feels bad at first, but it's not impossible.

@ Mayglow, Ok, sorry, but may I ask how old you approximately are? And then: Was the price for the property overpriced? (I actually assume so): And: What will you do when your fixed interest period ends and the key interest rate rises? Then your payment will increase sharply, and nobody really knows what will happen with energy costs right now, but I think it will get worse. Do you have an emergency plan for these cases?

Is it really fair if, for example, 600,000 is demanded for a house, although it REAL might have a value of half?

Now also financial esotericism. There is no such thing as the "real" value of things calculated in money. There are only prices and the question of whether one wants/can pay them or not. Things cost what they cost, and if the market finds them too expensive, they won’t be sold and later the prices will adjust accordingly. This applies exactly the same to real estate. Are you a goldbug who thinks that if a house used to cost 1,000 gold coins, but now 1,500, the real value of the house is no longer reflected by the price?

If the borders had been closed, I would think of quite a few skilled workers (just from my own environment) who would then not pay into the German system. The vast majority want to be able to provide for themselves and their families.

However, one has to remain realistic here. Among the refugees from 2015, those with jobs are still a minority; most still receive social welfare. There are enough sources for this, even on non-right-wing sites. Just like a larger portion of the refugees did not even come from Syria and many were not families fleeing Assad but young men who were supposed to bring their families later. Economically, it will not really be better with the Ukrainians. Men of military or working age are not allowed to leave the country, so only women and children remain. With some luck, the grandparents are still with them. Otherwise, good luck trying to get by as a single parent in a foreign country without the appropriate language skills and without social welfare. The only bright spot in this regard is that the children should be somewhat integrated after a few years of school. Sorry, but that's how it is. I wondered whether I should write anything about the topic at all; after all, I don’t want to support Durran and co. But ultimately, a state can only be socially responsible internally if it limits its social compassion externally. One must not lump immigration of qualified skilled workers together with immigration of unqualified people without language skills. What I miss in politics is an open discussion about this.

And: What will you do when your fixed interest period ends and the base interest rate rises? Then your installment will increase sharply, and no one really knows what will happen with energy costs at the moment, but I think it will get worse.

The fixed interest period and remaining debt are known in advance, and then you simply calculate what happens at 1, 2, 3,...10% interest and make a decision. If it gets too high for you, then you sit down and consider whether you should increase the installment from the start to reduce the remaining debt. Or opt for a longer fixed interest period. Ultimately, in follow-up financing, we are talking about an event in 10, 15, 20 years. I have about 200k to finance at the end of 2021. No matter what happens with inflation and interest rates by then, that is manageable. Therefore, I am not going to drive myself crazy now. And energy costs... after moving in I have a well-insulated house with an efficient heat pump and photovoltaic system on the roof. By the time energy costs become a problem in that situation, many other people will already have a big problem.

Anyone who needs to refinance next year does not necessarily have a problem. Only those who financed with 5 years [ZB] in 2018. Those who financed with 10 years [ZB] in 2013 or 15 years [ZB] in 2008 already know today's interest rates from their first financing.