Home financing with low income

Hello. I am new here and have no experience with buying or building a house at all. I’ll first tell you what I plan to do. I am interested in a house that should cost 225,000. I have a net income of 1,415 monthly and receive for 2 children 4.1 total 368 euros child benefit. In between I am abroad for the company and then receive additional expenses. That means 42 euros per day. At the moment I also receive 235 child benefit supplement and 160 housing benefit pay 470 euros rent including utilities. I have equity of 10,000 euros. My question is, is that feasible???? Will I still be entitled to housing benefit and child benefit supplement afterwards? It would be nice if someone could help me. Thank you very much in advance.

Hello,

...my question is is that doable???? Do I still have the right to housing benefit and child benefit supplement?

Building a house at the expense of the community?

Kind regards

What does that mean exactly now?

Hello,

Building a house at the expense of the community?

Kind regards

Bauexperte
Ehrlich - Professionell - Innovativ

ok, let's remove that. Would it otherwise be possible?

do I still have the right to housing benefit and child benefit supplement?

First: The entitlement to child benefit would probably not expire. Why should it. My former neighbors were very wealthy and still received child benefit for their daughter. But you should definitely discuss this once again with the responsible office at the authority for safety.

On the topic: If I understood you correctly, then you have a difference of 224,000 euros that you would have to finance through a loan. Considering the financial crisis and the currently rather questionable conditions for loans (the link gives you an initial impression) I would leave it. Do you live in an area like Hamburg or Munich, where renting would be more expensive in the long run than buying a house? If not, then think it over intensively for a few more weeks. Entire families have already ruined themselves with such plans.

Regards,

Ingo

Thank you very much for the info. I will think it over carefully again.