House buying - No idea what one can afford

Just take a look, for example, in this thread, right in the first post a user talks about his income situation:


or here:


Or generally in this section of the forum, there are many examples of income calculations and related financing offers from banks.

and once again a clarification. I did NOT say that I HAVE TO have a house for amount X. Apparently it comes across that way when someone questions how that should work if both don’t always work full time.

That’s exactly what it’s about with me. If it now turns out that for these and those reasons I can only buy something for 250k, then I’m one step further... But here we go in circles again, because I don’t quite understand how I can buy something for 200,300k for x people who also have the challenge of children and part-time work but with less income, and here it basically comes out that even with our income we obviously shouldn’t and can’t finance 400k in the long term.

But there doesn’t seem to be a clear opinion on that, on the contrary.

But once again: I am NOT saying it has to be 400k!

They don’t go on vacation for 10,000 and lease a private car

hmm what do your friends and family who know your style and have to grill in your 200k hut say... doesn't really fit the income

just kidding!

OFFTOPIC: Not just kidding... everyone as they like, but I also mock such people. The best are those who drive big cars but live with mommy and daddy.

Phew, whether with or without your smiley...are you seriously surprised by some comments directed at you? Break down your brilliant income to an hourly wage. I would never want to trade places with you, I prefer lots of free time, for family, hobbies, house...But this is no condemnation, everyone as they wish.

Nope... I no longer wonder about answers like yours. For me, that's envy. Can't you just leave my "joking" post uncommented? I earn about 80 EUR gross per hour. And you wouldn't trade? I seriously doubt that! Regarding free time... sure, I have less net. But I am highly flexible. So I have been without exception at EVERY doctor's appointment of my daughter. I have been able to experience EVERYTHING... first words, first steps... etc. I am always at home. I see her morning, afternoon, and evening. I can jump in if she is sick or feels bad. I can step in whenever my wife needs me.

And I could immediately work significantly less (with losses, no question). But I can also keep going full throttle and then have the house paid off in 4...5 years (with a lot of luck and good deals, no question). I can then IMMEDIATELY go down to 20 hours a week or do full throttle for 3 more years and then only work for "fun." Of course, that's dreaming and speculation... but bottom line: Despite a lot of work, I am in a dreamlike situation and appreciate that every day!

That is exactly what this is about. If it turns out that, for this and that reason, I can only buy something for 250k after all, then I have taken a step forward... But here we go in circles again, where I don’t quite understand how I can buy something for 200, 300k for x people who also have the challenge of children and part-time work but with less income, and it basically comes down to the fact that even with our income we obviously shouldn’t and can’t finance 400k in the long run.

In general, one can say the following.

1) Equity should ideally cover the ancillary purchase costs so that the loan-to-value ratio stays below 100%, allowing you to
a) get good conditions
b) have banks more willing to support you on your path

2) The monthly disposable income should be sufficient for the installment + operating costs + reserves.

An example:

A prefab house (140sqm, KFW 55, without basement) with land near a big city (let’s say around Cologne) costs €530,000 + €13.5k ancillary costs for the land (the land cost €150,000).

Now you would have €60k equity. Then, including KfW loans (assuming 0 years without repayment), you would pay about €1,700 per month as an installment and be done in about 30 years as of today.

If you only have €20k equity, the same place would cost you about €1,950. Here, you would also be done in 30 years.

In both cases, operating costs of €450 would be added on top, which would already include a reserve for repairs.

Actually, the price of the place is not the problem; but the equity and the resulting loan-to-value ratio are a big factor.

You can really make a big difference with the current interest rate situation.

Nope..I’m no longer surprised by answers like yours.

Phew...if I tell you that I wouldn’t want to trade places with you for anything in the world, then you better believe me.
For me, such a lifestyle/work style would be a total nightmare, believe me, or don’t. Maybe you will later realize how much you really missed out on. No, I don’t wish that on anyone.
I won’t comment any further on that.