House purchase - fear of too much burden

Hello everyone,

I am currently facing a very difficult decision for me: I have been offered a fully renovated house through an acquaintance at a very favorable price: 210,000 EUR plus incidental purchase costs. This is a great price for our area, with a large garden, etc. The operating costs amount to 120 EUR per month including electricity. Since I live alone, I am still afraid that I might overextend myself with the purchase. I will contribute the incidental purchase costs as equity; the rest I have to finance fully.
My calculation:
I earn net: 2050 EUR
Installment approx: 850 EUR
Additional costs (incl. heating): 120 EUR
Mobile phone, internet: 60 EUR
Insurances: 150 EUR
Gasoline costs: 50 EUR
Parking garage (for my work): 95 EUR

Total costs: 1325 EUR
So, remaining: 675 EUR

My parents want to additionally "gift" me 200 EUR per month; I also get food from them. So basically, I would have enough left for myself at first, but if these 200 EUR disappear (e.g. parents’ pension), I would be a bit tight. What do you think? I am just very uncertain right now because the offer sounds so good. At the moment I also have a part-time job for 400 EUR, but I do not include it consciously because I do not know how long I can and want to work on the side after my regular job.

Without knowing your lifestyle, it is difficult to answer. From my point of view: 650 € per month at your disposal is a lot of money. I wouldn't worry about that at all. Additionally, the part-time job + the money from the parents?? You have quite a bit left over each month. BUT: A house takes a lot of time, a garden even more – or do you want to hire a cleaning service as well?

Please google ADAC Autokosten-Rechner. That’s where you first see what a car actually costs. (even if the statistics from ADAC are currently a bit hard to believe) With 50€ for petrol alone, not much can be done for sure. Repair costs for the house are still missing. How about clothing?

The next question I ask myself is: What do you want alone with a house? In the end, love or the job takes you somewhere completely different.

Hello Wastl,

I just like to go out to eat and go on vacation 1-2 times a year, I would like to keep that.

I’m not worried about keeping things clean, I get support for the garden and cleaning the indoor area even gives me pleasure.

I want a house as retirement provision. According to the current Spiegel, I can ask for around 1000 EUR rent in the area, so if I ever want to leave, the house will not be an obstacle for me.

I would give you the tip to closely monitor all your income and expenses. Especially with bottomless pits, like building a house, it is particularly important to know exactly about everything. You don’t have to spend a lot of money for this; you simply keep a traditional household ledger. Anyone who prefers something a bit more modern can, of course, use apps and manage their finances from their smartphone.