House purchase / financing possibly feasible?

Hello dear forum community,

My wife and I (both 36) have been considering buying a terraced house. The house is in top condition. The roof, windows, doors, front door, bathrooms, and floor coverings have all been renewed in the last 4 years.

Net income without child benefits, Christmas bonus, annual bonus, and vacation pay would be about 4000-4200 euros.

Due to private and professional situations, unfortunately, we could not save much (15,000 euros). We have 2 paid-off cars and no other debts.

We both have secure jobs. However, my wife only works 4 hours daily because of our little one (3 years old). She will only work full-time again in about 8 years.

At the moment, we save about 800-1000 euros per month.

We have been keeping a household budget in the form of an Excel table regularly for 4 years.

If we calculate and break everything down now, with a 1100-euro loan installment including all additional costs, shopping, fuel, insurance, etc., we would still have about 600-1000 euros per month left for activities, clothing, saving for special repayments or a car after buying the house.

How do you assess this? Concerns are always there.

Easy - from a creditworthiness perspective, any bank will go along with that. Only 1/4 of the net income for financing is top (+ buffer, child benefits are fully counted as income). I assume that with your desired rate, the financing is not particularly high. So the surcharge for full financing doesn't play a big role.

Sorry, 1100 credit and additional costs are added on top....

Thank you. Yes. The amount in question is 300,000 euros including incidental purchase costs.

sorry 1100 credit and incidental costs are added on top....

That’s how I understood it as well.

The amount in question, including purchase incidental costs, is 300k euros.

I roughly calculated with that as well – manageable financing (I know, that’s subjective) with reasonable creditworthiness. 4.4% annuity – fits.

A tip: Make a detailed breakdown.
About 600-1000 € for activities/clothing/special repayments/car is not much. And the figure of 600-1000 (75% difference) is already horrendously high.
Calculate exactly. If 600-1000 € should remain for:
- Car (service, vehicle tax all x2)
- Vacation savings
- Large appliance repairs
- Clothing (150-300 euros are often spent)
I find it far too little.