House purchase / financing possibly feasible?

On the other hand, I do get a bit of a stomach ache with such an amount (I think that’s normal).

You have to detach yourself from the amount. Just keep an eye on the installment. Besides, with the financing, you don’t have net debts. The house stands as collateral at the same value. And the installment includes a savings component of about €9,000 per year. That’s not to be underestimated. P.S. In my job, I finance up to €100 million for real estate. It’s the same as with you, just with a few more zeros. You get used to the numbers.

Thanks, then we can probably forget about that for now and should keep saving. Who knows what the real estate market will look like in 3-5 years. Hopefully the prices will slow down eventually, but I don’t really expect that.

Especially when nobody expects it, it happens. That’s the fun part . I hope it for both of us.

You have to let go of the total amount. Just keep an eye on the installment.
Besides, with the financing you don’t have net debts. The house stands against the same value. And the installment includes a savings portion of approx. €9,000 p.a. Not to be underestimated.

P.S. At work I finance up to €100 million for real estate. It’s the same as with you, just with a few more zeros. You get used to the numbers.

Sure, you can get used to the numbers, but just focusing on the installment and forgetting the total debt? And whether the house will always stand against the same value – I would have expected a different phrasing from you.. But maybe I’m just misunderstanding you right now.

Get used to high prices, I had to too, but also listen to your gut feeling. Megalomania has never helped anyone.

but only keep an eye on the rate and forget about the total debt? And whether the house always maintains the same value against it

At that scale, it hardly matters. Hence my statement. With a purchase price well under €300k for a good property, it is almost certain that problems will never arise. The rent for the house will be roughly equivalent to the rate (despite about 2.5-3% repayment and 110% loan-to-value). Therefore – unless it is really in a disadvantaged location – an exit in case of financial difficulties or divorce will always turn out well (the purchase ancillary costs are recouped within 3 years). That is why, in my opinion, the financing amount is secondary (even if it already frightens the average German since everyone only looks at the debts and not that assets stand against them).

1,100 and approximately 400-500 additional costs. You have to want it.

1,100 and about 400-500 additional costs. You have to want that

How do you come up with such high additional costs? In my opinion, this is for the first time in a long while a financing that deserves the label "healthy". We've had special agents here who financed nearly double the amount with comparable income. Even as 110% financing, with this amount it is practically risk-free.

How do you come up with such high additional costs?

In my opinion, this is for the first time in a long while a financing that deserves the label "healthy." We have had special agents here who financed almost double the amount with comparable income. Even as a 110% financing, this amount is practically risk-free.

I also assumed such high costs. 1100 euros installment 250 euros electricity, gas, water 70 euros property tax - estimated. Then 10% of the property tax amount - local church tax 25 euros garbage Surface water drainage 100 euros p.a. Life insurance risk for him/her 50 euros Residential building insurance 25 per month Food / hygiene articles 700 per month Cigarettes 450 euros per month Household contents and liability insurance - 11 euros Gasoline, car insurance, car tax, pill, GEZ, contact lenses - 350 euros per month Phone, internet, TV - 75 per month Mobile phone him/her 90 per month Union 30 per month Savings lottery - 50 per month Reserves house - 150 per month totals 3500 euros With 4200 income, 700 euros remain. Best regards