House purchase planned at the beginning of 2015 - No equity

The probation period lasts a maximum of 6 months under German law, and I would not accept a fixed-term employment contract either. I also see no problem in postponing the house purchase by 6 months; after all, that is not a fixed plan. My income is not exactly low, and the bank's advice is anything but self-serving or naive. No one there can afford that.

The fact that all the houses are in need of renovation is also pessimism; certainly, some are, but buying a house without 1-2 expert reports would not be an option for me either.

Wrong. According to German law, there is no limitation to 6 months. A probationary period can also be extended.

No, in this price range in the [Spreckgürtel Rhein Main] there is no house without any renovation. An expert also costs money.

The plan was actually to set aside another €10,000 after the car.

That is then only play money from which you will have to pay the incidental costs for the house purchase, and you also want to keep a small reserve (for example, with us €15,000 that we will not touch).

On the subject of the probationary period, to my knowledge, regulations > 6 months are legally invalid for the time being. An extension of the probationary period is only possible by mutual agreement. Since I am not a lawyer, I could very well be wrong here, I have never had the case either... On the subject of the need for renovation, advertising must also be carried out according to certain standards. Possibly we also receive objects offered from the bank’s portfolio, that would be a lucky coincidence if there is something suitable... (I rule that out). Experts cost money, but in relation to the house price, these are just pennies - if I am wrong, please correct me. For me, the expert is the last authority before loan approval/notary when buying a house. Otherwise, I see the whole thing pretty much like you do, but the negativity is a bit too much even for me. Assuming I buy a multi-family house for 250-300,000 €, then I would have already indirectly covered the incidental costs, likewise 10,000 is not peanuts, but I think you are right that this amount still needs to be increased. Possibly I am also starting to sound flattering, but I do miss a bit of constructive criticism.

Experts understand each other anyway, but assessing a construction site without any knowledge screams miscalculation and is something for the TV format ...

Otherwise, I am well aware that the search process for the house can take months or years. That’s why we have now also started to request viewings.

Hello MacGyver,

it is completely understandable that you want to create your own nest.

The advice and assessments of the forum members here are based on the experiences each individual has had and are meant to save you from the worst (possible bankruptcy).

You write further above that you think it is possible to get a house for your price expectations that hardly has any backlog of repairs. Considering the region you are searching in, this will be very difficult. You yourself write that the search will take a long time. Take it slow. If you find an interesting offer, look at the property calmly and don’t let yourself be pressured. At this point, many properties will already end up on the reject list. If you think it could be something, then arrange a second appointment with an expert. Based on their judgment, you should decide together (women often have a completely different perspective than us guys) whether the purchase price plus renovation effort is acceptable for you. Don’t overestimate your strength either. At the latest when you are three, you will need the strength and your time for the little ones.

In the meantime, you should use this time to finally build up your equity. Furthermore, I strongly recommend the above-mentioned tip to keep a household budget book. All expenses — really all — you have belong in there (from regular costs to the purchased bread roll). That way you can see where the money goes and how you can plan.

You have enough time — don’t rush it.

10,000 is also not peanuts...

Yes, in the area of buying or building a house, that is peanuts. Anyone here will surely confirm that to you.