House purchase planning - but completely uncertain

Hello everyone,

I would first like to reflect a bit on my situation in order to possibly receive some good advice.

My girlfriend (31) and I (30) (a couple for 12 years) - living in Offenbach am Main - would like to slowly start looking for something more permanent, as family planning is inevitably approaching and the house of the rented apartment will need renovations in the medium term.

Field of work: Accounting / Consolidated financial statements
Her salary: €2500/month net plus holiday/Christmas bonus
Permanent employment for over 10 years in a regional energy group.

Field of work: IT
My salary: €2500/month net plus holiday/Christmas bonus
Job change / new permanent position in a large German tourism corporation

Our current warm rent is approximately ~€1000.

We both have jobs in the Rhine-Main area, and also want to stay here because of our social environment; she commutes to work by public transport - S-Bahn connection is therefore mandatory.

Our equity is manageable. I would estimate a total of €15,000 in cash deposits/stocks/etc., and I also have a building plot in my birth town, which I would not necessarily want to sell, but I do not want to live there myself. The value is conservatively estimated at €20,000.

Unfortunately, the very high sales prices (I think like everyone else) currently deter us quite a bit. Including the realtor, there are almost 14% additional purchase costs almost everywhere. A condominium is actually not an option for us. The property should ideally have the possibility of a rentable granny flat or retail space.

The question at the end of the day is: Is real estate financing realistic under these conditions, since we naturally do not want to strangle ourselves financially? If yes, which option? Does it make sense to keep monitoring the market and wait? Building equity in this regard is naturally difficult, as one does not get younger.

Thank you for your advice.

I am surprised by the low equity. 5000 net, if it is a good month, €2500 should be saved?! Also the question about children or not. Otherwise, it is recommended to save towards an 80% financing.

regards

Hello, I know the prices in Ffm and I am a commuter myself. 5k net and only 15k equity for a house wish does not fit in Rhein Main. What do you do when children are expected? Not unrealistic at your age. Part-time costs money. Alternative would be commuting, which I do. but I did not want to go back home, somewhere where it is cheaper

Hello, I know the prices in Ffm and I am a commuter myself. 5k net income and only 15k equity for a house wish do not fit in Rhein Main. What will you do when you have children? Not unrealistic at your age. Part-time work costs money. An alternative would be commuting, which I do. But I did not want to move back home, somewhere cheaper

It doesn't have to be FFM. But it has to be the greater FFM area with S-Bahn connection. I am already commuting today, so to speak, even if only 15km one way. And with the S-Bahn, the only realistic surroundings for me are Hanau/Mühlheim or Obertshausen/Rodgau. A second car doesn't come cheap either. The partner commutes to F-Höchst by train.

It doesn't have to be FFM. But it has to be in the FFM vicinity with S-Bahn connection. I already commute in a sense today, even if only 15km one way. And with the S-Bahn, realistically for me, only the Hanau/Mühlheim or Obertshausen/Rodgau area remains. A second car doesn't cost little either. The partner commutes to F-Höchst by train.

The core problem remains. The commuter belt is expensive, as you have already written. I don't see new builds with you. Existing properties certainly cost 500k upwards. Means anyway over 100% financing for you. You don't address my questions. Where does the money disappear to and what about the desire to have children?

See no possibilities here to build a house, the equity is too low and unfortunately the net salary as well.

One option would be to buy something in need of renovation and then bring it up to standard with a lot of personal effort.

But for that as well, at least 50,000, preferably 100,000 equity should be available.

So analyze finances and save properly for the next 5 years.