House search - Construction and purchase of single-family house / granny flat

These wishes are definitely feasible and realistic. After all, it is a matter of one's own level of investment.

Why I prefer a granny flat.

Well, with such an investment I naturally think until the end of life.

Especially since I also consider possibly taking in my parents someday, so as not to have to put them in a home, or to offer my little one a chance to "live at home".

Why a basement?

Storage space for work utensils, hobbies, etc.
Garage also for hobby and car.

With my wishes, I am here in the area depending on the location between real estate prices of around 250-350k€ for buildings from the 60s.

Hello, with a 1000 e rate without equity you will receive about 264k. Whether it is realistic to implement your wishes? I don't know

Oh, only 2% repayment

The 60s properties very, very often have a backlog of renovations. I myself have bought and renovated two houses from that year of construction. With a lot of personal effort, good planning, and windows, roof, cellar that were still in order, 70k€ was spent. This included water/sewage, heating, and complete electrical work. So you will NOT stay at the purchase price of 230k€. And you have stated that as a lower limit. With additional purchase costs, you are already at least at 250k€. On top of that comes the renovation... I can understand the rental situation. But maybe you should rather sort out your private life and save for a few more years.

Putting private life aside, after all, deciding to finance a home is not something made overnight. The idea came to me already at the end of my training and is strengthened even more by our current landlords, very difficult people..

And I definitely do not want to have to rent somewhere else again. As I said, the aspect of still paying money to others plays a big role. That’s not how I was raised and that’s not what I learned; maybe that seems wrong to some, but that’s my attitude.

I thought of a monthly rate of up to €1000 with 2-3% repayment and this fixed for at least 15 years.

Is this appropriate nowadays or should it be restructured?

Why do I want to buy a property soon? Well, I also think about myself, my health (currently very healthy), and I want to have everything paid off by the latest at the age of 55.

Am I thinking unrealistically and wrongly?

Putting private life aside, financing a home is not a decision you make overnight. The idea came to me already towards the end of my training and is reinforced more and more by our current landlords, very difficult people..

And I certainly do not want to have to rent somewhere else again. As I said, a big part of it is also the aspect of paying other people money. I was not raised that way and I have not learned it that way, maybe that seems wrong in some people's eyes, but that's my attitude.

I was thinking of a monthly installment of up to €1000 with 2-3% repayment and fixed for at least 15 years.

Is this appropriate in today's times or should it be restructured?

Why do I want to buy a property soon? Well, I'm also thinking of myself, my health (currently in perfect health) and want to have everything paid off by the age of 55 at the latest.

Am I unrealistic and wrong?

No, not unrealistic. You are 24 and want to be finished by 55. That means with 2% repayment it will come down to a term of 30-31 years.

But still, with a maximum installment of €1000 depending on the interest rate, you will receive a loan of €250-275k.

One thing is the wish (1000 installment) what I want to have (single-family house with a granny flat, etc.), the other is the amount I get to realize this. It probably won't be enough to get something like that in your region.

Have you also thought about the additional costs that come on top of the installment? I know the area. Buying a house there is still more feasible than in many other places – but it depends on your expectations. A newer house in, for example, Attendorn, with that size and without equity is rather unlikely. But if you move to a smaller town and buy an older house (half-timbered?) and can do a lot of the work yourself... then more square meters are possible, from which you could separate a granny flat. But you also have to be willing to do that and invest a lot of time, which you have little of when working full-time and with a child.

But just as a thought exercise in case you really want to cover everything with the 1000 €. Because ongoing additional costs and reserves are often forgotten in calculations. If those come on top and you could still pay child support and possibly support a girlfriend, it looks better. But I could not quite read that from your details.