How expensive can the property be?

Hello and welcome, I normally stay away from this part of the forum. In my opinion, requirements for equity and income are often set too high. Here, even I would say building a house is one or two shelves too high for you. If you can do a lot yourself, perhaps a house in need of renovation might be something for you? Tips to change the situation: Can't the woman start earning income relatively soon (from the baby's first year)? Even 800 EUR net could make a big difference here. Bafög loan: Can't it be redeemed early and save a lot that way? I mean, back then I got a 20-30% discount. If you actually have 30,000 EUR equity, do it immediately. Or is that option no longer available? In what kind of area are you looking?

I see it a bit differently: The interest-free, state-guaranteed Bafög loan really poses no problem at all for banks. Why should you repay this loan all at once, except for the feeling of being debt-free? However, then you shouldn't tie yourself down with a real estate loan of several hundred thousand. Since the time of large discounts is also (unfortunately) over, there is no reason for me to repay this money early. Time is working in my favor...

Hello and welcome,
I usually stay away from this part of the forum. In my opinion, too high demands are often placed on equity and income.
Here even I would say, building a house is one or two shelf rows too high for you. If you can do a lot of the work yourself, maybe a fixer-upper existing house would be something for you?
Tips to change the situation: Can't the woman generate income soon (starting from 1 year baby)? Even 800 EUR net could make a big difference here.
Bafög loan: Can't it be paid off early and save a lot? I mean, I got a 20-30% discount back then. If you basically have 30,000 EUR equity, do it immediately. Or is this option no longer available?
What kind of area are you looking for?

1) That is also the plan, that she takes a part-time job as soon as possible. So from that perspective, we have my 1.5k and her 600-800 euros from the part-time job available for repayment.
2) The area is Lower Bavaria
3) Early repayment is not worthwhile because of interest-free repayment and I do not get any cancellation

Between 300k and 350k EUR would be a reasonable financing (800-1,000€ installment). But for that, there is only existing property, more likely a condo. More is only possible if your wife works and earns money. In your place, I would look at existing properties with a maximum purchase price of 300k EUR.

1) I would have 1,500 euros freely available (after deduction of all fixed costs, insurance, car, electricity, ...). Why should the installment then be so low? I had already calculated between 1k - 1.3k..
2) And what about the option of full financing?
3) I had calculated around 350k and in our rural area that should not be a problem, at most it will cost 400k here including land.

New construction is currently unrealistic. I see a maximum loan amount of 250k to avoid a too "tight fit"

1) Seems a bit pessimistic, doesn’t it?
2) And what about the option of full financing? I’m a civil servant and have about 1.5k freely available monthly. 1,000 - 1,200 would be a possible installment.

It only makes sense to repay Bafög early if the amount is less than 10k, otherwise you can simply repay Bafög monthly...
In this case, it would be worthwhile....

1) You are right, but repayment is already ongoing, which means early repayment would not lead to any cancellation for me

The living expenses of €800 seem very low to me for three people. What is included in that? Here is a detailed questionnaire, you’d better use this.

1) That is also the plan, that she takes a part-time job as soon as it is possible. So in that sense, we have my 1.5k and her 600-800 euros from the part-time job available for repayment.
2) The area is Lower Bavaria.
3) Early repayment is not worthwhile because it is interest-free repayment and I do not get anything waived.



1) I would have 1,500 euros at my free disposal (after deduction of all fixed costs, insurance, car, electricity, ...) So why should the rate be so low? I was already thinking of 1k - 1.3k..
2) And what about the option of full financing?
3) I was thinking of about 350k and in our rural area that should not be a problem, it will cost at most 400k here including the land.



1) Seems a bit pessimistic, doesn’t it?
2) And what about the option of full financing? I’m a civil servant and have about 1.5k per month available. 1,000 - 1,200 would be a possible rate



1) You’re right, but repayment is already running, which means early repayment leads to no waiver for me.

Well then you’ve already made the decision....
And if it will be a maximum of 400k, then everything is fine.

Are the 3100€ in tax class I or IV? And why a side job instead of part-time work?

The cost of living is likely estimated higher by the bank for 3 people, more towards 1000€ - 1100€. You don’t know the expenses for the child, but they are certainly around the amount of child benefits, rather more. Very frugal people can of course manage with 50€, but I assume that is not the case here.

How high is your continuous savings rate – or did you keep a household budget? Have you been saving the 1500€ every month over several months? And have you included all the additional costs for the house? You don’t only pay the installment. The rule of thumb is a maximum of 1/3 of income for housing, with additional costs better included there. Without your partner’s job, I consider your idea of up to 1300€ installment unrealistic. But even with 3900€, it gets tight if, as you said, you haven’t factored in vacations, all insurances, or a car reserve.

If the woman goes to work, a daycare fee is due. And it can range between 200-600 €. This should also be taken into account in the calculation. Sometimes a 600 € job is not financially worthwhile.