How much does it cost to buy or build a house?

Hello,

We are considering moving into a home. I am not quite sure how far I can go right now. It is my first house.

We keep looking at houses from time to time, but then we feel uncertain.
Since the market is extremely tight from my perspective, building is also an option. Simply because nowadays, from my point of view, you already have to shell out nearly 300,000€ for houses that are almost completely in need of renovation.

Regarding the finances. (for this project, I will be the only one considered for the purchase, as if I were buying alone; how we arrange this with my girlfriend is still open... rent... etc.)

Net income 4225€
Expenses about 1800€ per month at the moment.
Equity 145k€ (saved in the last 6 years)

We keep seeing properties that might suit us, but nothing under half a million. Now the question is whether this would be feasible with the given conditions.

I would appreciate feedback and a good discussion.
Regards

You trust yourself to do 2000 payments per month? That’s 24 per year, 240 in 10, 480 in 20 years. Plus interest. Now continue calculating yourself. Karsten

Hello, what you can afford from the bank's perspective you have to google or visit your house bank. Some direct banks have calculators that roughly spit out what you could finance. But it is something else what you want to afford. At the end of the day, you decide. People are happy with a maximum of 25% of net income for the property. The higher the burden, the higher the pressure at work and the slave of the bank. What I don't like is again the constellation. Girlfriend moves in and pays rent. I am Serbian and rather cool when it comes to romance, but I have a certain pride in such matters. Is it a short-lived girlfriend or the girlfriend who will be the mother of your children? Then it would be fairer if she buys in too.

You saved 145000 euros in 6 years? So you would have 435000 euros in 18 years. I don't understand why, with that saving potential, you can't afford a house for 500000 euros. You have enough equity to get a cheap remaining loan.

You become happy at a maximum of 25% of the net income for the property

The formula doesn't work. It may be true for low incomes, but for high earners, 25% is not enough.

Great salary! You can do a lot with that.
In terms of family planning or partnership: please do not forget that at some point you also give naturally, that is, you let the partner participate without compensation.