How much house can we afford?

Thank you very much for your assessment, the project consists more or less of 2 purchases, our wedding and a new car, because one of our cars was very, very old. We have now decided to look in detail over the next 2 months at what expenses we have and what we really have left. Unfortunately, with the building society savings contracts, I was taken advantage of because of my own stupidity back then... but that was on me, a 100,000 euro building savings sum with a 200 euro savings contribution just doesn’t make much sense. As I said, with our monthly income we are doing great so far, but compromises have to be made if the house really comes someday. We would actually like to wait about 3 years, which could easily bring 18,000 euros more in capital. But our rental apartment is simply too small, and moving to another rental apartment again is just wasted money, or how do you assess that? Regards Daniel

I held back for a long time, but you have now realized for yourself what I would advise you to do. I am a young father myself, a few years older but can quite well follow your train of thought. I don’t understand where the high financial effort in a move is. You can move with a maximum of €2000 if such a persistent realtor is involved. You just have to do it yourself... rent a car, do the work yourself, paint yourself. And if you know that it’s not forever, white paint just has to do. Or you ask the landlord for a contribution to the material costs. I would, in your place, get married first, renew the car, then save for a few years... always keep an eye on the monthly expenses. Then you will also have more security when you start the project again. Maybe also talk about the project with the family... maybe the newlyweds will then get a small financial cushion to start with.

The wedding and the car are now almost completely saved up, then it immediately goes on to the savings account for the house purchase.
Sure, the southern part of Duisburg is very popular, and compared to the rest of Duisburg really beautiful!
So, about renting: I just make my thoughts, if I renovate cheaply now and fix up the apartment I also come to 2000 euros, that would work. But the rent would of course increase significantly, which I could save less from. That's why I wonder if buying wouldn't already be the right thing.
But well, slowly I'm getting wiser there, and with the 1% financiers it also sounds logical.
Let's wait and see what we will achieve this year. In the family I will certainly not ask and hope that we will be helped there. That’s not our way :-)
Can someone tell me where I can just get information out of interest about how I could sensibly offer my life insurance as collateral? A friend tried to explain that to me yesterday, but I think he didn’t know what he was talking about.
Best regards Daniel

Sorry, I also agree with Der Da and Bauexperte: first rent something new, paint for an apartment costs only half as much as for a house, and the move probably costs the same?! (You can organize it super cheaply with the football or sports club) ...wedding, catch your breath and a new car... But if you think it doesn't pay off to save for a few years, then just start looking for a property: it always takes longer than you think. Some flaw always bothers you, even if it's the price or overthinking. It can take 2 - 3 more years until you find your perfect home, until then you'll have to put up with your little place... just don't rush anything ;)

Can someone tell me where I can just inform myself out of interest about how I could sensibly offer my life insurance as collateral? A friend tried to explain something like that to me yesterday, but I think he didn't know what he was talking about.

In the form of an assignment of collateral that must be reported to the insurance company. You then assign your claims from the life insurance to the bank.

Example: So far, €50,000 have been paid into the life insurance, then the bank has an additional €50,000 in security and can then, for example, offer a low interest rate or even offer the financing at all. If then the collateral event (your inability to pay) occurs, the house will be "realized" first; if there are still outstanding debts, the life insurance will be accessed.

Ah cool, thanks for your good explanation, is this used often or is it rather an exception? It might be an emergency idea that you could fall back on if a dream is ever found after all.