How much should a house cost

Hello,

I would like to know what you say, given our financial means, what house purchase price is possible.

He: 35 Net 3300 €
She: 33 Net about 400-500 € (self-employed and due to the child no longer the income as before) Consideration: when the child goes to daycare in 2017, a part-time job will be taken. About 1000 € net but then no private provision etc.
+child benefit 184 €!

Our current cold rent is 720 €, warm 1050 with electricity, heating, parking spaces, etc.

Equity is available in the amount of 175,000 €

We have started looking at used houses from 250-450, everything was there.

We are just not sure if we can really manage a house of 400,000. Bank says sure! ;-))

What are your opinions?

Even conservatively with the 3800 €, you can finance 400 T € with 170 T € equity. A 1200 € installment will buy you about 260 T € at 15 years and 3% repayment (probably a bit more since you have a lot of equity). For a more precise evaluation, your expenses would be necessary.

Of the 175 equity, usually something still has to be paid for the broker, notary, etc., with 400,000 it is around 50-60 thousand, then there is not much equity left if reserves are still supposed to be included, right?

KP 400
+6% property transfer tax, 1.5-2% notary fees, 3.57%-7.14% broker
Worst Case therefore +15% additional purchase costs = €60K
+ amount X for renovation/moving

total estimated costs €470K

less equity €175K

= financing amount €295K

x interest rate 2.5% + 2% repayment = 4% annuity

about €1,100 monthly installment

Thank you, but I would be completely clueless about any repairs! ;-))

The invoice can still be adjusted once the property, the condition, and the total amount of the brokerage fees are known. However, I wouldn't consider it impossible at this point. In general, you still seem to have saved quite a bit despite the 720€ cold rent, or is the equity from an inheritance?