Is buying a house at all possible with our income?

Dear forum members,

I have already sifted through some threads, but now I would like to make my own request and would be very happy to receive your honest assessment.

My partner and I want to own a home. A few key facts about us:

- 27 and 33 years old
- he, permanently employed in web development part-time, €1,800 net
- she, permanently employed as a project manager, full-time, €1,800 net
- he also works freelance, income varies, averages €1,000 net
- we both have to pay back BAföG or student loans
- our monthly expenses are about €2,000
- we want to have 1 child at some point

We have found our dream house, for €300k, without realtor fees. Financing offers are available. It would definitely be a full financing, our equity is so low that it is negligible. The monthly payment would be €1,200 over 30 years. The house is a new build, energy-efficient KfW55, terraced middle house. Those are the rough key data.

My question to you: Is it financial suicide to finance this house? With a comparatively low salary and no equity? Aside from this particular house: Is it even worth thinking about buying a house with such a salary, or should we better forget the idea immediately?

I would really appreciate your honest feedback.

Best regards Sandra

Hey, can you break down what is included in the 2000€ expenses? If I calculated correctly, you would have 1400€ left monthly?

Hey, thanks! The €2,000 includes: - Purchases, groceries - Insurance - All costs for the car - Costs for leisure, culture, etc. - Costs for the dog - Clothing - Internet, mobile phone ...Basically our living expenses. The current rent + additional costs are not included. Also, nothing has been saved with this yet.

What have you planned as a savings rate for repairs etc. and what do you calculate monthly for additional costs with the house?

Additional costs incl. insurance estimated 200-300€, savings rate 100€? I think this is the crux of the matter. I consider the savings rate to be too low.

How big is the house? As far as I know, it is advised to save at least 1-2€ per sqm per month as reserves