Is financing feasible? New condominium construction 930,000 with equity 170,000

Maybe a second Marcus? o_O

Maybe a second Marcus? o_O

I mean Marius...

Yes, we are throwing tables from the Federal Statistical Office at each other here, and the OP is already off in the Gobi Desert again.

One million for a condominium alone would not be my world, but I assume that is justified because I am a country mouse and know too little about city mice. Then I find:

[*]The latent and less latent criticism of the OP's savings rate a bit presumptuous. They have a small child, it can be assumed that there wasn't always 9k net available so far. Parental allowance is capped at 1.8k. Having saved 225k with a small child is decent. Maybe the OPs only met in their late 30s? Don’t always presume too much when we don’t know the people.
[*]The remaining debt after 20 years is too high. That’s a matter of taste. Being debt-free at retirement would certainly be more relaxing, especially since the income seems to be there to handle it.
[*]Discrepancies in the income/expense situation. Mobility costs are missing; otherwise I could not understand how 9200 net minus mortgage + school fees + living expenses should leave 1500€ remaining. Something is missing there.

So if the special repayment of €7,000 per year is made, the remaining debt doesn't look so bad anymore. That's €140k in 20 years plus the resulting saved interest. I would say that overall it fits.

The remaining debt after 20 years is too high. It's a matter of taste. Being paid off by retirement would certainly be more relaxed, especially since the income seems to be there to manage it

Have you ever thought that after 20 years of fixed interest, the follow-up loan is reassessed, and if at the age of 68 there is still €280k outstanding, there might be no loan or only with a nasty risk surcharge? It's not as simple as you imagine. It's the same as when the income situation changes negatively for the follow-up financing and there is only one salary left.

Have you ever considered that after 20 years of fixed interest, the follow-up loan is re-evaluated and if at 68 years old there are still €280k outstanding, there might be no loan or only with a nasty risk surcharge? It's not as simple as you imagine. It's the same as if the income situation changes negatively at the time of refinancing and there is only one income left.

However, the evaluation should also take into account that you then have a condominium that (hopefully still?) is worth a million and is three-quarters paid off. The money you have repaid over the previous 20 years will presumably not be considered "gone" in the evaluation. So if you still have €280k outstanding but also have €600k in property value, the risk for the bank should be manageable.

Unless the big real estate bubble bursts, and the condominium is no longer worth a million. Then the OP has a problem. He, and many many others too. But that is a completely different issue.