Is financing feasible? Stuttgart's Speckgürtel

I am curious about the opinions. We are also about to build a semi-detached house in the commuter belt of Stuttgart and can fully understand your situation. The amount does not surprise me; it has become madness here by now.

How large would the plot and the semi-detached house be?

The amounts are also a reflection of the income. In the countryside, you are considered a big shot with 7,000 net and could live like a king. However, it will also be much harder for you to reach 7,000 net here, even as a couple. In Stuttgart, you probably belong to the upper middle class with that income and can just about afford something like a semi-detached house. Crazy, but the price of urbanization. We, living in the countryside with just over 4,000 net, are probably comparable or even better off.

On the topic: Sounds definitely doable, although for the country bumpkin the debt amount really seems scary.

Thank you for the answers so far. The jobs are separate: 1x automotive industry and 1x mechanical engineering industry (no connections to the automotive industry).

We both also grew up in rural areas, so the amount seems high to us. The monthly rate that results from it, however, does not make us nervous...

Briefly about the motivation again: Our goal is to invest soon because we do not want to move again after child 1 starts school. We cannot stay permanently in our current rented semi-detached house.

I am curious about the opinions. We are also about to build a semi-detached house in the Stuttgart metropolitan area and can fully understand your situation. The amount does not surprise me; it has become madness here by now.

How large would the plot and the semi-detached house be?

Plot approx. 350 sqm, house approx. 150 sqm

With your income and saving behavior absolutely feasible.
A conceivable concept for the desired rate would be a 25/30 year full repayment loan. This way you have interest rate security and will definitely be debt-free before retirement. With your quite high savings rate, a shorter term combined with annual special repayments would also be possible.

We are aiming for the latter. Two loans, one with a 10-year fixed interest period and one with a 20-year fixed interest period. Initially, Loan 1 will be (almost) fully repaid with special repayments. Loan 2 will run until then with about 3.5% annuity. As soon as Loan 1 is finished, the special repayments will go to Loan 2. That way, most of it should be paid off after 20 years.

My thought here would be: In the current unclear economic situation, I would wait first before committing to a loan of 710,000 euros. And half of the income depends on the automotive industry, which is undergoing a fundamental change. The risk has to be liked, but there is always something.

I would wait first regarding the economic situation before taking on a loan of 710,000 euros

I don’t believe it will get better.