Is it ever possible to finance a house?

Statements like: I once had money and then thing XY "got in the way" should be quickly removed from the vocabulary. For every euro that you haven't saved by the end of the month, you come up with a new excuse. Sometimes a new washing machine is needed, sometimes the car was broken. This doesn't stop with the house. You should actually build up such reserves if you can, and if nothing is left beyond that, you should honestly (this is the crux of the matter here) ask yourself what you can be good at.

Of course, you usually only get married once and children don't come into the world every day, but it's the same with the house – you should think carefully about what you are getting yourself into.

In principle, I agree with you, of course. But I don't see it quite as critically, especially if you have maybe only worked for 3 or 4 years (during studies). It was similar for me: within the first 3 years, the first real own apartment came (you have to furnish it with some furniture), the first car (to get to work), marriage, and then one child. That amounts to a hefty sum all at once. Once you've established a foundation, then the next purchases do not come within the next few years (at least not the bigger ones), and above all, they don't come all bundled like that. Of course, if someone has always lived extravagantly and maybe went on vacation 3 times a year, they will also have a hard time in the future if they have a house. Because generally, you don't want to give up all the "luxuries" you had before.

Exactly. These are also not excuses for why we couldn't save. We have always saved, otherwise we wouldn't have been able to furnish the first apartment, have a big wedding including a trip, and anyone who has a child knows how much an initial outfit costs nowadays.

I just wanted to know how realistic it is.
Thank you for your tips and your opinion.

I just found it strange that you can't afford a house with 3600 euros but can and are expected to pay 1000 to 1500 euros rent without problems for your whole life. Especially since we both have very secure jobs.

The problem is that many people (and with this, I am not necessarily talking about you) forget that a house simply has higher ongoing costs than a rental apartment. First of all, a house is usually bigger than the rental apartment, meaning utility costs are higher, property tax is higher, etc. If you live in a rental and something breaks, you call your landlord and it gets repaired, and you have no additional costs... You move out and the laminate flooring is replaced—the landlord pays... etc.... And not all costs the landlord has can be passed on in the rent. If you are a homeowner, you pay for everything yourself. That means you need to have/create sufficient reserves in case something breaks or needs/should be redone. The heating breaks down—you have to pay. The electrical system needs to be redone—you pay. This game could go on endlessly. The statement that you could afford a house for the same money you pay in rent is, in most cases, complete nonsense, at least if you start from the same conditions. Many people just don’t understand that.

3,600 € is, as mentioned, not a bad amount of money, but for a full financing of a new build, perhaps still not sufficient. A used property can certainly be financed with that (depending on the region and equipment).

And you also have to say (and this is also not directed at you): not everyone has to own a house. Those who don’t have quite as much money and rent but can comfortably go on vacation twice a year may be in a much better position than someone who puts all their hard-earned money into a house just for the sake of the house. As nice as owning a house may be, if I had to “strip down” for it, I would pass.

Exactly. These are not excuses for why we couldn't save. We have always saved, otherwise we wouldn't have been able to furnish our first apartment, have a big wedding including a trip, and anyone who has a child knows how much a starter kit costs nowadays.

I just wanted to know how realistic it is.
Thanks for your tips and your opinion.

I just found it strange that you can't afford a house with 3600 euros but can pay 1000 to 1500 euros in rent your whole life without problems and are supposed to. Especially since we both have very secure jobs.

I'm saying, there are things you don't buy every year. But it distorts the picture.
What is the wedding in one year is the child in the next and new furniture the year after. Then next are the costs for a new car (even if just a down payment), afterwards maybe another vacation because the last one was 4 years ago at the wedding. Then some repairs on something... And so you have costs every year that individually "don't come every year." And then — let's be honest — you catch yourself thinking: the savings goal was actually 5,000€, now it's only 3,000€. Well; the new dishwasher and a new set of tires were also necessary, but you don't buy those every year... Right, but next year other usually "unexpected" costs will come.
The nice thing about this example is that at least 3,000€ were saved.
More or less, "unexpected" costs eat away savings almost, completely, or beyond that. That's just unfortunate.

Saving and building reserves are two different things that add up.

I'm not assuming you can't save either. Otherwise, these expenses wouldn't have been possible, but nothing was left over. For whatever reasons.

The question you have to answer yourself is:

How much money remains (as of today) after deducting all (!) costs. Then add the rent back in. Deduct additional housing costs for a house including about 2.50€ per sqm living space in reserves again. Whatever remains, you have for the loan. Your bank will tell you how much money you get for it.

If it is not enough, recalculate when the financial situation has changed.

By the way, I know what a child costs.

How much money remains (as of today) after deducting all(!) costs. Then add the rent back on. Ancillary housing costs for a house including about €2.50 per sqm living space reserves again deducted. What remains then, you have for the loan. Your bank will then tell you how much money you get for it.

Nothing more needs to be added to this paragraph, of course. And with all your "extra expenses" you are of course more than right. That’s why you should also keep a household budget book and realistically check which extra costs will occur annually, in whatever form. Nevertheless, the expenses for a wedding (for most people) or the initial furnishing of a first apartment are disproportionately high. Despite special expenses, which will definitely occur every year in some form, emer is right, sufficient reserves must be created, otherwise the whole thing makes no sense.

I just found it strange that with 3600 euros you can't afford a house but you can and are supposed to pay 1000 to 1500 euros rent your whole life without any problems. Especially since we both have a very secure job.

Hello,

That is possible, but you don't have the 3,600€, you currently only have 2800€ and afford – without wanting to criticize – a standard of living that leaves you no room to save. That is not bad, but it is a fact. Obviously, you also haven’t sacrificed much for your “dream” so far, so the statements of the other users here are also correct that you can’t just whip up a house with 3,600€ net without equity in 1-2 years – especially in the DA/FFM area.

On the other hand, it is not unusual to build or buy a house in your mid to late 30s, so why not give yourselves 3-4 years, test your finances, and think it over calmly. As you describe it, it all sounds like... we have the money and the idea and it has to work within 2 years at the latest. What will slip away from you in 3 or 5 years?

In my opinion, nothing at all.

Best regards Dirk Grafe