Is it possible to buy a condominium?

Hi,

my wife (34/41), our son (1 month), and I never wanted to buy, but now our apartment is being sold and it was also offered to us, since we would like to stay here we are now considering it. The apartment is supposed to cost €275,000, we currently have around €25,000-30,000 available due to various things. We pay €1,250 rent, according to the landlord the [Hausgeld] is €325 and the house was only built this year. My wife is currently on parental leave (for 1 year, [Kiga Platz] we have after that) and we then earn €2,700 and €2,100 net. We would like to end up with around €1,300-1,400 per month including [Hausgeld], is that doable?

Financing requirement 255. I'll just include notary and so on. 20 years. You are young enough for that. That makes 13 just under per year or about 1000,- per month. Interest on that. 25 per month. Plus 375 service charges. 1400,- Works. Talk to the bank.

Example calculation:

Credit requirement:
275,000 EUR (equity for incidental costs):
20 years fixed interest at 2.5% nominal interest and 2.5% repayment
= 1,150 EUR per month

Remaining debt after 20 years = 97,000 EUR

1,150 installment + 325 maintenance fee
= ~1,500 Euro per month housing (31% net)

Compared to rent payment, in my opinion absolutely worthwhile!
Consider also: Possibly lower salary with part-time after parental leave, daycare fees etc. ...

should be feasible. If the apartment suits you, that's great.

Talk to your house bank and also get an offer from the broker.

If I were you, I would go for a 15-year fixed interest period.

The ratio of the rent paid today to the requested purchase price is of course unfavorable (but probably corresponds to the current market environment). In other words: The apartment is very expensive as a purchase object.

The ratio of the rent paid today to the demanded purchase price is of course unfavorable (but probably corresponds to the current market environment). In other words: The apartment is very expensive as a purchase object.

No, the ratio is excellent! I would definitely do it under these conditions. Provided the stated rent is cold rent.