Is it sensible to buy an existing property at the purchase price? Financing?

Hello Alina1991,

first of all, it should be said that your initial situation leads to an approval of a financing request.
Equity must be increased by 8,000 euros of externally financed equity.

I also see some buffers that improve the already balanced household budget calculation.

A representable financing concept could look as follows:

1) €350,000.00 / fixed for 15 years / nominal 1.72% / effective 1.75% / interest and repayment rate €1,085.00 /
repayment rate 2% / construction interest-free period 6 months / 5% special repayment option

2) €8,000.00 / 96 months term / nominal 5.69% / effective 5.84% / interest and repayment rate €108.63 / repayment rate 9.90%

Component 2 can also be reduced in interest with a shortened term of 72 months

or including car loan payoff (for the representation I assumed €10,000 residual debt)

3) €18,000.00 / 15 years term / nominal 5.39% / effective 5.53% / interest and repayment rate €146.04 /
repayment rate 4.346%

can be stretched.

Thank you for the answer. But if the loan expires in 15 years and we have to refinance, I will still have a large remaining debt which will probably break my neck with likely rising interest rates, or am I seeing this incorrectly?

Thanks for the reply. But if the loan expires in 15 years and we have to refinance/new finance, I will have a large residual debt that could probably break my neck with likely rising interest rates, or am I seeing this wrong?

You don’t know that (crystal ball), and I also don’t know what kind of special repayments you can/will make.

Certainly, a longer fixed interest period can also be considered:

A) €350,000 / 20 years fixed / nominal 1.95% / effective 1.98% / interest and repayment rate €1,152.08 / repayment rate 2% / special repayment option 5% / interest-free construction period 6 months

B) €350,000 / 25 years fixed / nominal 2.20% / effective 2.24% / interest and repayment rate €1,225.00 / repayment rate 2% / special repayment option 5% / interest-free construction period 6 months

C) €350,000 / 30 years fixed / nominal 2.35% / effective 2.39% / interest and repayment rate €1,268.75 / repayment rate 2% / special repayment option 5% / interest-free construction period 6 months

Currently in a fixed-term employment contract of 20 hours and a monthly net income of 1300.00 euros. However, I will end this soon and start family planning with a second child

What is that supposed to mean?

Ok, thank you very much for that. This means that we will go into family planning and I will not continue the employment relationship. That means my contract will expire during my parental leave and I will have to find something new afterwards.

Now your personal assessment! Do you even consider it sensible to purchase a property with this purchase amount under these conditions?

In this respect: no.