Is the construction project affordable? 570 k€ loan with a 5300 € salary

You find the house too cheap?

Nope. I find it realistic for your location, as I had explained in detail ;)

Running!

The offer is not available on any portal.

A healthy financing is one that does not consume more than 1/3 of the monthly net income for housing. Always under the assumption that the repayment is chosen in such a way that it is completed by retirement. That is the rule that almost everyone here would probably agree with. You are within that rate, but I also count the monthly additional costs, and with that you are significantly above. Basically, the income will probably also increase, so that in the coming years it will approach the healthy 1/3 again. But you have to feel comfortable with the burden.

Here one reads many different statements. The maximum rate should be between 35 and 40%. Sometimes the monthly additional costs are included, sometimes not.
Do you see the limit at 35% including additional costs?
Then we would be significantly above that. :eek:

You did not write anything here about bonuses, holiday pay, profit sharing, and so on. Hopefully you did not just divide your annual net income by 12 months as income here, right? Or I overlooked it.

Holiday pay and Christmas bonus are fixed for me under the IG Metall collective agreement. For my wife, the Christmas bonus is also according to TVÖD.
Therefore, I have planned the amounts and recalculated them to 12 months.
The shift allowance in the IG Metall collective agreement and other bonuses are not included.
I have read that if these payments are fixed, one can count them as regular net income.
Should one not do that?

And yes, the unknown is the life, care and work model with a child, and that remains unknown until full work is done again and the relevant incurred costs are known.

What is known is the current salary (not even the parental allowance and its duration is known, as one can decide at short notice to extend it to 2 years or have another child), and a possible rate, plus the current expenses without a child. Nothing more...

If I assume parental allowance of €1300, then the buffer of €700 is already gone. And child benefit will hardly be enough to provide for the child. That means it only works if my wife goes back to full work immediately after parental leave.
Oh dear!!!
Some have written that we should start with a lower rate. What amount did you have in mind?

Therefore, I have planned the amounts and calculated them over 12 months.

I read that if these payments are fixed, you can count them as regular net income.
Shouldn't you do that?

I don't think banks include them.
But even if they do, these are mostly grants that should be used exactly for what the grant is intended. Strictly speaking, many count these grants toward special repayments but spend the money on January insurances and a few wishes.
I remember that banks calculate based on the last 3 monthly salaries. That's it.

There are enough large cities where many households have to spend up to 50% of their net income on housing – rent, mind you. That has to be possible as well. Here, at least the original poster is managing to acquire property on the side.
In early childhood, the biggest chunk of expenses for the child is really the childcare costs, that is after parental leave. And here I can only advise you to find out how things are in your hometown.
Example for us: maximum amount of €225 (for one child) plus €100 for food. In other districts you pay nothing, or until the age of three much more and then it gets cheaper... That’s something you can research.
And yes, the woman will have to go back to working at least 75% relatively quickly. Two years of parental leave without income in the second year are not feasible.
By the way, Christmas bonus is not taken into account when calculating parental allowance. You could achieve a higher amount by changing tax classes, since it is based on the woman’s net income, just do some research. But that would go too far already.

There are enough big cities where many households have to spend up to 50% of their net income on housing – renting, mind you. That has to be possible too. Here, the OP at least manages to build equity on the side. In early childhood, the biggest chunk of expenses for the child is really the childcare costs, that is, after parental leave. And here I can only advise to find out how it looks in your hometown. Example from us: maximum amount 225€ (for one child) plus 100€ for food. In other districts, you pay nothing, or much more until the child is three years old, and then it gets cheaper... You can definitely research that. And yes, the woman will have to work relatively quickly again, at least 75%. Two years of parental leave without income in the second year are not feasible. By the way, Christmas bonus is not taken into account when calculating parental allowance. You could achieve a higher amount by changing tax classes since it is based on the woman’s net income, just research it. But that would already be going too far.

I also think that the "worst" years, purely financially speaking :D, will be when the children arrive and the woman stays at home.

However: Why two years of parental leave WITHOUT income? Either 1 year at home and 1,800€ or 2 years at home and 900€? So money will definitely come into the household for 2 years, no matter what you decide. Of course, the 1,800€ is the maximum amount, which then reduces depending on the previous net income...

Many different figures are given on this. The maximum rate should be between 35 and 40%. Sometimes monthly additional costs are included, sometimes not. Do you see the limit at 35% including additional costs? Then we would be significantly over it. :eek:

Personally, I think the rule is total nonsense. Friends of ours have a net income of 6000 and pay a rate of 3500. They are doing great with the 2500 left. Surely enough other people have to get by with that too.

What I really see as a problem with you guys are the children. We will have that problem too. We chose the rate so that it should work with parental allowance and then part-time salary. Until the children arrive, we work on special repayments and after 15 years we will reconsider which rate we can then manage.