Living in and renting out DH: Please share opinions/experiences

With 5k net, I don't see any financing over 1 million. That is not stupid, rather naive.

So for 400,000 you can't build much house in the Munich metropolitan area anymore.

Or rather:
House 400k
Additional building costs: 30-50k (basement?)
Carport/garage: 10k-30k
Exterior facilities: 20k-50k
Kitchen/furniture: 20k
=> at least 480k

Then in a linked transaction there would be another 50k purchase incidental costs.
So a total of at least 1 million for your project.

The way you described it, I would never do it.
Friends of ours recently bought a terraced house for the said million and the decisive difference to you is that the woman also contributes over 2000 net.
Their installment is then also 4000€...
By the way, we have 1800€ installment with about 5000€ net income as well. However only 470k loan and the savings bank named us a maximum limit of 500k-550k back then.

The semi-detached house option works even less. At 1000€ cold you will never get the land and house included.

You need a much smaller and thus affordable plot.
Or: Divide the 900sqm plot and build a semi-detached HOUSE HALF.

Or: divide the 900sqm plot and build a semi-detached house.

With the rental income, I could nearly reach our actual goal of a new house in a reasonable location. The market currently does not offer me that.

Exactly. Divide the plot and sell the remaining half, then the remaining loan is nicely small and you have your house in a reasonable location :)

Hello,

Thank you very much for your answers. The naivety probably fits quite well. As I said, I am still at the very beginning and have a lot of reading material ahead of me. A forum like this helps me to be nudged in the right direction early on. I will take a look at the topic of short selling over the weekend.

Exactly. Divide the property and sell the remaining half, then the remaining loan is nice and small and you have your house in a good location :)

My wife and I had already considered Plan B. And we also saw it as a stress-free option. But I wanted to hear the forum’s opinions about purchasing the duplex.

So for 400,000 you don’t get much house built in the greater Munich area.

Or rather:
House 400k
Additional building costs: 30-50k (basement?)
Carport/Garage: 10k-30k
Outdoor facilities: 20k-50k
Kitchen/furniture: 20k
=> at least 480

I am really looking forward to the first concrete offer. On the phone, the lady from Okal Haus said 330k € for a single-family house, turnkey stage. I somehow knew that was a bait offer, but plus 150k € ... I’m tense as a bowstring.

Thanks and regards

... that the wife also contributes over 2000 net. Her installment is then also 4000€... By the way, we also have an 1800€ installment with just over 5000€ net. However, only a 470k loan and the Sparkasse told us at the time that the maximum limit was 500k-550k.

As I said, we intentionally want to leave my wife's income out of the financing. There is still life outside the own house. It is clear that this limits us in terms of possibilities, but I rather see myself riding down the Panamericana on a moped with the boys in 18 years. The 550T€ was also mentioned by my bank.

My wife and I had already put Plan B aside. And we also considered it a stress-free option for us. But I wanted to hear the forum opinions about acquiring the DH.

That is not Plan B, but must be Plan A for you.

We have gotten used to a modern standard

Then calculate €2,500–3,000 per sqm of living space to maintain your standard. So a 140 sqm house (sufficient for 4 people) costs €350–420k. Plus additional costs €50k + garage/outdoor facilities + kitchen.

The rent index in the region is €8.80/m²

That doesn’t match the land value. There is neither profit nor a sensible investment left to co-finance your own house as a bonus.
The rent for a 120 sqm house should be at least €1,500 cold rent.