Maximum loan amount based on our monthly burden

For orientation: We have a similar monthly income - which currently amounts to €5,320. The plan is to borrow €415k in January 2018 for the house and the rest, and to include the currently being paid off plot of land as equity in the house financing. The equity = buffer (€10k) until payout and the plot of land together amount to €105k.

What I want to clarify with the numbers is what was already mentioned above - you could even borrow more than we do with your equity. It just depends on your "willingness to endure" in the next 15-20 years.

To be honest, my wife and I only dare to take on this amount because in the last 6 months (and the next 6 months as well) despite 2 children and ongoing costs (e.g. €900 warm rent) we have a savings rate of €3,000, i.e. we live very frugally.

Thus, we know what is possible (also for the future and the later special repayments) and what is not and what we are saving for.

I see it differently. My guideline would be that with an age between thirty and forty and a child, the loan should be paid off after 25 years. The installments should be such that one can live and not get gray hairs when the child wants to study. What is then possible must be enough for a house. Less is more then. Karsten

I share the same opinion as Karsten. There must still be enough money left for living expenses. Especially when there are children, there are always unforeseen expenses and high ongoing costs. Do you really want to deny the child piano lessons (or riding lessons, or swimming, or...) just because you absolutely want to pay off the big house?
How one can maintain a savings rate of 3000€ over a longer period with that income is a mystery to me. We also have two children. They needed new everyday clothes towards summer (logically). Just for shoes, 400€ was quickly gone. Then jackets, pants, t-shirts, sportswear... all certainly 1.5k€.
Music lessons and sports clubs cost 300€ monthly just for the children, and another 120€ for the adults. Invitations to children's birthday parties of their friends also cost money, averaging about 60-80€ per month. New children's bicycles, this year 2, also cost a good 1000€. So one thing leads to another. Or the shopping for the weekend barbecue. Quickly, just at the trusted butcher, 50€ is gone.
Of course, all this can be done much cheaper. But do you want to if the money is actually there? Do you really want to give up a comfortable standard of living to finance the big house?
I am always amazed at how many in this forum live in this way. The most bizarre saving suggestions are made (no more vacations, giving up the cafeteria, ...) so that the house becomes affordable. That really can’t be it.
Better a smaller house and still live decently.

The curious thing is actually that I’m talking about the course of 415k€ (only house financing + rest) for a single-family house with 132m2 + basement.

Basically, I’m a fan of comforts (on the terrace next to the gas grill there is a Beefer) and your mentioned amounts for extras are certainly well known.

Regarding the new bike: Even though it’s a bit off-topic, my 5-year-old surprised me a lot three weeks ago. I brought him a used, older bike with a rusty handlebar for 35€. Exact words: "Dad, it doesn’t matter that the handlebar is rusty, the bike has great mountain bike tires and a 3-speed gear."

This showed me that children don’t think in a consumer-oriented way and enjoy honest little things. It may be different at 10 or 12 years old, but until then there is still some time and the frugal times are over.

I am older. Two children. One of them studying. The need was 800 per month over six years. And he also earned something himself. Do you know what a student apartment in hotspots like Munich or Hamburg costs? And in Niederolmbach it is cheaper, but unfortunately there is no university there right now. Karsten

I believe you without question. I’m just saying tuition fees . Fortunately, I still have at least 15 years for these expenses.

Back to the topic: In my opinion, the OP shouldn’t ask what maximum loan they can get according to our opinion, but what their future home will cost. Because the loan amount will be based on that.

For example, about a year ago I started with the idea that all-inclusive with land should be enough at €400k. Now the planning has added up to a total of €520k.