Monthly housing costs affordable?

Have you not done a financial check yet?
Installment 1200€, additional costs 400(500)€ (we just had that).
Income 3960€ - how does that break down?

Without a list of all known and probably unknown expenses, hardly anything can be said, except that it looks "tight."

Is the "house" with the 1200€ installment also fully financed and ready, or does it mean "landscaping/garage etc. we’ll do later?"

Yes, but since we have no experience with what kind of costs to expect with a house, it’s hard for us to estimate. At least the fence is included in the calculation, terrace and access path not yet, for example.
We don’t have any expensive hobbies yet, but we do have 3 children... don’t know what else is waiting for us.
Sure, you can also vacation cheaply, but if there’s nothing left afterward for that either, that would really be bad.

If costs are difficult to estimate, it helps to calculate them through. So, for example, x sqm paving substructure, x sqm paving at y €/sqm,... and keep refining that further. Don't forget delivery costs; for outdoor areas, the material is often so heavy that without a large truck nothing works. And rent equipment generously. It's best to include that directly in the total calculation as well; otherwise, you save for years on the paving. In contrast, with the plants, many things can also be gradually built up.

And for the monthly additional costs, you can also estimate well in advance. Insurance, property tax, etc. are usually known. For electricity, water, and possibly gas, there are guideline values; here, it's better to include a small buffer. And then don't forget the reserves in case something breaks down.

Yes, but since we have no experience with what costs come with a house, it is difficult for us to estimate.

House construction costs? You should know those if you already know the installment for the costs. Ongoing costs? One drink more than in the rental apartment – they are the same cost items.

If it stays at the 1200 rate and 4000 income, I see no problem. That's 30% going into the annuity. Some pay 40-50% rent. The only important thing is that you know what you get for the 1200 rate - and that is about 380,000 euros with 1.5% interest and 2.5% repayment.

Good morning,

how long is the fixed interest period and what needs to be financed afterwards. The concerns are justified and also normal.

One commits to a loan for a very long time and many also hardly repay. With rent, the landlord arranges everything and you only pay. With a house, you are the payer yourself.

If vacation etc. is important, then look for a side job if things get tight.

Yes, is it really so difficult to put all the income/expenses down on paper…? :rolleyes: