Property in good condition financable?

You are confusing realism with pessimism, my dear. You are setting the wrong priorities, see your financed car. I also sold my E63s to generate even more equity before the financing request. Only it was not financed, so it had no consumer debts.

I understand, you have a big wish, but it is simply not the right time, and from what one reads from you about this [Exposé], there are still many inconsistencies.

You confuse realism with pessimism, my dear. You set the wrong priorities, see your financed car. I also sold my E63s to generate even more equity before the financing request. But it wasn’t financed, so I had no consumer debt.

I understand, you have a big wish, but it is simply not the right time and from what you say about this exposé, there are still many inconsistencies.

Thank you for your honest feedback. Actually, I am currently racking my brain because my plan didn’t originally include the purchase, but I wavered back and forth. That is true regarding the car. If I had known that beforehand, I wouldn’t have financed the car in the first place.

Sorry if I’m so direct, but: you can’t handle money (no savings, luxury car on credit), have €50,000 debt, no plan for buying a house, and let yourselves be lulled by realtor statements.

That won’t work...

I always find it better to speak directly than to beat around the bush. That obviously saves time and you can immediately work on solutions, so I thank you for your honest feedback. Regarding the car, I of course agree with you. However, it is not true that I have no savings, as I already mentioned at the beginning that all incurred costs, such as painting work, moving company, and repairs on the current apartment for handover, are covered.

That no equity is available should not be equated with ‘no savings’... I don’t find that approach right. What you say about the realtor might be true, but ultimately it was only a viewing without obligation. It is obvious that I will verify the information given by the realtor after obtaining a bank confirmation. Just because I initially respond to verbal statements does not mean I am being deceived by the realtor. I am merely repeating his statements. It would also be new to me if someone came directly with an appraiser on the first visit to inspect the building. First of all, the location and the obvious condition matter, and I can assess those.

Who on earth buys a kitchen loan? Anyone wanting to rent an apartment doesn’t have to do that.

Of course, it also increases the value of the house. The question is, what was done with 50,000€. It won’t be house construction on a 220 sqm small plot.
.

I have to smile:
It’s not as presented.
What is still described here as fact…

… is corrected here.
House costs 500,000€ instead of 450,000€
EE E instead of A
Mobility costs turn out to be a car loan
Liabilities of about 50,000€ (can you even get a loan for that?)
Mmmm… you’re not too precise with the truth?

Here you’re also fooling yourself a bit: There is no purchase price offer of 420,000€, there is one for 500,000€…

And now it also looks like, although in your eyes no children are planned at the moment…

… you have to assume that your wife will want children later – then the income situation looks a bit different.

Thank you for taking the time to respond, even if the feedback is quite direct.

In the garden, it was the fence, the garden house, the conservatory, and a large terrace that immediately caught my eye.
I will only request a detailed list of what has been done to the house over the past years once it becomes more concrete.
I was advised to make a non-binding offer (based on what the bank confirms and what I consider acceptable)… maybe “purchase price offer” was the wrong term.
Therefore, I am wondering whether 450,000 € or rather 420,000 € would be appropriate for the property.

Of course, my wife plans to have children later, but if you see that as an obstacle, you’d probably never buy a house.
After all, she is only 24 years old, so I expect it in at least 5 years, and by then my salary should have increased accordingly.
I don’t take this statement seriously. Of course, it is possible to buy a property despite a car financing.
Ultimately, it depends on your salary and whether the bank thinks it is sufficient after all fixed expenses.

Many people are not aware that a car financing in this case can even be an advantage.
Through my last two successfully completed car loans, I already have two positive entries in the credit bureau.
If you regularly pay off larger loans, it has a positive effect on the credit bureau. You can simply research this or discuss it with a banker.

I also don’t want to justify myself for everything. Sure, the decision for the car was not optimal, but I could sell it at any time, would have no more liabilities, and would save 475 € per month.
So please don’t get stuck on that.

Since I already mentioned at the beginning that all incurred costs, such as painting work, moving company, and the repair of the current apartment for the handover, are covered.

That no equity capital is available should not be equated with 'having saved nothing'.. I do not find this approach correct.

That is also not correct! You were asked once about the 0€ and once about the other costs (or something similar). To my knowledge, you did not answer these questions. You do not answer the questions directed at you.

Ok, I'll bite...

How do you imagine managing the €2,325 annuity/month (420k purchase price + 10% additional costs with 1.8% repayment and 4.2% interest) when you have a child and the second income disappears?

From personal experience: child benefit is not nearly enough to cover additional costs caused by the child, and parental allowance is only about 66% of the last income.

By the way, after 10 years, there are still about €360k in debts left from a house that is being bought today for €420k and will then be 10 years older...

That is not correct either! You were asked once about the 0€ and once about the additional costs (or similar). To my knowledge, you did not answer these questions. You do not answer the questions directed at you.

The amounts to €450,000 excluding incidental acquisition costs, which amount to approximately €50,000. We can cover other costs from private funds, leaving no equity for the financing. It will probably come down to a 110% financing. I also considered financing the €50,000 incidental costs separately and then using them as equity, as the interest rates might be lower then.

That is what is meant by the part ..other costs we can..
True, I now see that I overlooked a question and marked it as liked.

There will probably be no equity since we expect about €20,000 as a buffer in case other costs arise. Even if we were to apply with €20,000 as equity, it would make no difference, as this would not even cover half of the incidental costs. Therefore, we would prefer to keep the money available for other measures.