Purchase from the developer at the end of the year - Financial assessment

Florastraße in GE? :D
yeah well, true. Something like that really exists for the price.

Thank you already for your answers!

The prices here are indeed still comparatively moderate. I don’t have a final price yet, but the same developer sold a fully basemented end-terrace house in the same city for €310,000 just a few months ago, and the same semi-detached house model in a more expensive neighboring city for €360,000. Of course, prices are continuing to rise, but we are quite optimistic that our calculations are relatively accurate. However, I am also calculating with around €350,000.

Florastraße in GE? :D

Much further west in the Ruhr area. But such measures occur again and again. Property value €50-70k. Add a pre-made volume model and the price fits.

Well, I am skeptical whether you will get it financed. No equity! Absolutely none except for a measly [Bausparvertrag].

Living rent-free with parents, 5,100 net monthly, 2 years out of training, 563 € loan costs for cars.

Where is the equity??? How do you want to stand on your own feet as property owners?? About 2,000 € goes out every month including additional costs.

You live a very high life.

Hi, since you are currently living rent-free, you can still save money until you move in. Maybe you could get a subsidy from the parents, they could then rent out the apartment [ETW] elsewhere and give you part of the rent. I would steer clear of an additional loan for the ancillary costs. Otherwise, I think it's tight but doable. Regards Olli

If I understand correctly, the employment with the mentioned income will only really start in May? That is why there hasn’t been much saving so far.

If you take out a loan for the additional costs, this must of course be declared in the construction financing. You will then practically have no equity anyway, as you also have corresponding debts. It would be better if you could “unofficially” borrow this amount within the family.

Otherwise, the jobs should be very secure and the (future) income is quite in line with the intended amount. Good luck!