Purchase of a terraced house - I need your advice

First of all, thank you for your honest opinion. Our total rent currently amounts to €634 + €120 for electricity (hot water runs on electricity). After deducting the rent and other fixed costs, about €1,200 remain per month. From that, we put some into the savings account and carry over almost €400 each month to the next.

We are actually very frugal and also go on vacation once a year.

The apartment we currently live in is too small and we need to move soon. The prices for a 4-room apartment in a good location cost about €900 cold rent. Including additional costs, I’m comfortably at €1,100. That's why we thought we’d rather pay off a loan.

The house price includes the outdoor area, carport, and so on. And it’s heated with district heating. For such a terraced middle house, you should be around €200 per month.

The bank has received all my data, including income, etc. The loan has already been approved.

My wife is currently on parental leave and will start working again within the next two years. So at least an additional €450 will be added.

Regards

... And if I enter Gremmendorf-Ost, there is even more :)
With commitment and some work, there are 120sqm with a basement for under 279000 ;)

Huh? For Münster, the prospects are still very good thanks to the university & administrative apparatus - the market here seems strongly overheated, but they continue to pay "easily"... even though Gremmendorf is not a top location, at least it’s great in terms of infrastructure.

A colleague bought a 75 m² condominium (new build) for renting out - in the city (Hammerstraße - I find the location awful because of the noise, but I hate MS anyway in general :D) for an incredible 380,000 euros.

The tenants are now paying nearly 1200 euros rent - cold...

Here is the link to the exposé:

Please do not be surprised that the prices there are higher. We definitely pay less, as stated above.

Regards

Please no links, they are not necessary

First of all, thank you for your honest opinion. Our total rent currently amounts to €634 + €120 electricity (hot water is electricity). After deducting rent and other fixed costs, about €1,200 remain per month. We put some of that into the savings account and almost always carry over €400 into the next month.

You can see that it can't work at the moment. The cold rent might be around €400, plus the savings rate of €400 makes a maximum of €800. If you assume constant additional costs, you would have to pay house repairs and installments from the €800.