Realistic or daydream? (Buying property without equity)

So, a little update from my side. This week I had about 1000 conversations, my head is spinning.
As it looks, we are saying goodbye to the idea of financing the additional purchase costs. There are enough banks/institutions that would cover it, but the monthly burden is too high for us and therefore too much risk. This means for us first saving for 2-3 years. Without a broker, even rather 1-2 years.

I have already forgotten some providers again, there were too many. PDS, Münchener Hypothekenbank, Postbank, regional banks and so on...

To name a few numbers and facts. We remember it was a purchase price of €345,000 and additional purchase costs of €48,000. Most providers split it as follows: €295,000 mortgage loan (2% effective 10 years, best provider) + €48,000 subordinated loan (most do this with Hanseatic, 6.6% effective but paid off within 10 years to zero) + €50,000 KfW 1.4% effective.

Then you would have a monthly burden of about €1750.

Calculated over 15 years, the mortgage loan rises to about 2.6% and therefore, of course, the monthly burden increases.

Postbank created a very wild construct with €345,000 loan over 10 years at 2.44% and the additional purchase costs in a private loan with 6,x%. Whereas the additional purchase costs would not even be zero after 10 years. But I don't want that.

Requirement for all was mortgage loan repayment at least 2%.

I also had a calculation made, what would happen if we had the additional purchase costs and simply only financed the purchase price. That looked really good and is also our idea. With a 10-year fixed interest, we would come out at 1.7% effective, with 15 years at 2.1%. The monthly rate would then also be what we imagine.

Again to the critics, because the terms are 30 years or even more. Honestly, I don’t care about that for now. Maybe a personal mistake, but if I think like some do here, then ideally I should never buy a house. The risk is always there, what if divorce, unemployment, incapacity, etc. etc. I can’t exclude that even with €100,000 equity.

Edit: I take away a lot of experience, finally have concrete numbers and the certainty that no matter what, there are enough who would finance us. The monthly burden would be bearable, but as said, too much risk, calculated too tightly at the end. Now we could save here and there and cut back, etc. But we both believe, we don’t want to lose quality of life just so we have our own home. Of course, everyone sees it differently. To put it bluntly, it’s more important to us to go out for a nice meal or take great trips with the kids than to necessarily own a home and give up those things.

Very good decision! Of course, the additional costs are somehow financed. However, at a certain price. When I see that they come around with installment loans at 6.6%, it is a good deal. For the bank ...

Hello and greetings to everyone. A little has changed and now I wanted to ask the experts for advice once again. My wife is increasing her position in the summer and will then be working full-time. It happened a few days ago. Of course, we still keep an eye here and there to see if there is anything "interesting" on the housing market. But where we live, it’s like swept clean. Now we have come up with another idea, and I would like to learn a bit about it.

A new development area is being built in a neighboring town, completion mid-2019. We called and asked what the cost would be. You can get plots there for €330.00 per sqm fully developed.

Now the consideration is whether to buy a plot and maybe build/build yourself after all. This could perhaps save some money, not least because the real estate transfer tax only applies to the land price. Since construction basically won't start for another 2 years, we could save the incidental purchase costs until then and even a small part of equity. It might still end up being a 90-95% financing in the end, but better than 120% financing.

We have looked at prefabricated houses and "finished" solid houses. I find it very difficult to make an exact calculation here, maybe someone can tell me more precisely. Because we (I) are really bad at craftsmanship and don’t really have much desire for it either, we imagine it like this: A solid or prefabricated house with 160-180 sqm of living space without a basement. Ideally, completely turnkey. By that I mean that I could simply move in. So the floor is laid, walls are up, WC and shower installed, etc. Really just pack boxes and move into the living room. Sure, maybe I'm dreaming, but I’m not fooling myself by telling myself I could somehow tile a bathroom or something, and in the end it looks awful and is professionally done completely wrong. I understand that every extra (similar to buying a car) naturally costs extra. Unfortunately, I can’t find any really conclusive information on the Internet. What would you roughly have to calculate for such a house, fixed and finished? Assuming you always take the average, in terms of equipment/flooring etc.

Is it realistic to come to a sum of €350,000 for 300 sqm of land + house? Of course excluding incidental purchase costs. Or do you think that is unrealistic?

How is a man supposed to put a 180sqm house on a 300sqm plot? 350 just for the house is realistic.

Build upwards? It shouldn't be on one level. 160sqm should be sufficient if it's well divided.

If you want at least a small garden/terrace, a house with about 100 sqm of floor area fits there, which corresponds to about 80 sqm of living space, would be 2 full floors for 160. If one is allowed to build that there (?)