Semi-detached house (130 sqm) in South Bavaria financing

I just reviewed your expenses again. There are quite a few things missing and much of it will no longer be enough as the children get older. Clothing 100 euros for 4 people? That won’t be sufficient anymore. Studies, schools, etc. will also cost real money. Insurances are missing as well.

700 euros for food and hygiene is extremely little.

Thank you very much for your valuable input, Bookstar! At the moment we need about 500 euros for food and hygiene. You are certainly right that it will increase as the children get older. The potential studies of the children have also been on my mind. On the other hand, the time during which my wife works part-time is also coming to an end (about 5 years left).

The monthly reserves would be too tight for me with this loan amount. It only takes one larger bill for unplanned expenses to come in, and then adjustments have to be made. I would never factor bonus payments as special repayments with such a tight budget. You will need them for living expenses.

If your salary is not regularly increased, then inflation or generally rising living costs will eventually swallow your small savings rate.

Hi Strahlenmann! Yes, no matter how you look at it, it is a tight budget. One positive point is that the salary in this company increases annually (approximately inflation, sometimes a bit more).

Is the quality of life really that much higher / better for you there that it is really worth the money? You say you are rooted, I understand that very well. How are the others doing? Your friends and families? Have they paid for their houses out of petty cash, because of inheritance / rich kid / super job? Have you perhaps ever thought about moving somewhere else together? With family and / or friends who are in the same situation? If it weren’t so difficult with C, I would say: invite for a barbecue evening sometime and throw the idea into the room after a few glasses of wine. Let’s see what comes of it ;-) I already struggle with our loan on our salary and really have to give myself a push, but with your sums I couldn’t sleep peacefully anymore.

How are the others doing? Your friends and families? Did they pay for their houses out of petty cash, because of inheritance / rich kid / great job?

Hey Ypsi, good question. I’ll estimate it’s a mix of mega salary (a few), inherited land (even fewer), and bought a few years ago (most), timing makes a big difference. No one is moving anymore. The same applies to us: 2-3 years ago the market wasn’t quite as bad as now, back then we could have found something for 900,000 euros. However, we couldn’t have moved before because we had to wait for my wife’s transfer. Quality of life: Actually, for me the biggest point is to feel safe and comfortable in my work in a good environment and ideally be able to bike there (that saves one car entirely and the second one uses only a little fuel). You can also have to drive an hour or an hour and a half to friends and relatives and still see each other. Nature and mountains are also big pluses. Is it worth the money? Also a good question, I only know that I don’t want to stay in Munich and that giving up a job in which you feel very comfortable (or commuting from very far) must be well considered.

It's really crazy how much you have to slave away and what a complete disaster this is for a normal family. I know people (both teachers with 7.5k household equity) who bought 1200sqm of land including a renovated house near Hof (1 hour from NBG) for 180k. They pay it off chill in 5 years and live like a king.

But these prices don’t even apply here anymore. But still, it’s still cheap in our Hofer area.

One thing is definitely clear: as long as people are willing to live just for the house (at all costs), prices will remain that high.