Which financing (type/components) should we consider?

Hello everyone,

I am new here so I hope this question is in the right place.
My small family wants to move. That is my wife (28 years old), my son (2 years old) and me (30).

Our current two-room apartment is slowly but surely becoming too small for us. When looking for a suitable apartment (hopefully with more children in the future), I get dizzy when I see the rental prices. The topic of "buying a house" quickly came up. If not now, when, we think... Now there is only the small but fine problem that we have not saved any equity because I studied until a year ago and we liked to live well.

The properties we like cost around €360,000. A proud sum, in my opinion, but if then, then. As described, this is opposed by rent prices of about €1,400 that I would have to pay to a landlord.

I would like to have some opinions and advice on whether and how one can fulfill such a wish. In your opinion, does it make sense to wait a few more years and try to save some capital alongside the expensive rent? Of course, equity helps immensely, but I would be throwing away a lot of money on rent, which I could already be paying off.

We now have €3,700 net per month (most of it from me) with an increasing tendency.
What type of financing (kind/components) should we consider?

Thanks in advance for your answers.

I'll put it this way? In an area where you pay 1400 euros rent for an apartment, you won't find a house for 360000. Or it has a catch.

Aside from that, your salary is sufficient to buy a house worth 360000, but exactly what and how much, the bankers in this forum will tell you precisely.

How is the situation with you otherwise? Is there equity available, if yes, how much.

Is the woman working?

Please always keep in mind that you can certainly manage a payment amount equal to the rent, but you also have to pay attention to the amortization, otherwise you will experience an unpleasant surprise at the end of the fixed interest period or will be paying off the loan until you are 90. In general, I find the €1400 rental property hard to compare with the €360T house.

how is the situation with you otherwise? Equity available, if yes, how much.

Is the woman working?

Read the opening post?!

The 360k€ actually seem more like a wish. Already viewed houses? Quickly you end up at 20-30% more than expected. Basically, I also consider 3700€ tight for a reasonable repayment on 360k€. One should already repay in the range of 1400-1500€ so that one is done after 25-30 years. If you then also include incidental costs, you are quickly in the range of 2000€ monthly, which is quite high for a total of 3700€ net.