Would buying/building a house ever be affordable for us?

Hello everyone,
before I fill out the nice pinned list:
We don’t have a property in sight yet but are dealing (or rather I am dealing) with the question of whether we can ever afford a house...
It remains a little dream, but we have no intention of burdening ourselves with something that might just be naively optimistic and end up causing nothing but trouble.
Most likely, we would prefer an older, rustic little house (100-130m²) with a bit more land (1000m²). That’s the wishful thinking.

Regarding our general life situation: We are in our late twenties, expecting our first child, and are both permanently employed, though with relatively low income. I will take one year of parental leave after the birth.
We are happy to keep saving for our dream and don’t want to rush anything.
We once went to the bank for a non-binding consultation, where we were told that a loan between €180,000 and €240,000 was feasible (without equity).
In addition, we are both skilled in handiwork and can do painting, laying floors, and such ourselves, possibly with help from family/friends.
The rent is currently low; we are considering moving, which would raise it to €800 warm. But we would also stay here to save money.

Here is the list:

General about you:

[*]How old are you? 27/28/29

[*]Are there children? soon 1

[*]Are children planned? possibly a second in a few years

[*]What do you do for work? he is a forester/tree inspector, she is an MTRA in a hospital

[*]Are you employed? yes, both permanently

[*]How many hours do you work? he 40, she 35 + shifts

Income and asset situation:
(without bonuses, I have given a minimum as it fluctuates every month due to shifts, allowances etc.)

[*]What income do you have (gross/net)? he net at least €1500, she net at least €1800, so together €3300+ X... in parental leave he min. €1500, she €1100

[*]How much child benefit is there? from April €196

[*]How much equity do you have? currently only €10,000

Expense situation: all rounded up!
Housing costs:

[*]current cold rent €350

[*]current warm rent €500 (incl. gas, garbage etc.)

[*]electricity €70

[*]phone, internet, mobile together €70
[*]GEZ €17.50

Mobility costs:

[*]tax €25/month for both cars

[*]fuel: currently almost none, he rides his bike to work, she uses public transport due to pregnancy, €25 for shopping/trips, total €55 when she works again

[*]repairs €100 (flat rate, tires, brakes etc., we do a lot ourselves)

[*]Is there a second car: yes, both included. Insurance see below

Insurance costs:

[*]liability insurance

[*]household insurance
[*]legal protection insurance
[*]car: all insurances together €125 monthly

Living expenses:

[*]food + pets + miscellaneous €400 + 100 + 500

Savings:

[*]about €1000 monthly

Other expenses:

[*]Other? BAföG: not considered, fully saved up and not included above in equity
[*]building savings contracts: 2 (10,000€ and 15,000€) only available in 8 years, made quite recently, current payments €75/€50

Income and expense totals:

[*]total income ~€3500 normally, ~€2800 in parental leave

[*]total expenses ~€2000

[*]balance €1500, in parental leave €800 (currently saving €1000, in parental leave €500)

[*]therefore, calculable with cold rent plus saving portion for repayments without restrictions in other expenses: at least €1350 normally / €850 in parental leave

I hope this is somewhat understandable? If you have any questions, bring them on.
I look forward to every answer, gladly direct and candid.

Hi,

there is not much room for maneuver with the salaries. But you do want quite modest/realistic 100-130m².
The crucial question is what such a property + large plot costs where you are and whether something like that is even available.

The first parental leave is already approaching. I would definitely wait for that and save during that time. You need the time anyway to look for a property.
But then you will slowly know whether it is realistic for you to go back to work after 1 year of parental leave.

Hi,

there isn’t much leeway with the wages. But you’re aiming for quite modest/realistic 100-130m² anyway.
The crucial question is what such a property + large plot costs in your area and whether something like that is even available.

The first parental leave is coming up soon. I would definitely wait for that and save during that time. You need the time anyway to look for a property.
But then you will slowly know whether it’s realistic for you to go back to work after 1 year of parental leave.

Thanks already, as I said I gave the wages at the lower limit, usually it’s more. And yes, I will definitely go back to work, that is out of the question for me. In addition, I have a tiered salary model, in which I automatically increase with the years. I will already get the next level after parental leave.

We would also be quite willing to move a little outside. And the 1000m² is wishful thinking as I said, we would also be satisfied with less.

I would advise you to keep an eye on the real estate market in your area and from now on set aside as savings what you would have to pay as loan installments (preferably set it higher than the minimum). Then you will notice whether that actually works without restrictions you do not want and whether it would also be feasible during another parental leave.

I would advise you to keep an eye on the real estate market in your area and from now on set aside as much as you would have to pay in loan installments as savings (preferably higher than the minimum). Then you will notice whether that actually works without restrictions you do not want and whether it would also be possible during another parental leave

Thank you for your answer. I have been keeping an eye on the real estate market for a while, simply out of desire. I haven’t been working for long yet, so until now it has been more of an interest and less of a serious consideration. The 1000€ are reliably paid without restrictions.

Thank you for your answer. I have been keeping an eye on the real estate market for a while now, simply out of desire. I haven't been working for long, so until now it has been more of an interest and less of a serious consideration. The 1000€ are paid reliably without restrictions.

Are the 1000€ also enough to repay a loan that would be sufficient for an appropriate house in a reasonable amount of time? That is the more exciting question. You can also take a look at houses already. Then you will see what you really like/what is important/unimportant to you, etc., and can accordingly better estimate how much you would want to change in the houses offered. Buying a house immediately seems quite risky to me for you. Can you get houses with your wishes within the price range the bank mentioned? (Don’t forget additional costs)