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

I’ll try to answer everything:
Nilona:
I have observed not only Magdeburg but also the surrounding area. Existing properties are sometimes available in a price range starting at €120,000, but then you might have to modernize, etc... For around €230,000, you can definitely get houses here where you can move in immediately.

ghost
That’s exactly how I observe it here too; it really fluctuates a lot. For a new build, you’d have to plan on €300,000, but we don’t want that anyway. Taking over and renovating an existing property would also make us happy.

tassimat
Maybe there will be a second one, but that’s not decided yet, maybe in 3 years. Childcare costs between €90 and €150 per month. I will go back to 35 hours, my boyfriend works 5 minutes from home but is a bit more flexible than I am. I’m also currently thinking about waiting and saving.

carzychris
There are surprisingly many auctions here, but in the end, could you completely miss out? Can you protect yourself through experts etc. at forced auctions? What I’ve read so far always sounded like “bought as seen from the outside.”

Topic tax class: we’re not married and don’t plan to be for now.
2 cars: I bought the small car for commuting (diesel, mini car but extremely economical), the big car was already there before and is used for shopping and trips (we also have 2 dogs).
But yes, 2 cars are a luxury in this case...

zaba12
I already wrote the prices above. So far, what “we like” has been between €120,000 and €220,000 for existing properties.

So with 230,000 for a house and 100% financing, you would probably end up with a rate of about 700 euros (calculated with 2% repayment and 1.69% interest). That would already be significantly more than your cold rent. The numbers are then similar to ours, based on the net income during parental leave (1500 plus 1100?). However, in our case, without a child. The bank calculates a certain amount per person. If that doesn't add up, I would definitely wait out the parental leave until there is a full second income again.

At auctions, there are appraisals commissioned by the court, usually also with pictures. Just call there and ask.
Get one with a reasonable year of construction, from the 70s onwards, look at it from the outside and peek through the windows (if possible).
As a rule, this is associated with subsequent renovation work. A full renovation is rarely considered.
Friends of ours bought at auction for 60k and renovated (partly renovated) for about 110k, including thermal insulation, new heating, new windows, etc. etc. When you are inside, you would think the house is newly built. Our area is quite expensive compared to yours. That was already a bargain.
In general, I can give the following advice: If you want a house, then finance only so that you can continue to live reasonably with your installment. That’s all that matters. If you can’t take a vacation for the next 10-15 years because you are paying off a house, you will not be happy!

Then the calculation is quite simple and the decision is up to you anyway.

Premise:
- Loan amount of €230k.
- The property cannot cost that much because real estate transfer tax/notary fees still apply
- No renovation costs included in the loan
- Equity is used for painting and possibly floors

Thus:

€230k - €17.5k real estate transfer tax and notary fees
= €212.5k house price

It is a 108% financing, presumably 2.8% interest with 2% repayment over 20 years
I assume 2.8% interest.

This results in a monthly installment of €920 with a remaining debt of €106k after 20 years

To the €920 installment, add €400 monthly additional costs.
In other words, you pay €1,320 monthly for living in the house.

So now you... is that okay for you?

So with 230,000 for a house and 100% financing, you would probably end up with about a 700 Euro installment (calculated with 2% repayment and 1.69% interest). That would already be significantly more than your cold rent. The numbers are then similar to ours, based on the net income during parental leave (1500 plus 1100?). However, for us without a child. The bank calculates a certain rate per person. If that doesn’t add up, I would definitely wait out the parental leave until there is a full second income again.

Sorry but how is 100% financing supposed to be achieved? And how do you come to 1.69%? That rate doesn’t even exist for 100% at 15 years!!

Change jobs increase income. With part-time, it won't work.