"What house I can afford?" Based on the net income, the table gives a rough indication of the amount up to which a property can be reasonably financed. As can be seen in the table, the real estate price is 100 times the monthly net income.
What house I can afford? The monthly net income multiplied by 110 gives the highest possible home loan. The net income does not only consist of the net wage. Rental income, child benefit, survivor's pensions or capital gains are also included.
"How much house can I afford?" Five tips to protect your budget
- Get offers: Answer the question, "How much house can I afford?" realistically and honestly. Take a buffer into account when planning, because firstly it will turn out differently and secondly than you think.
- Use as much of your own resources as possible: The lower the mortgage on the property, the better your interest rate will be. This effect allows you to lower your monthly rate for two reasons: Not only is the loan smaller, the offer is also better!
- Apply for Baukindergeld: The Baukindergeld amounts to 1,200 euros per year for 10 years, i.e. 12,000 euros per child in total. You can apply for a household income up to a maximum of 90,000 euros for one child plus 15,000 euros for each additional child. The application is processed through KfW.
- Use buffs : The Credit institution for reconstruction (KfW) offer numerous grant programs. Mainly the conversion to low-barrier and energy-efficient apartments is promoted.
- reduce property transfer tax: When buying a property, land and property are often purchased as a package. The real estate transfer tax is then levied on the entire purchase price. Depending on the federal state, this is between 3.5 and 6.5 percent. In the case of new-build properties, the real estate transfer tax is only levied on the property price if the property is purchased alone. You then simply take care of placing the order with a construction company yourself. But you can also save quite a few euros when buying an apartment. "Unrelated fixtures and fittings" are exempt from property tax. This applies, for example, to kitchens, awnings, saunas or other inventory remaining in the apartment.