Europe is massive with so many amazing destinations to visit. Depending on how much time you have, plan to hit the spots you want to see the most. Having a basic outline of where you want to go, how much time you plan to spend there, how you will get there and an idea of where you would like to stay is important.
However, one of the best benefits of backpacking is meeting other people and creating new travel plans together.
If you are traveling solo (which I highly recommend), you are guaranteed to meet other people traveling and you may want to join up with them for a while. If you have too many tickets/accommodations booked, it could prevent you from traveling with your new friends. I recommend making your confirmed bookings right before you travel to the next city.
Depending on the time of year, last-minute booking is pretty easy and common in Europe. Just be sure there aren’t any major events or festivals happening that may bring your plans to a halt.