Hello, what percentage of your household income do you use as repayment to the bank? And what do you plan for ancillary costs and reserves? ( Neubau ) ( Standard Einfamilienhaus ) Best regards and thank you
As a guideline for a reasonable interest rate, minimum 30%. For new construction, in my opinion, you can do without reserves. After 10 years, you can consider it. Or you can already set aside half of what you would definitely set aside after 10 years from the start.
Ancillary construction costs depending on whether with or without a basement and house size 30,000 - 45,000€
In my opinion, that would be a big mistake. What if, for example, the car unexpectedly breaks down? Please never do anything without building up reserves. This also applies, for example, to buying an apartment.
Unfortunately, I can only tell you how it will be for me.
32% the pure rate to the bank.
9% additional costs (350€).
22% left for reserves.
37% to live on.
Tight and hopefully understandable : )
best regards
26% monthly repayment & interest
8% monthly incidental costs (flat rate set at 450€)
Also interesting for your question would be how high the average repayment is, because this should naturally be comparable for your assessment.
The repayment is 2.16%
The rest is for living expenses, reserves, and special repayments.
Where reserves are neglected for the first 10 years, since we both have relatively new vehicles and unexpected expenses up to 2000€ per month don’t break our necks, but clearly reduce the special repayments.