Assessment of financial framework

Bieber, thank you very much. That’s roughly how we arrived at the mentioned 350k-400k€. We should probably exclude the topic of [Kindergeld] here now, a relatively pointless discussion. In the final analysis, it probably won’t be decisive.

Of course, the child allowance is counted as income. Why not, it is a fixed and sustainable income. It is not calculated whether a child can be supported by it, but whether the household calculation of the respective bank adds up.

Above all, it is so unimportant given the TE's starting position.

It remains to be examined to what extent an employer loan is possible, whether the previously low equity capital is in a building savings contract, and if a small unsecured loan is possible, which would increase the equity capital – even if externally financed – whether the state funding from LaBo is an option, and whether personal contribution can be made.

I do think that financing can be represented at a certain level in terms of amount; if necessary, a subordinated loan – even if more expensive than the mortgage loan – can also be used to "catch up" on the missing equity capital.

All in all, the thought process or the project should be pursued further and a suitable and feasible financing concept developed, as well as the construction costs calculated precisely.

I give my thumbs up here.

Of course, child benefits are counted as income. Why not, it is a fixed and sustainable income after all. It is not calculated whether a child can be supported by it, but whether the household calculation of the respective bank adds up.

No, not always. In our case, it was excluded. But I don't remember the reason anymore. It was over a year ago. For us, only the bare income was considered. And that was at EVERY bank we inquired with. Our son was 1 at the time. So it is still to be expected for a long time.

For friends who almost built as well, another bank (I think it was the Commerzbank) also excluded it.

I would count it as well. Child benefits are more secure than any job, the notice is neatly filed in the folder. Non-seizability etc. actually further strengthens the reliability of this income source.

For example, I have experienced with Ing-Diba that child benefits are not taken into account, but Ing-Diba generally does not consider children in household calculations, so I guess that’s "fair".

As already mentioned, whether the bank counts it in or not I don’t think is that important. More important is that the money is there and available.

We visited the local construction company yesterday and will get a rough cost estimate in the next few days. At the same time, we are looking for plots of land, but this currently doesn’t seem to be that easy.

It may indeed not matter for you, but others are reading here as well, and the statement that child benefits are not counted as sustainable income is only true for Ing.DiBa, but as already described, children there also do not receive a household allowance.

Otherwise, I don’t know a single bank out of about 400 others that does not consider child benefits as sustainable income; even Commerzbank handles it such that it is counted. I also wouldn’t know why it shouldn’t be like that.