Assessment of financing scope with 4620 euros net

  • Erstellt am 2022-02-06 19:06:40

Tolentino

2022-02-08 10:57:02
  • #1
Everything is correct, but it concerns the tenant in retirement similarly (maintenance is included in the rent).
 

tomtom79

2022-02-08 10:59:38
  • #2
Or already accept now to sell the house upon retirement.
 

Tolentino

2022-02-08 11:00:42
  • #3
Or rather earlier, when the children have left the house.
 

Hutchinson123

2022-02-08 11:23:51
  • #4
Our financing mathematically runs until 2058 – I’ll be 71 then. That’s still a long way off and I don’t worry much about how things will look by then. Even if we had to move out here in 20 years and still had 200k of remaining debt, we should be able to manage quite well. Provided, of course, that the house doesn’t drastically lose value by then (commuter belt Hamburg).

By the way, I don’t do private retirement provision. Maybe later. It might sound reckless to some, but I can sleep well with it ;)

What was important to us was that it fits in the “here and now” and that we have enough buffer for all sorts of eventualities. Currently, we are relatively solidly positioned with 4500 EUR net (plus secure 4000 EUR net special payments p.a.) and about 1600 EUR housing costs (installment plus additional costs).

Will it still look like this in five years? Who knows...

Luckily, my girlfriend works in the public sector and earns a bit more than I do – that of course also provides security. Would we have gone for it if we both had a weird job like mine? I rather don’t think so.
 

borxx

2022-02-08 11:45:05
  • #5
Or when a stroke of fate turns your whole life upside down and a house becomes a burden in case of doubt.

However, the focus on the moment or rather the short-term horizon as well as the function "I need living space" are ways of thinking that are rather unusual in Germany, "a house is a life decision." Similarly, the example of a car. Leasing is devil's stuff, expensive blah blah and the car should preferably be paid off.

If it no longer fits your life, there is nothing against selling it again or passing it on to children and looking for something more suitable. I would rather have an easy-to-care-for apartment with a nice view at retirement than an unused floor where I curse every time I have to climb the stairs.

When I say that I probably won’t live in our new building in old age, people always look at me strangely, the worst being the generation one older. It fits the life situation with children and family; in old age it is too big and too much effort.

Regardless of all the philosophical approaches (as so often), it changes little about the situation of the combination of "too little income with too little equity, too low a savings rate with too high desires." Unfortunately, also all negatively influencing factors :( which make it seem difficult to impossible in the here and now.
 

Grundaus

2022-02-08 11:47:20
  • #6
Actually, the [Wohnimmobilienkreditrichtlinie] does not prescribe that the installments must be paid off by the end. That means if the loan is not paid off by retirement, the pension must be high enough to cover the installment. I believe the option to then sell is not permissible.

And not having a private retirement provision is grossly negligent. Owning a fully paid-off apartment is clearly insufficient.
 

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