Budget plot and building with basement

Greetings

I recently asked a similar question here as well and was really well advised, or rather was told clearly what to consider and how to set up this calculation.

You should really base it on the period during which your wife/girlfriend receives only the parental allowance, because that will already be less than the stated 75% if she works a 3/4 position. Have the private health insurance costs already been deducted from the €2400 or are they still included, etc. Furthermore, I would not count monthly bonuses in the salary. If these suddenly disappear, you will miss that money again. Such things are simply a buffer that you either have or don’t.

Make a complete plan, with costs for food, clothing, mobile phone, insurance, daycare fees for 3 children, etc. etc., and then subtract the additional household expenses like electricity, water, telephone, etc. Then you really know what is going on.

It took me longer too, but afterwards you reach a point where you roughly know what you can afford and what not, provided you don’t want to pay off for 40 years.

Maybe you will find some useful information from page 11 onwards

Additional construction costs can be relatively low, for example 25,000, but they can also surprisingly cost 50,000. I do not see the buffer in your calculation that could cover this.
Moreover, you also pay a monthly rate for a 0% furniture financing.
For furniture and buffer, it’s better to have liquid funds under the mattress ;)

Therefore, I advise you to write down your costs, including those that will arise later (3! children), and calculate the possible rate.

Money under the mattress sounds good. Unfortunately (we are happy :-) ) our wedding is still coming up this year and most of the savings will probably go toward that. The size of the wedding was already planned when the possibility of buying the plot came up.

Regarding my girlfriend's situation: she still likes to work full time with €2600 - private health insurance. This will drop to about €2100 - private health insurance during pregnancy.
Therefore, we calculate with a permanent income of €1800 - €1900 for her.

@

Thank you very much for the tip! I have already started and it looks very informative!

What amount and term do you plan for the furniture financing?

I am always very skeptical about such 0% financings, because when paying in cash (i.e., covered by equity and increasing the home financing for it) you can often negotiate higher discounts. The 0% is not a gift, but priced into the furniture. In addition, such 0% financings are usually limited to a term of 8 years and then, despite 0%, have a higher rate compared to the home financing.

Money under the pillow sounds good. Unfortunately (we are happy :) ) our wedding is still coming up this year and most of the savings will probably go towards it. The size of the wedding was already planned when the opportunity to buy the property arose.

I am a friend of honest words: everything has its time - you have to set priorities! Because: you can't dance at two weddings at the same time! Building requires money!

I am a friend of honest words: everything has its time - you have to set priorities! Because: you can't dance at two weddings at the same time! Building requires money!

We can now start discussing whether this is right or wrong. The fact is that we will not disinvite our guests and have bought the land which must be built on by the end of 2016. 60,000 equity is available through the land. Upon moving in, there will certainly be 5000 to 6000 in cash available. But that is simply not enough for a fully equipped kitchen.

We also got married and built a house in 2014. The wedding paid for itself except for the bride and groom's outfits. Therefore, I do not consider a wedding to be a major financial risk, as long as one otherwise considers oneself to be on solid ground.

On the topic of the financing plan, I can only say that everyone has to know for themselves what they are willing to sacrifice or spend on individual things.