Budget plot and building with basement

Once the property is purchased and the wedding is planned, you’ve almost missed the point of no return anyway. So you have to see how you manage.

Exactly, that’s what I also wrote.

What I just don’t understand is, if the woman earns significantly more, why she then reduces her work. You could almost consider staying at home as the man or working three-quarters time.

But in my opinion, this discussion is pretty pointless because it’s something the two have to work out between themselves. Of course, from a salary perspective, it would certainly be worth considering, and I know families who have done it that way. But salary isn’t everything. I also earn significantly more than my husband. Nevertheless, from the start it was clear that I would stay at home during parental leave (because we wanted it that way) and it’s also clear that if two small children and full-time work don’t work out, I would reduce my hours and not my husband. That’s simply because he has “higher” professional goals than I do, even though he normally definitely won’t reach my salary in the next few years. As long as it all works out, everything is fine.

The thing about the full salary months is correct, however, I think that the part about the 14 months is not correct. Sure, you can have the parental allowance paid out as you wrote, but in my opinion, only the 12 months of the "standard parental allowance" are deducted when calculating the parental allowance for the second child. Because even if you have the parental allowance paid out over 24 months, months 13 - 24 are calculated at €0.
But this now only has a remote relation to the original question. I think and hope that the original poster, with 3 planned children, has also dealt with or is dealing with this.

Splitting the parental allowance over 24 months has nothing to do with this; that’s another matter. But I agree with you – this no longer has anything to do with the main topic, and I just wanted to leave the note because it might be helpful at some point. The original poster can then, when the time comes, study the subject matter themselves.

How exactly the parental leave and child care time will be arranged later is still completely open. We can also well imagine that we will split it. We have now initially planned for the rather worse case. Our parents live nearby and have time, they will also be able to support us later if we do not get a daycare spot.

Good day,

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-Land plot 530 m2 available and paid for (Being paid off with €100 monthly as a building savings contract)

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-Cost estimate at move-in €300,000 Planned are all costs for the house incl. incidental construction costs and outdoor facilities for about €15,000

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-Interior kitchen/living room is to be financed at the furniture store (possibly 0% financing) and should not be included in the house loan

I hope everything that is needed has been listed! A local architect who makes a very down-to-earth and committed impression assumes that we can manage our construction project with a total of €270,000.

What do you think?

Hello Scratchti,

how long does the building savings loan for the land purchase, which you are paying off with €100 per month, still run and what is the remaining debt? As equity, your house-financing bank might possibly only count the land value less the remaining debt.

I roughly calculate your household budget after building the house and with the children:

€1,850 You
€1,900 Wife
€558 Child benefit
---------
€4,308

€1,125 House installment (270k at 5% annuity)
€300 Incidental costs
€300 Furniture installment
€100 Building savings loan
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€2,483 Remaining for living expenses etc.

That seems manageable at first glance. Possibly the building savings loan will also be fully paid off by then. But you also write:

...

€60,000 equity is available through the land. There will probably also be €5,000 to €6,000 in cash available at move-in. But that is not enough for a fully equipped kitchen.

So you apparently have no further equity available besides the land and the €5-6k. In construction there are so many money eaters as well as unexpected costs (e.g. foundation additional costs), possibly commitment interest, double burdens through rent during the construction phase, special equipment during selection etc. And how do you offset the income reduction during parental leave?

If your architect has not calculated perfectly, you have not already selected all finishes, and your soil does not have additional foundation costs, the project might work. Otherwise, I fear a follow-up financing given your equity buffer.