Building financing 400,000€ feasible?

  • Erstellt am 2013-08-12 23:41:03

b0012sm

2013-08-13 08:23:26
  • #1
well, if a grandchild is planned maybe the parents have something left over for the nest purchase
 

RS.

2013-08-13 08:56:37
  • #2


No, it's not quite like that, but currently the market is swept clean and we want to have the house finished before the baby arrives. We are also thinking about whether that might be financially too much of a good thing. I would also prefer a property for <300k€.
 

emer

2013-08-13 09:19:28
  • #3
Overnight ~500€ more saved monthly? I would sharpen the pencil again. When you have two numbers, always calculate with the smaller one when it comes to budget or round down.

First, get clear in principle about your current income and expenses.

A household budget book can help with that. Since I personally am not a fan of such things, I evaluated the bank statements of the last 18 months. That's not 100% accurate because I sometimes buy cigarettes at the gas station, but it is brutally honest. But that only works if you pay 99.99% by card.

If you are planning to have children: There are so many unknowns that expenses cannot be quantified. It starts with breastfeeding (being able to) or buying expensive milk and ends, at least in the first years, with childcare costs. In our case (childcare until 2 pm including lunch) that is about 350€, over 500€ per month until 4 pm.

And we were very lucky there. There were no day mothers left in our town, the local kindergarten offers care from 8 am to 1 pm. When and where should one work there? Fortunately, our daughter only attended there for 2 months until the acceptance from the kindergarten in the neighboring town came (but only because the parents-in-law live there and we will be building there next year). Otherwise, my wife could not even have taken a part-time job. We registered her in the kindergartens when she was less than a week old (so 2 years in advance). And even today my wife can only work that long (35h/week) because she works only 3 minutes by car from the kindergarten, grandma is 2 minutes away on foot and picks up and drops off our daughter twice a week, and although I need 60 minutes to get to the office, I only have a 34h/week schedule and can come and go very flexibly.

Oops, got off track, but what I want to get at is that you simply do not know many things beforehand, and things can really turn out badly differently. Especially if you are already planning to have children, it might indeed be better to postpone the purchase, at least in this travel region.
 

RS.

2013-08-13 09:29:25
  • #4


You're right, one should rather assume the worst case. Oftentimes, €2500 was possible before; yesterday's figure specifies the current minimum amount saved per month.

Of course, one must not neglect the costs for a child, which is why I am really grateful to you for the "drifting"!

I am moving further and further away from the idea of investing €400K... (at least as long as the equity is not >€100K)
 

f-pNo

2013-08-13 10:15:53
  • #5
Just one more question that hasn't come up yet

What are you currently paying for rent? That would then be eliminated or increase your available monthly surplus.

Otherwise, I can only confirm the point about the children - as well as the fact that after parental leave your wife will probably work less and thus have less income available. Don't underestimate this issue.
 

RS.

2013-08-13 10:51:57
  • #6


~650€ including heating.

Since we have no debts and both cars (<1 year old) are paid off, the costs for repairs, inspections, service (which is not an insignificant factor) are also eliminated... that will not change in the future either; currently, a few more euros could be saved as well. But you are absolutely right; with a child, quite a lot can/will change and I haven’t really thought much about the (financial) consequences so far...
 
Oben