Leoo2014
2015-07-22 00:00:31
- #1
Hello,
we would like to buy a terraced house. The financing term is estimated to be about 30 years. The monthly payment for the financing is about €860 per month. I have the OK from the bank.
Today I sat down with my partner and we made an Excel sheet with all our expenses and income, as well as adding all insurances + additional costs. We both still live with our parents. The fixed expenses are the ones we currently have. The additional house costs and insurances (from point 3) are estimated now and briefly compared on Check24. The annual costs have been converted into monthly amounts. The income is calculated at minimum because we have hourly wages and our salaries vary. The 100% MINIMUM income is included here. Additionally, there are shift allowances/subsidies etc. Also, 3x a year bonuses of over (additionally) €2000 net. As mentioned, all calculated at minimum!
This is for a 2-person household - no children - approx. 100m² living space with garden.
The following resulted:
Income Man
€1,700.00 Minimum wage without bonuses/allowances/bonuses
Average is €1,900
Income Woman
€1,300.00 Minimum wage without bonuses/allowances/bonuses
Average is €1,400-1,500
Total income €3,000.00 NET
POINT 1 Fixed expenses that we already have Man
Monthly
Legal expenses insurance €24.31 BOTH INSURED
Supplementary dental insurance €20.80
Car insurance comprehensive €75.32
Occupational disability insurance €20.00
Mobile phone contract €60.00 Reduce on contract renewal
R+V Riester pension €25.00 Possibly cancel
R+V pension insurance €30.00
Standing order friend
€35.00
Club €2.50 // €30 per year
Car tax €8.00 // €96 per year
Auto club membership €5.30 // €64 per year – BOTH INSURED
TOTAL €306.23
POINT 2 Fixed expenses that we already have Woman
Monthly
Car insurance comprehensive €71.76
Occupational disability insurance €20.50
Supplementary dental insurance €20.80
Mobile phone contract €35.00
Estimated car tax €8.00 // €96 per year
Club
€2.50 // €30 per year
TOTAL €158.56
POINT 3 Fixed additional house costs and insurance Monthly - taken over by seller and Check24 comparison etc.
House loan €860.00
Electricity €75.00
Water €22.00 // €65 per quarter // €260 per year
Garbage fees €20.00 // €200 per year
Heating gas? €80.00 // €960 per year
Building insurance €20.00 // €250 per year
Risk insurance €26.00 BOTH INSURED
Personal liability €3.50 // €42 per year
Property tax yearly €8.33 e.g. €100 per year, still unknown
TOTAL €1,114.83
[B]Other expenses
Fuel* €360.00 3x fueling per person per month
Internet €35.00 e.g. O2 VDSL
License fee (GEZ) €18.00
Weekly groceries €200.00 €50 per week
Savings rate €200.00 Into daily money account (security, repair)
TOTAL €813.00
Total income €3,000.00
Total expenses €2,392.62
Leftover approx. €607.38
*For fueling, we calculated that we both together refuel about 4 times a month. I calculated here with 6 times a month.
1.) With the €200 savings rate, about €600 remain for living according to the calculation.
2.) Are the additional costs + insurances in point 3 well estimated? Or exaggerated? Or too little? Or is something missing?
3.) Can anything be omitted, which is really not needed?
What do you think, can I take this step with my partner with the house purchase? Or is it too risky?
We have about €10,000 as a buffer in a daily money account.
As said, I converted things that occur e.g. once a year into monthly amounts so that they are already set aside when the annual burden comes.
Thanks for your suggestions and advice in advance.
we would like to buy a terraced house. The financing term is estimated to be about 30 years. The monthly payment for the financing is about €860 per month. I have the OK from the bank.
Today I sat down with my partner and we made an Excel sheet with all our expenses and income, as well as adding all insurances + additional costs. We both still live with our parents. The fixed expenses are the ones we currently have. The additional house costs and insurances (from point 3) are estimated now and briefly compared on Check24. The annual costs have been converted into monthly amounts. The income is calculated at minimum because we have hourly wages and our salaries vary. The 100% MINIMUM income is included here. Additionally, there are shift allowances/subsidies etc. Also, 3x a year bonuses of over (additionally) €2000 net. As mentioned, all calculated at minimum!
This is for a 2-person household - no children - approx. 100m² living space with garden.
The following resulted:
Income Man
€1,700.00 Minimum wage without bonuses/allowances/bonuses
Average is €1,900
Income Woman
€1,300.00 Minimum wage without bonuses/allowances/bonuses
Average is €1,400-1,500
Total income €3,000.00 NET
POINT 1 Fixed expenses that we already have Man
Monthly
Legal expenses insurance €24.31 BOTH INSURED
Supplementary dental insurance €20.80
Car insurance comprehensive €75.32
Occupational disability insurance €20.00
Mobile phone contract €60.00 Reduce on contract renewal
R+V Riester pension €25.00 Possibly cancel
R+V pension insurance €30.00
Standing order friend
€35.00
Club €2.50 // €30 per year
Car tax €8.00 // €96 per year
Auto club membership €5.30 // €64 per year – BOTH INSURED
TOTAL €306.23
POINT 2 Fixed expenses that we already have Woman
Monthly
Car insurance comprehensive €71.76
Occupational disability insurance €20.50
Supplementary dental insurance €20.80
Mobile phone contract €35.00
Estimated car tax €8.00 // €96 per year
Club
€2.50 // €30 per year
TOTAL €158.56
POINT 3 Fixed additional house costs and insurance Monthly - taken over by seller and Check24 comparison etc.
House loan €860.00
Electricity €75.00
Water €22.00 // €65 per quarter // €260 per year
Garbage fees €20.00 // €200 per year
Heating gas? €80.00 // €960 per year
Building insurance €20.00 // €250 per year
Risk insurance €26.00 BOTH INSURED
Personal liability €3.50 // €42 per year
Property tax yearly €8.33 e.g. €100 per year, still unknown
TOTAL €1,114.83
[B]Other expenses
Fuel* €360.00 3x fueling per person per month
Internet €35.00 e.g. O2 VDSL
License fee (GEZ) €18.00
Weekly groceries €200.00 €50 per week
Savings rate €200.00 Into daily money account (security, repair)
TOTAL €813.00
Total income €3,000.00
Total expenses €2,392.62
Leftover approx. €607.38
*For fueling, we calculated that we both together refuel about 4 times a month. I calculated here with 6 times a month.
1.) With the €200 savings rate, about €600 remain for living according to the calculation.
2.) Are the additional costs + insurances in point 3 well estimated? Or exaggerated? Or too little? Or is something missing?
3.) Can anything be omitted, which is really not needed?
What do you think, can I take this step with my partner with the house purchase? Or is it too risky?
We have about €10,000 as a buffer in a daily money account.
As said, I converted things that occur e.g. once a year into monthly amounts so that they are already set aside when the annual burden comes.
Thanks for your suggestions and advice in advance.