Can we afford the solid wood house KFW70?

Did you purchase the property? Or inherit it? How do you determine the value of the property? With only €3000 income, a €1500 installment is a lot of money - additional costs are not included yet. That means you are spending 60% of your income just on the house. Then two cars if you are heading towards Haimhausen, and the €3000 is very tight. PS: Children are very expensive,...

With an income of €3,000, a "hut" for €370,000 - now that's what I call luxury!!!

If you are planning a somewhat smaller house, the financing might work out better. You don't need 250 sqm for a small family.

Hello,

in principle, this should also be feasible with part-time work. I also consider the 25 years fixed interest rate of 3.07% on the main loan to be a good offer.

Since you are not yet married, you will not benefit from the spouse splitting tax advantage. That could certainly always result in a nice tax refund. The inheritance has already been discussed. It may come, but it does not have to.

What worries me is the high burden. If you are clear that it will be "tight," that you have to create reserves in addition to the loan and other costs will arise, then it is OK.

Three vacations a year will no longer be possible... my opinion

Hello everyone,

thank you already for your feedback!
By the way, we still plan to make special repayments annually, so the follow-up financing won’t be as bad.
However, it’s always a question of whether you actually go through with it or rather go on vacation with the saved money.

@ypg:
Secondary construction costs / architect:
You’re right, the secondary construction costs are estimated too low as I described them.
But in these secondary costs, I only included connection costs like electricity, water, telephone, sewer work, and drainage.
I counted all the earthworks as part of the house because for me they belong to the basement.
The architect was estimated at €5,000 because he “only” planned the house design (this has already been done and I have already received the invoice, so it is a real value and not made up).
The working plans will then be created by the house construction company and are also counted as part of the house.
You are right about the exterior facilities!
We will also plan about €10k here and pay for it ourselves.

Inheritance / care:
You are of course right about care, it can get quite expensive in the worst case and should still be included by us.

@jaydee:
Unfortunately, the hut is still far from a huge luxury.
The house has a living space of about 190m2, whereby this already includes a guest room in the basement.
So we have a “pure” living space of about 140m2.
In the greater Munich area, such costs for a house are unfortunately normal.
We come to construction costs with everything included of about €2,100 / m2.
That is totally normal in our region.
However, we also have wood-aluminum windows, parquet floors, natural stone tiles in the bathrooms, an expensive kitchen, and no standard sanitary equipment.
That was important to us, since we only build once.

@HilfeHilfe:
You’re right, we have already talked about getting married several times and it is also being considered
We are also quite aware that it will be tight.

@Wastl:
We are in the northern district of Freising.
Only one car is planned because I can go to work by bus thanks to a good bus connection (thank God).

Hello,

yes, it's always a bit tricky with the Sondertilgung. Usually, it falls victim to consumption. Basically, I would still advise you to create a household budget and calculate it thoroughly. The banks are not there to do that. They check the current status with 2 full-time jobs. Mostly not the reality.

@jaydee:
Unfortunately, the house is still far from being a huge luxury.
The house has a living area of approx. 190m2, which already includes a guest room in the basement.
So we have a "pure" living area of approx. 140m2.
In the greater Munich area, such costs for a house are unfortunately normal.
We come to construction costs with everything included of approx. €2100 / m2.
This is completely normal in our region.

We live 40 km east of Munich and I would say that €2100 / sqm is not normal. We are certainly in the lower range with €1400 / sqm, but if I assume €1800 now, I still come quite close.

However, we also have wood-aluminum windows, parquet floors, natural stone tiles in the bathrooms, an expensive kitchen and no run-of-the-mill sanitary equipment.
That was important to us, since we are only building once.

So a bit of luxury after all, right?

My husband also once thought he would only build once. Now his ex-wife lives in his first house. So never say never!