Der Da
2014-03-05 12:34:06
- #1
The problem with inheriting is that it is simply not certain. First of all, you can’t possibly see into the future or know what will happen to your parents in old age. Nor can you prevent your parents from spending all the money.
On the one hand, there are high care costs of several thousand euros, which are usually not covered by the pension, and on the other hand, there is an extremely high life expectancy.
It can also happen that the parents spend all the money. A lot of traveling, expensive cars, hobbies, or falling for a scammer.
What I want to say is: never count on an inheritance. If you inherit, you can pay for the funeral with it, and maybe there will be something left over that you can then perhaps set aside for your own children. Your parents’ houses will probably also lose value the longer they live in them. (Maybe an exception in Munich.)
As you have already been advised: talk to your parents. There are many ways they could support you. Maybe consider a sale or a gift. Or they simply give you the assurance: If things get tight for you: we will then help you financially. The important thing here is to lay all the numbers completely on the table.
We also have this "parents’ insurance," and only for that reason did we dare to do it, even though we had almost €150,000 in equity.
But when it comes to money, I’m a scaredy-cat and don’t like loans.
By now it has been the best decision to build after all, although I still feel sick when I think about the total amount we put into the house. Over €400,000 and that’s not even including the outdoor facilities and the basement...
If this amount had been told to me so clearly in advance, I probably would never have built.
Today my wife works part-time again, and my salary is just barely enough to cover our costs. But big purchases are no longer so easy. Where we used to have €2,000 left every month, we now have to seriously hold back. That is the price for owning a home.
We have not yet needed the parents’ insurance, and it is also rooted in our pride not to have to use it.
But if my car gives up the ghost tomorrow (which unfortunately is not so unlikely), we would have to manage that again with a loan. (And we really have enough of those now... you have to be careful not to let the interest eat you up. Unfortunately, they are rising faster than wages.)
Fortunately, for our child we don’t have to buy anything ourselves because we have relatives who already have two children and gradually pass everything on to us. You must not underestimate these costs. Child seats, etc. cost a fortune.
Still, I think you are slightly underestimating the monthly costs. With a house loan of €250,000, we have fixed monthly costs of almost €2,400. That does not include fuel yet, no food, no special items bought, no diapers...
I think you haven’t taken the insurance into account yet.
On the one hand, there are high care costs of several thousand euros, which are usually not covered by the pension, and on the other hand, there is an extremely high life expectancy.
It can also happen that the parents spend all the money. A lot of traveling, expensive cars, hobbies, or falling for a scammer.
What I want to say is: never count on an inheritance. If you inherit, you can pay for the funeral with it, and maybe there will be something left over that you can then perhaps set aside for your own children. Your parents’ houses will probably also lose value the longer they live in them. (Maybe an exception in Munich.)
As you have already been advised: talk to your parents. There are many ways they could support you. Maybe consider a sale or a gift. Or they simply give you the assurance: If things get tight for you: we will then help you financially. The important thing here is to lay all the numbers completely on the table.
We also have this "parents’ insurance," and only for that reason did we dare to do it, even though we had almost €150,000 in equity.
But when it comes to money, I’m a scaredy-cat and don’t like loans.
By now it has been the best decision to build after all, although I still feel sick when I think about the total amount we put into the house. Over €400,000 and that’s not even including the outdoor facilities and the basement...
If this amount had been told to me so clearly in advance, I probably would never have built.
Today my wife works part-time again, and my salary is just barely enough to cover our costs. But big purchases are no longer so easy. Where we used to have €2,000 left every month, we now have to seriously hold back. That is the price for owning a home.
We have not yet needed the parents’ insurance, and it is also rooted in our pride not to have to use it.
But if my car gives up the ghost tomorrow (which unfortunately is not so unlikely), we would have to manage that again with a loan. (And we really have enough of those now... you have to be careful not to let the interest eat you up. Unfortunately, they are rising faster than wages.)
Fortunately, for our child we don’t have to buy anything ourselves because we have relatives who already have two children and gradually pass everything on to us. You must not underestimate these costs. Child seats, etc. cost a fortune.
Still, I think you are slightly underestimating the monthly costs. With a house loan of €250,000, we have fixed monthly costs of almost €2,400. That does not include fuel yet, no food, no special items bought, no diapers...
I think you haven’t taken the insurance into account yet.