Can we afford to build a house?

  • Erstellt am 2012-08-12 17:27:19

DaSt

2012-08-14 10:57:15
  • #1
I believe that discussing pensions in detail doesn’t really help much here. Ask 100 advisors and you’ll get 150 opinions...

No, unfortunately you don’t have any equity to contribute. Therefore, the calculation is unfortunately invalid.
But the tip is quite interesting and I will read more closely on this topic. Thank you very much!
 

Der Da

2012-08-14 11:41:53
  • #2
One more note... 300 sq m will hardly be enough for your house if it is to be a detached house.
 

DaSt

2012-08-14 12:39:56
  • #3


I’ve already written that. You just have to get detailed information if you know where it’s supposed to be. It’s different everywhere how you are allowed to build on a plot. But the minimum plot size is enough for me, that’s what I wanted to say.

I’m still right at the beginning of planning. There are many variants & possibilities, for example with my parents-in-law was just one of them. The house doesn’t have to be 140 sqm either, maybe 120 sqm will suffice. Then you just have to look at the price difference after I’ve spoken to the financial advisor. And if he says "that works," then I’ll go to a second one and have it confirmed and then also to my house bank. If one of the three raises concerns, then that’s it for me. I really don’t want to live hand to mouth every month and with fear...

As I already said – I am generally very careful when it comes to money. Before it would really start, I would also get a 100% check-up from the doctor beforehand, really for every little thing. At least that gives a somewhat better feeling...

I just find it very sad that here in the forum you want to get good ideas / suggestions / tips / experiences or whatever and many first start off rushing and whining like "Are you crazy, you’ll never manage that" instead of thinking together about how it could work. And to such sweeping statements like "What do you want to achieve with 20k play money" I don’t give anything at all. Everyone has personal life circumstances they have to deal with, for example I last went on vacation in 1994 and I don’t care about vacations at all. Someone else might have a smaller house and go on vacation 3 times a year instead... Sorry for the OT, but I just had to get that off my chest.
 

Der Da

2012-08-14 14:26:03
  • #4
It's perfectly justified to get that off your chest once in a while.

However, you don’t gain anything if someone just sugarcoats a project for you. Since no one here knows you or how you handle money, it’s actually not surprising that people are initially skeptical of you. Personally, I was very relieved by the harsh manner even of my house seller, who has absolutely no interest in talking me out of the plan. But it was precisely these hints: 20,000 is pocket money, that made us pause and think during the initial euphoria.
It’s about a lot of money, and I would argue that we can handle it well, but we were completely unaware of what else awaits us. As I’ve written before, we estimated 200,000. And now it’s almost 400,000. So 20,000 really no longer matters.

I also see this forum more as a “what haven’t I thought about” – worst case finder.
What’s the point of making yourself a nice plan, only to have to add 50,000 or more at the end because you haven’t thought of many things?

A good example is parental leave. With the first child, that’s great because there’s 65% of the mother’s net income. But what if the second child comes along without the mother having had a full net income for 12 months? Then the parental allowance is around 300 € per month. And if you calculate with that, many a dream bursts.

That was just one example. I’m sure no one wants to talk you out of the house, but no one wants to take on responsibility either if you sign – after all, everyone said that it would definitely work.
The alternative is that you won’t get any more feedback here in the forum on financing questions.
Personally, I will continue to respond to these kinds of threads and always be the critical “observer.” At least I have learned many perspectives through these and similar hints.
 

DaSt

2012-08-14 18:13:49
  • #5
Nobody says that - I don't want anyone to sugarcoat anything for me. But just as little do I want someone to talk down something for me, which most of the time are the people who are afraid of work or for whom everything is immediately too much. I just want an honest assessment.

I am 31 years old and have had to work for and pay for absolutely EVERYTHING myself my whole life. Unfortunately, I wasn't lucky enough to have my grandmother slip 150k into my Christmas stocking, or to receive a savings bond or something similar for my 18th birthday... I know many who were lucky like that and I wish it for everyone, too, but what really makes me mad is when these people want to tell someone who struggles on their own something about money.
Therefore, I think I quite well know what my money is worth. If a 20-year-old now writes in here who maybe earns 2k gross, I can explain such a reaction, but I am already out of that naive age.

And if someone then blames someone from the forum for their failure... I'm sorry, they deserve no less.

That’s true - I am also diligently collecting this information here. I already created an Excel sheet a week ago in which I immediately enter everything that could cause costs, that I find on the internet.

I also create exactly these kinds of calculations in my Excel. I always assume the worst case and also consider a second child. But you don’t only earn less with one child - a child costs a lot of money, let alone two. But on the other hand, I would of course get married before that, i.e. I would have 400€ more from tax class 3 + child benefit + saved daycare spot + wife with at least a 400€ job.... So I really try to think of everything as much as possible and had no intention of starting to build tomorrow, so I will continue to collect information carefully and when I think I have gathered all the information and have planned for all eventualities, I will decide whether it works or not. You simply can’t see such financing as just black or white.

I have nothing against critical observers, on the contrary, I welcome such opinions (I also get them from my close environment), but then they should stay objective...
 

Bauexperte

2012-08-14 20:21:24
  • #6
Hello,


I will not comment on the question of financing; I think you are on the right path - besides, my job alone is enough for me if I want to do it properly :-)

I believe that the "nice" gentleman led you quite up the garden path or wanted to pique your curiosity. 200 sqm of living space at a price of €300,000 is possible - here the price per sqm of living space is €1,500.00, which is very realistic. BUT - this amount will "only" appear at the bottom right of the offer if the parents-in-law can be accommodated in a granny flat. With a separate extension, this price can never be realized; not here in the Rhineland and certainly not in Hesse.

So that you get a feel for the price/performance ratio, I have attached both the ground floor and attic floor plans of a single-family house with a granny flat to my answer. The granny flat has 48.47 sqm of living space, the main apartment 136.36 sqm of living space; so we are talking about almost 185 sqm of living space in total. As a KfW 70 efficiency house on a foundation slab, this comes to €280,000 - excluding painting work and floor coverings.

You still have to add the cost of the land to this price, as well as the typical ancillary building costs amounting to €35,000; a reserve for extras should also be taken into account.

A detached single-family house with 140 sqm living space and an independent extension with 60 sqm living space would - depending on the roof shape of the extension - cost at least €50,000 more.

Kind regards

 

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