Construction financing 40,000€ equity, tied to a condominium

Hello ?

We finance an amount of €180k with an income of €3.3k. With a repayment rate of almost 3%. We feel very comfortable with the rate. And my partner has now unexpectedly become unemployed and I can manage the rate on my own. Fortunately

Listen to your gut feeling, it does mean something when the body sends signals.

I already mentioned it in another thread..

With an income of 4.5k and 85k equity, we also didn't want to finance 320k and started everything on a smaller scale.

In the end, we bought a like-new semi-detached house, financed 185k. 4% repayment and the rate can be covered by either my husband or me alone if something should happen.

That would also be my recommendation for you. It is definitely very livable, even in a semi-detached house.

I also financed it in a way that fits with one salary, which in retrospect was also good. After the now three years of parental leave (with 2 children/halved rate each), my wife looked for a 450€ job instead of part-time, which the old employer no longer wanted. Therefore, "only" a 200k loan with 5% repayment. However, we had more than half equity.
from on the go

Fortunately, I can cover the gap. However, vacation or similar is absolutely out of the question. Horror scenario for me right now – one of the cars kicks the bucket. We would really struggle with that.

according to all financing inquiries here, cars cost nothing after financing.

Quote from many:

a few more months and the car is paid off

is just a misconception

Thanks for the (not) so nice story. Unfortunately, these are the cases where an alleged dream financing that doesn't fit from the start falls apart. Similar with us, my wife becomes unemployed with severance pay (we already know that now).

Well - our financing hasn't collapsed. We deliberately chose it so that in the worst case (no income at all from my wife) I can (with a heavy heart) cover the financing myself. However, purchasing a (new) used car at the moment would only be possible with significant restrictions (except for giving up vacations).
However - if I were to lose my job, we would have to sell, as with my wife's income (even at the originally planned income) the installment + other costs could not be permanently covered. This was clear to us from the start, as my wife wouldn't earn accordingly working full-time herself (that's just how it is in retail).

I just wanted to point out here: the unexpected often happens. If you calculate some things too nicely, sooner or later you will fall flat on your face.
Even with cool planning, unforeseen things can happen.

I'm glad we didn't put up a 480k house.

Me too.