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

2016-08-23 16:40:57

When I read here that some people earn 5k net per month and find a payment over 1000€ too much. Sorry, then you are also living extremely expensively!

With your income, financing over 300000 is really difficult.

2016-08-24 07:04:34

: But with that, you also have a correspondingly high standard of living. Then, proportionally, there isn't much left over, as with a lower salary.

2016-08-24 12:22:33

Classic case of wish versus reality. Additional construction costs too low and loan too high for income. Better to save for quite a while and also sell the apartment first. Equity is currently zero. The house price is missing easily 30,000 EUR, especially if it is a prefabricated house provider.

Well, you don't know how big the house will be. Some families of three manage quite well with 100m². However, even if the construction costs are correct, I can't imagine managing with those expenses.

- Additional costs: approx. 300.-
- 1 car: approx. 400.- (depending on mileage etc., but including wear and tear, etc.)
- Food, cosmetics, etc.: 500.-
- Mobile phone: 2 x 20
- Daycare: 200.- ?
- Other insurances ???

For me, that definitely adds up to more than 1155...

2016-08-24 12:33:15

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

I have already mentioned it in another thread..

With an income of 4.5k and 85k in equity, we also did not want to finance 320k and took everything a notch smaller.

In the end, we bought a like-new semi-detached house, financed 185k. 4% repayment and either my husband or I can cover the rate alone, in case something happens.

That would also be my recommendation for you. You can definitely live very well in a semi-detached house

As long as the neighbor is not too loud or, conversely, too picky

2016-08-24 12:38:03

When I read here that some people earn 5k net per month and find a installment over 1000€ too much. Sorry, then you are living extremely expensive!

With your income, however, financing 300,000 is really difficult.

I agree with you. Normally, an adult should be able to get by on 1000.- per month including car, etc. That is still more than double the H4 rate (even if that's a silly comparison). Then there would still be 3000.- left for house and other expenses...

2016-08-30 14:34:23

As long as the neighbor is not too loud or, conversely, too picky

That always depends on how loud and picky you yourself are

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

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