Construction financing for a single-family house with a granny flat

3200 net plus uncertain rental income and 500k financing

really kamikaze

is there somehow still a lever? Wife goes part-time and another 1000 net comes in?

you also have a minimum repayment of 2%, how do you want to reduce the loan? with which money should renovations be done? after 15 years the "aches and pains" start with the house.

especially with the 10-year loans there will still be a good amount of remaining debt

leave it

With the low income, I wouldn't even dream of such a loan amount. I wouldn't think about property ownership at all. Some ideas people come up with..

I wouldn’t do that either. Too much money for too little income. Why does it have to be this house? I can hardly imagine a bank going along with it.

Completely off in terms of scale, the whole project and: child benefits should NEVER be counted as income; they don’t even cover food! We have raised two "Ferraris" ourselves; we love them very much, really! And wouldn’t want to miss a minute. But until they are "out of the house," they just cost...

Will our questions still be answered by you for the sake of a fruitful discussion?


Regards, Yvonne

With such a low income, I wouldn't even dream of considering such a loan amount. I wouldn't think about owning property at all. Some people have the strangest ideas..

Since which year has €3200 net per month actually been considered a low income? This is not meant as a personal attack, but I find such statements somewhat derogatory and apparently no average German (according to the Federal Statistical Office) can afford a home?! @TO: Did the offer come from a reputable bank? The advisors were able to clearly demonstrate what is realistically possible with our income and the kids, and I found their calculation sometimes a bit too optimistic.