Construction financing - mortgage instead of equity?

  • Erstellt am 2019-08-27 07:04:59

haydee

2019-08-29 09:20:11
  • #1
If there are children, it will be 600 euros less. And yes, 3,100 euros or rather 2,500 for living expenses and savings, considering the high remaining debt - no, that is too little for me.
 

Wiesel29

2019-08-29 09:45:34
  • #2
Well, it doesn’t have to be that it’s 600€ less.
My wife and I end up with a pretty similar salary.
If either my wife or I were to stay at home now, we would have 115€ less than currently.
For civil servants, it should be added that the salary is quite predictable.
Normal salary increases for the next 2 years are fixed. You also get step increases, whether you want them or not, there is no way around it. And the promotion to A 8, 9, 10, etc. will come sooner or later. All the increases aren’t much but every little bit helps.
For us, this amounts to 530€ net from the period April 2018 to April 2020.

Regards
 

Reini1234

2019-08-29 09:49:06
  • #3
Then you are indeed very cautious there. The high remaining debt is a different matter, but at least they have such a high income available after deduction of installments. Since I work in loan processing at a bank, I believe I am entitled to form an opinion on this. Just as a guideline, here is what our liquidity calculation looks like (completely rural environment):

Living expenses first person: 600 EUR
Living expenses second person: 250 EUR
Child: 200 EUR
1st car: 200 EUR
2nd car: 150 EUR
Apartment incidental costs: 100 EUR
House incidental costs: 200 EUR
 

saralina87

2019-08-29 10:02:29
  • #4


I don't find 30 euros terribly expensive now. And hey, what I can insure, I gladly want to insure! Of course, you can never insure against breakups and affairs, but even then not if you don't contribute 50,000 additional security through the parental home!



I do have a sister, but her building plans are finished. It is also arranged that I am supposed to inherit the parental home at some point and she the shares in the business. And until that happens, we want (of course if everything goes normally) to have long since paid off the land charge.
I think guarantee and land charge are two different things, but I understand that it feels like the same thing.
The notary would be obligated to explain everything to us in detail anyway. And naturally, no one will sign anything before that!



We are transparent, yes.
We also receive allowances for children, just like for marriage. And even during parental leave, we continue to be promoted.
 

haydee

2019-08-29 11:13:20
  • #5
The 600 € less came from the TE, not from me.


That's why I say personally it would be too little for me.
My need for security is relatively high. I could no longer sleep at the thought of a high remaining debt with unknown interest, plus initial expensive maintenance and the children costing a lot as well.
 

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