Construction financing - what can we afford?

  • Erstellt am 2016-05-10 22:02:02

Mo Nique

2016-05-30 10:47:20
  • #1
If I am willing to pay €700,000 for a house, then I would also not buy my child Aldi shoes made of plastic, in which the feet are not properly supported for children. Everyone has to set their own priorities.
 

EveundGerd

2016-05-30 11:11:06
  • #2
We do not experiment with shoes. Aldi and similar shoes belong in this category. An inexpensive pair of pants is okay but shoes from discount stores ..... No go.

If you want to buy children's clothing cheaply, you should go to a clothing bazaar. There you can find good clothes at low prices.
 

HilfeHilfe

2016-05-30 11:18:28
  • #3


that’s why I think the financing and the construction project are too big. For example, we want to go to the Therme Erding with the kids. 4 people = €160 admission + €100 for 2 nights accommodation (cheap guesthouse) + fuel, haven’t eaten yet...

vacations cost more, especially as a teacher you can only fly during the holidays.

but as always I say, everyone is the architect of their own fortune. If you trust yourself with €700k on €6k net and want to limit yourself. why not
 

Saarschwabe

2016-05-30 23:05:22
  • #4
Hello again,

I find it somewhat unfortunate that the attached household planner is not being considered.
Also, I never wrote that we want to buy shoes at Aldi.
I am quite glad that some statements are being relativized, which I would also like to do.

Brands will be bought by us just as little as cheap stuff from third countries. Why a child needs 6 or more pairs of shoes costing 60€ - 80€ each (and I really had a nice childhood) doesn’t make any sense to me at all.
A car can also last longer and does not have to cost 20,000€ - 100(....).000€.

The same goes for vacations... neither a zoo visit costs 120€, nor do I consider it necessary to regularly go to a thermal bath including overnight stay. We were recently for 1 week at Lake Garda, a self-catering apartment with a wonderful pool and playground facilities. A dream for children. 400€ for 4 adults, significantly cheaper with children. Something like that fully meets our expectations. Vacations in the surrounding area (Bavarian Forest, Black Forest, etc.) are also something very nice for us. We are not drawn to the Maldives or the like. A nice holiday apartment, possibilities for the kids to play... mountain lakes, hiking trails... a dream... I would exchange that for any 5000€ trip to Dubai.

Apart from that... we are talking about 7,000€ net... that is an incredibly large amount of money, and I am grateful and humble that we are allowed to live such a life. With this money, we would now like to not live extravagantly (although a 700,000€ house is large enough), but build a admittedly large (170m² + 80m² basement + double garage), but otherwise not exclusive hillside house, which in our case involves considerable additional costs compared to a house on flat ground. We don't need any gimmicks. All we would like would be this beautifully located, 165,000€ expensive plot and the house on it. How the costs roughly add up is stated at the beginning of the topic... no golden faucets or anything else.

Again, about the Hamburg plan... even with a rate of 2200€ per month, 700€ for food, drinks & drugstore items is planned (it says above that it can also work with around 500€), no one has to starve, thirst or become neglected... 300€ pocket money for both of us, 150€ vacation money (1800€ per year (!)), a 150€ buffer item... then 1200€ per year for birthday presents, 50€ for a nice evening for two. The childcare costs are also included with 700€.

And still, no less than 1100€ remain... and as described, that will increase every year.

Despite such a standard of living, we are therefore talking about an additionally available amount of 1100€, which over 15 years will rise to at least 2500€ (!) (and beyond)... if I told my brother this (roofer with two children and wife as a bakery saleswoman)... honestly...
All eventualities regarding accidents from within or outside, which come with premature disability or, in the worst case, death, are covered.
All this with a planned financing term of 25 - at the latest 30 years.

As I envision my life for myself, my better half, and, God willing, my children, this money has to be enough... more than enough!

Judging by the reactions, however, I obviously have a fundamental error in my planning. Again... I don’t want to close myself off stubbornly against convincing arguments, but at the moment I do not understand the sometimes massive concerns.
 

HilfeHilfe

2016-05-31 07:45:36
  • #5


Hello,

even though you have presented your position, I would like to address a few points.

Topic shoes:
Neither you nor I know how many pairs of shoes have been “worn out” at an advanced age. We didn’t even notice that, your argument with a few pairs of shoes falls short. My wife shows me the worn-out things of our sons. Especially at the age up to 6 years, they quickly outgrow them. Everyone has one pair of sneakers (children’s gymnastics), for outside as well as sandals. This has nothing to do with consumption.

7,000 net income? In the initial post it says 5,500 after private health insurance. Missing 1,500€. If you go part-time and child benefit comes in, we are still at 5,500. Yes, you both calculated with full-time. Is that realistic? I would reconsider, with 700k financing you are forced to work, here you have no freedom anymore.

700k house = with almost full financing and 4% interest and repayment you have a rate of 2,333€. With 5,500 income and 2,333 you have to want it and accept a very high remaining debt. You have also already adjusted the construction sum twice. I don’t see the 700k as set in stone either.

No one means you harm, in the end you decide your future. However, you should consider that we all give tips here both professionally and privately. You wanted them, now you don’t like them. I could now also complain about my favorite civil servant teacher that they are not resistant to advice. I don’t. You wanted the concerns to be raised.

You have to decide for yourself.
 

Jochen104

2016-05-31 08:04:43
  • #6
Hello, I don't think your household calculation is the problem. Everyone just has to be honest with themselves.

In your place, I would rather think about the costs of the house. 535T€ (just for the house as far as I can see now) is quite a hefty sum. We have 184m² of living space and almost 80m² of usable space (garage + basement replacement room) behind it. Our plot only rises slightly, but due to the varying load-bearing soil, some additional work was also necessary. Nevertheless, we have by far not spent this amount.

Maybe you should just talk to your architect about alternatives (layout of the living space or similar) that could lead to a significant cost reduction. Maybe a partial basement would also be an option for this steep slope?

We are of a similar age. Personally – and you should think about this too – I wouldn't feel like paying over €2000 every month just for the house for the next !!35 years!!.
 

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