jermotenner
2022-06-04 23:33:40
- #1
What happened here? I didn’t want to start such a big discussion.
Anyway, we bought the house.
The mortgage is then 2100 EUR (1.8% interest) per month, 15 years fixed interest rate, and 1000 EUR installment (2.9% interest) for the ancillary costs (term 60 months). With today’s inflation, it was absolutely important. The house basically pays for itself.
By the way, due to inflation, we have already received salary increases, so it is now 7200 EUR. We can repay the secondary loans early at any time; when they are gone, we only have 2100 EUR left, which is very comfortable with 7200 EUR net. And the net income is guaranteed to increase in a few years.
The house itself is very well maintained, and a lot was done beforehand, e.g. roof insulated, basement exterior walls insulated, ring drainage around the house laid, etc.
An oil heating system is present, and all craftsmen have already been commissioned; we are now paying 60,000 EUR for: removal of old floor coverings, installation of underfloor heating on the ground and upper floors, tiles, and a new heat pump; thanks to iSFP we get 50% back, so we ultimately only pay 30,000 EUR, it has already been applied for and funding guarantee is in place. That leaves 70,000 EUR for the rest.
Since we got 100,000 EUR as a modernization loan, we can have it paid out directly without submitting an invoice. However, we prefer to invest it in the house, i.e. new photovoltaic system, new electrical, new windows etc. The facade is already insulated, as is the top floor ceiling.
The location itself is great, very quiet, public transport nearby (walkable) in the commuter belt of one of the largest cities in Germany with direct subway, bus, and regional train, and soon also S-Bahn connection.
Both of us have 100% home office anyway, so fuel costs hardly bother us. We can partially deduct electricity costs due to home office, and with photovoltaics, it’s also practical. Furthermore, the heat pump means CO2 tax is not an issue for us.
Additionally, the house has a huge fireplace that goes through the whole house in the middle, and we have enough wood since an acquaintance owns a forest; that way we can basically heat for free, which is very easy with the fireplace since we both have 100% home office.
With today’s interest rates, it would have been foolish to turn it down! Now 4100 EUR net monthly left for 3 people is easily possible since we have hardly any fuel, electricity, or heating costs. How do you actually live that it’s not enough? Luxury and vacation every day, or what? lol
It’s really no wonder at all that the homeownership rate in Germany is so incredibly low when people think 4100 EUR is not enough for 3 people.
Anyway, we bought the house.
The mortgage is then 2100 EUR (1.8% interest) per month, 15 years fixed interest rate, and 1000 EUR installment (2.9% interest) for the ancillary costs (term 60 months). With today’s inflation, it was absolutely important. The house basically pays for itself.
By the way, due to inflation, we have already received salary increases, so it is now 7200 EUR. We can repay the secondary loans early at any time; when they are gone, we only have 2100 EUR left, which is very comfortable with 7200 EUR net. And the net income is guaranteed to increase in a few years.
The house itself is very well maintained, and a lot was done beforehand, e.g. roof insulated, basement exterior walls insulated, ring drainage around the house laid, etc.
An oil heating system is present, and all craftsmen have already been commissioned; we are now paying 60,000 EUR for: removal of old floor coverings, installation of underfloor heating on the ground and upper floors, tiles, and a new heat pump; thanks to iSFP we get 50% back, so we ultimately only pay 30,000 EUR, it has already been applied for and funding guarantee is in place. That leaves 70,000 EUR for the rest.
Since we got 100,000 EUR as a modernization loan, we can have it paid out directly without submitting an invoice. However, we prefer to invest it in the house, i.e. new photovoltaic system, new electrical, new windows etc. The facade is already insulated, as is the top floor ceiling.
The location itself is great, very quiet, public transport nearby (walkable) in the commuter belt of one of the largest cities in Germany with direct subway, bus, and regional train, and soon also S-Bahn connection.
Both of us have 100% home office anyway, so fuel costs hardly bother us. We can partially deduct electricity costs due to home office, and with photovoltaics, it’s also practical. Furthermore, the heat pump means CO2 tax is not an issue for us.
Additionally, the house has a huge fireplace that goes through the whole house in the middle, and we have enough wood since an acquaintance owns a forest; that way we can basically heat for free, which is very easy with the fireplace since we both have 100% home office.
With today’s interest rates, it would have been foolish to turn it down! Now 4100 EUR net monthly left for 3 people is easily possible since we have hardly any fuel, electricity, or heating costs. How do you actually live that it’s not enough? Luxury and vacation every day, or what? lol
It’s really no wonder at all that the homeownership rate in Germany is so incredibly low when people think 4100 EUR is not enough for 3 people.