Construction in the Munich district, realistic?

I wanted to ask earlier, "senior" public service, you earn significantly above average there, but in Munich you're just a poor sucker again...

With €4800 net (in future part-time, it's not like that yet) plus €400 child benefit, you should consider a loan of €650k very critically. In my opinion, that's too much. And it has already been calculated that this is by no means a generous budget. Did the bank just say "yes" like that? Because the equity share is so high?

You yourselves have saved nothing so far (are you paying rent to your parents?)? How much does the daycare cost compared to your part-time salary – how much more is really available to the family?
For the loan amount mentioned above, a monthly rate of around €2000 would be due.

I can imagine that the bank approves that. After all, one-third equity capital is not bad. But if almost none of it was earned independently, the question arises how this is supposed to work in the future.

Yes, unfortunately there is some truth to that. In other regions we could probably afford it well. But here in and around Munich, it's really difficult. Since almost all of us work for the city and also hold good positions, relocating is not an option. Our self-saved equity went into furnishing our current apartment 4 years ago (kitchen, electric shutters, awning were a large part), and last year we bought a caravan. There is still some left, but we would still like to have some reserves. Besides, of course we pay rent to my parents. Not quite typical for the area, of course, but not little either.

Hello,

so we are starting our construction at the end of the year in the Munich area (Freising) and expect about 4k to 4.5k per sqm excl. basement, aber single-family house. High-quality fittings, but nothing crazy.

If it would be less, that would also be okay, but we preferred to set it higher than too low.

Best regards

That seems like quite a lot to me again, but I have no idea about house construction in M.

Hello,

as mentioned, it is not 100% conclusive and is only intended as a guideline. We are currently assuming 4k, but also have a buffer for more. We have quite a lot of extras on top, about 100k, which you probably don’t have in a standard version. Smarthome alone is relatively expensive and not a small item.

Best regards