Desirable property affordable? Experiences?

  • Erstellt am 2023-01-23 10:28:06

xMisterDx

2023-02-06 11:30:22
  • #1
15-year-old children also cost more. Especially boys who do a lot of sports quickly eat up four times what they consumed as 4-year-olds.

As I said. It is doable. But there won’t be any big leaps anymore, with >3,000 EUR just for the loan. And in 15 years, almost half a million will still be outstanding... I consider it madness.

They would be out of the worst with 3 children at the earliest in 4 or 5 years. Until then, I would assume one salary and at least 10% more than is currently assumed. So regarding the costs.
 

leschaf

2023-02-06 11:30:24
  • #2


I see it the same way. Our income situation is similar (currently 5k/1k + 700€ rental income, next year then 6k/0k + 700€ rental income (didn't get a daycare spot :( -> change of tax classes to 3/5). Sure, it looks bleak if I lose my job. I am currently in a position with my employer that I won’t find so quickly elsewhere in the city (specialist).

But by that logic, couples with very different incomes shouldn’t acquire property at all, because the lower-earning partner could never cover the installment on their own. In that case, the "payable from one salary if necessary" simply does not apply.
 

xMisterDx

2023-02-06 11:51:21
  • #3
It's mainly about the crazy rate of 3,000 EUR+.
 

Traumhaus31

2023-02-06 12:02:30
  • #4
Job is not in the public sector but in the private sector. A significant salary increase comes from promotion + tariff increase starting in June (+5.3%). For the rate, we have set an absolute maximum of €3,000. This applies not only to this property but also to other properties we are currently viewing. Ideally, we want to end up somewhere between €2,000-2,500. But whether it is realistic to find something suitable for a large family at that rate is very questionable. We would then have to move further out to the countryside. An alternative is, of course, to save for another 1-3 years now. That would then make about €50k more equity, and only God knows where interest rates will be in 1-3 years and whether prices will continue to rise. So whether that would seriously change our situation remains questionable. I will try to post some photos tomorrow and look forward to your opinion.
 

jrth2151

2023-02-06 14:19:45
  • #5
I don't find €3000 as a monthly payment that unrealistic given that salary. At the beginning of last year, we signed for a €2000 payment with a net income of €5500. Just like with you, that leaves just under €3500 to live on. We are currently trying it out since we already pay over €500 in interest and of course still have the €1600 rent. You can live well on that and even afford an all-inclusive vacation for €500 per person. Then it will just be Crete, Mallorca, Turkey from Check24 or something. Especially with the bonus payments you apparently still receive.

However, we don't have kids yet, and that will probably make things overall a bit tighter than for us, but it doesn't sound completely far-fetched. Keeping a good household budget and not spending money unnecessarily on “crap” is always wise anyway.

The big problem I see for you is the comparatively old house. We are currently building completely new on a 350 sqm plot, and the maintenance and ancillary costs will be as low as possible for a house for quite some time. Even if you manage with the €150,000 renovation, which can always increase, costs may of course come up with an older existing property. Ancillary costs will also be significantly higher. Especially installing a gas heating system right now can be a financial disaster. It's foreseeable that in the next 10–15 years there will be a heavy CO2 tax, and you will want to keep a new heating system for 20–25 years. So if new, then do it properly right away.

If you can clear up these concerns with a good expert and make a solid plan, it can definitely work. I don't see the problem with the payment, but the age of the property could become an issue.

Be aware, though, that such a large house with such a huge plot is also a lot of work. Once the kids are old enough, the whole family needs to be involved, otherwise you'll wear yourselves out.

It should also be mentioned that you are just as young as we are. The salary will definitely increase over the years, making things easier. For example, mine does annually as inflation compensation. That works well. From what I've read here, that is a collective agreement for you. Those also increase steadily if I am not mistaken.
 

SoL

2023-02-06 14:37:33
  • #6

Wow, that is then the golden apple to pear comparison.
As a TINK (Two Incomes, No Kids), you can't imagine how much money and work children (can) cause.
 

Similar topics
07.03.2015Finance a house with rental income10
28.05.2013I am getting a plot of land as a gift. How do I finance the construction?16
03.01.2014How much land and house can we afford?25
11.02.2015Cost planning for a single-family house including land, additional costs, architect32
27.02.2015Is property financing feasible?56
18.03.2015Buying property feasible - Loan with building savings as equity?12
16.06.2015Buy property now, and build in 3 to 5 years?52
15.06.2015Property and additional costs - is the construction sum realistic?16
13.12.2016Realistic monthly rate59
05.01.2018Additional costs and reserves? What are you planning there?62
24.05.2018Single-family house with LABO and land from the municipality for €444k16
08.01.2019How much do you estimate our house construction without land in Saarland?47
25.09.2019Considerations for financing land and home construction10
06.08.2020€420,000 budget for a house including land in northern Brandenburg23
17.07.2022Single-family house: Is the rate realistic? How much house can we afford?177
25.09.2022Financing monthly installment €2500 with 40 years term117
14.03.2023Finance buying land or rather leave it?60
16.02.2024Property in good condition financable?90
29.10.2024Financing options for land and subsequently house23
06.10.2024Property with building after inheritance11

Oben