Dream of the house doable or better to leave it completely?

Hello,
I am writing my first post here, until now (about over 1.5 years) I have been reading through the forum and gathering all kinds of tips.

Now it might be time for us, the plot is already reserved (134,000€), actually 34,000€ more than we wanted to spend at the beginning but since it is very difficult to get good plots here, we just have to accept that.

It should be a prefabricated house but we don’t know with whom yet, manufacturers like Allkauf Haus, Okal Haus, ProHaus are in the running.

Now about financing:
Equity 55,000 of which we want to keep 20,000 for now, you never know.
Together we earn 3,800 + child benefit so nearly 4,200€.
0 debts until today meaning no loans running.
We live relatively normally, go on vacation, have 2 cars, occasionally treat ourselves to something.
Since we have more or less never thought about money, we get a stomach ache when it comes to paying an installment of 1,200-1,300€.
So far rent warm is 700€ and we have been able to put aside between 800-1,000€ per month.
We will probably have to take out a loan of 350,000€.

What do you think, is this doable or are we worrying too much?

Thanks
Eu e tu

1450 € would be 5.5% annuity (e.g. 15 years fixed interest period and 3% repayment) 500 € cold rent + 800 € would be 1300 €. Lower repayment would be an option, but it would mean a higher risk later on. Otherwise, get going, keep a household budget diary and see what you can and want to do.

Everyone knows the household budget book and the flip chart from Peter Zwegat. Anyone who only goes by that will be bankrupt very quickly. It is precisely the expenses that are not included in it that later take away your breath. I have been doing cash flow calculation for about 12 months, and every month there are expenses that were not planned or do not appear on any flip chart. Long story short: at the end of the month, at least €400 should be left for unforeseen expenses.

Good morning to you,

I can basically only agree with the previous speakers, or rather, I have already written this in many other threads. My partner and I are currently also facing these bills, and if you are unsure, you should keep a household budget book.

At first, we were also a bit overwhelmed and thanks to some people in the forum, we created the best possible and realistically attempted income/expense statement for the "worst case." From that, you get a rough overview, as long as you don't sugarcoat anything, of course.

It was not clear from above whether you want to have children or if there are already some, which is also a very big point, especially if one parent only earns half.

My tip: create an invoice for the worst case and really include everything. Then see what you can afford (so that there is still something left for emergencies each month). That would be my first approach.

Perhaps a good reference is the last post on page 11.



Regards Andi

Hello and thanks in advance,
Children, of course, totally forgot how could I, yes we have children, actually 2, and have basically finished our family planning.

Regarding the fixed costs, we have already made a table with the current expenses and ours is exactly €1571 including dining out.

In addition, there will be higher instalment payments (€850), 2 risk insurances (2x€22), one disability insurance (€78).
So we would have a total of €2543 (2600) in fixed costs.

Everyone knows the household budget book and Peter Zwegat's flip chart. Anyone who only relies on that goes bankrupt very quickly. It is precisely the expenses that are not included in it that later take your breath away. I have been doing cash-flow calculations for about 12 months and every month there are expenses that you did not plan for or that don't appear on any flip chart. Long story short: at the end of the month, at least 400 euros should be left for unforeseen expenses.

Well, if you keep a household budget for 2 or 3 years, then all costs are included, right, or am I mistaken?