Evaluation of Construction Project / Credit Offer

Phew, I feel like I’ve never seen such a stressful thread here before

I know some people who, just like the original poster, have managed big vacations and other luxuries before house, yard, and kids, and then focused on settling down, etc. That doesn’t mean you never go on vacation again, eat out at a restaurant, or watch a movie at the cinema. Some people here act as if you turn from millionaire to beggar... the OP surely knows what he’s getting into.

We have similar incomes, would I finance 500k with that? Honestly, no. But I also have nothing to inherit, or 10k bonus per year. If you’re not shy of these numbers, why not? Good luck with your project!

Now nothing major but what I never really understand. You talk about similar income but then say you don’t have a 10,000 euro bonus. Exactly that makes the difference and so you don’t actually have the same income. No offense meant and I could also have picked 3 other posts. In my opinion, people dwell way too much on the monthly net income and look too little left and right. Whether it’s the workplace in town/village, childcare, bonus, company car, etc. A couple (30 years old) with a total monthly net income of 4,680 euros can earn 91,000 gross or 140,000 gross (14 salaries, bonus, company car). But you’d probably recommend a maximum financing of 370,000 - 400,000 with both salaries here. One manages it rather tight but the other comfortably because he saves 500 euros a month on the car and more often receives special payments as a buffer etc.

Now nothing great but something I never quite understand. You talk about similar income but then say that you don’t have a 10,000 euro bonus. Exactly, that makes the difference and so you don’t have the same income. No offense meant and I could have taken 3 other posts as well. In my opinion, people focus far too much on the net income per month and look too little left and right. Whether it is the workplace in the village/town, childcare, bonus, company car, etc. A couple (30 years old) with a total monthly net income of 4,680 euros can earn 91,000 gross or 140,000 (14 salaries, bonus, company car) gross. But it feels like with both salaries, you would recommend a financing of a maximum of 370,000 - 400,000 here. One manages it relatively tight but the other does it easily because he saves 500 euros a month for the car and gets special payments much more often as a buffer, etc.

Basically you are right.

But I expressed myself poorly there. We have more net income monthly, but I don’t get a “one-time special payment” of almost 10k that could flow directly into the special repayment, as the original poster intends. We save the special repayment of nearly 10k every year.

Hence my “similar income.”

This has nothing to do with "Nice guy" but you are simply incredibly unpleasant and without empathy. I could have bet that you are a solo fighter (self-employed (not derogatory)) and have never seen a corporation from the inside. And if you have, as you mentioned, then probably without collective agreement, otherwise you wouldn't put ordinary collective increases or AT salary rounds from a team leader (?) into the realm of fables. There is no begging and pleading there but sometimes undeservedly more money

matte1987 made a great post and the OP has already pulled out his "doings". I haven’t looked at the list 100% but we paid over 6,000 euros for our PVC front door including side panel (glass) (including installation).

No, I am an AT employee. And no, it is not usual everywhere that AT employees receive an increase despite collective agreement. Certainly not 500-1000 € per month, which would help the OP.

Snore...and who has the longest....company car now?

Snore...and who has the longest....company car now?

Me! Because I commute by train! So I probably have the longest!

In the meantime, something has changed on our income side; I was able to achieve a "smaller" increase.

Our situation now looks like this:

Me: €7,100 gross = €3,800 net per month, bonus per year additionally €10,000 gross = €5,000 net
Her: €3,800 gross = €2,100 net per month, bonus per year additionally €8,000 gross = €4,000 net (initially unchanged).

Our annual tax refund will, according to my first forecast, be €3,500.

That means we now have €5,900 net monthly and roughly another €12,500 net annually available; the annual net salary thus amounts to €83,300.

How do you see the project under these new conditions?

Otherwise, the framework conditions are relatively unchanged; we are currently tending more towards KFW55 in solid construction, but we would tend to invest the "savings" compared to KFW40/KFW40+ rather in larger "buffers" to definitely be able to realize the construction project within the budget.

Thank you very much for your feedback.