Evaluation of our financing offer

should be enough to live well with 3200 Euro, I think.

And if not, the parents will also cover the remaining difference. In this respect, there is really nothing to say about the situation: many unknowns, support from the parents for what doesn’t fit. Then it works. Without parents, it doesn’t work.

thank you very much.
what kind of strangers?

If the parents support your start, that's great. The possibility of building real estate wealth across generations is something many families surely wish for, and in the future it will probably be even more important. Otherwise, completing a proper education - top! If the bank also gives the thumbs up, then it will work out.

You could consider setting the fixed interest period to 20 years or more. The rate won't be affected that much, and after 10 years you have a special right of termination anyway, afaik. If the interest rates are lower, refinancing could be worthwhile. If they are higher, you did everything right.

Are 1.5% instead of 2% repayment and 20 years fixed interest perhaps worth considering? Having debt is not that bad if you can afford it. Inflation helps.

Hello,

my fiancé and I are planning to buy a house and I would be very grateful for an assessment of our project.
Since we are both currently students, my parents will be on the loan contract for the first 2 years.

General information about you:

[*]Who are you? my fiancé (31 years) and I (30 years)
[*]Are there any children? no
[*]Are children planned? yes (2)
[*]What do you do professionally? both currently medical students, my fiancé will graduate this year --> start of employment from 01/24, I will graduate next year --> start of employment from 01/25
[*]How many hours do you work? planned both full-time

Income and asset situation:

[*]What income do you have (gross/net)? his income from 01/24: approx. 3300 euros net + bonuses, hers: 1100 euros, financial support from parents until I also work: 1300 euros
[*]How much equity do you have? approx. 320,000 euros
[*]How much equity do you want to invest in the house project? 280,000 euros

Expenditure situation:

[*]current cold rent: 450 euros
[*]current warm rent: 640 euros
[*]electricity: 45 euros
[*]telephone, internet, mobile phone: 40 euros
[*]other living expenses including insurance etc.: approx. 700 euros

General information about the property:

[*]How large is the plot? 700 sqm
[*]What is the land value? 300 euros
[*]New building, old building (year built), type of house? existing property, year built 2010
[*] ? 1
[*]How big is the house? ( / usable area) 185 sqm + 80 sqm basement (white tank, fully habitable)
[*]House has a heat pump, solar system with hot water preparation, ventilation system, air conditioning, SmartHome

Construction or purchase costs:

[*]

[*]Incidentals (notary, court, property transfer tax, realtor): 67,050 euros
[*]Construction or purchase costs (incl. , ): 710,000 euros

Cost summary:

[*]Total costs: 777,050 euros
[*]Deductible equity: 280,000 euros
[*]Financing amount: 497,050 euros

Necessary loan information:
(if there are several components, please specify for all components; if there are several variants, please clearly distinguish them):

[*]Type of loan (e.g. annuity loan, bullet loan, etc.): annuity loan
[*]Interest rate (p.a. nominal, otherwise effective): 3.94%
[*]Fixed interest period: 10 years
[*]Initial repayment rate: 2%
[*]Monthly installment: 2458 euros
[*]Special repayments possible? (specify amount) up to 25,000 euros/year

Do you have the offer from a bank in writing or is this only a preliminary inquiry from an intermediary which does not mean anything? I would be interested in the concrete loan structure. Because for a home financing, you are currently not creditworthy for a bank without 3 payslips proving that you can bear the loan burden.

If you plan for 2 more children, the money will not be enough by a long shot? 3300€ net is not much, and as a salaried doctor in the hospital, that won't be much more in the foreseeable future, or will it?

Do you have the offer from a bank in writing or is it just a preliminary inquiry from an intermediary that does not mean anything? I would be interested in the concrete loan structure. Because for a home financing, you are currently not creditworthy for a bank without 3 payslips that can cover the loan burden.

There are several concrete offers from banks. We are 4 borrowers. Currently, of course, only my parents' income counts.