Feasibility of financing for a 155 sqm single-family house

  • Erstellt am 2021-10-28 08:46:21

exto1791

2021-10-28 10:50:25
  • #1
€1,400 repayment on the salaries and the planned 2-3 children in the future I actually see as "not so easy."

How does the salary look? Is there room for improvement, especially for you? How about your wife? Can she start again at 50%? How do you imagine the transition with children? Parental leave of 1 or 2 years? It’s best to also calculate what happens if one salary completely disappears and then only parental allowance is received.

I almost suspect that the loan amount with CURRENTLY calculated salary and possibly one child in 1-2 years is too much.

I assume you earn about €2,500 net and your wife about €2,000?

The €2,500 remains and your wife then receives about €1,000 net during the time of 50% employment/parental allowance etc. That way you would have €3,500 on the side - probably also for a very long time, since you will certainly want to have another child a few years later (according to your description).

Therefore, you have to calculate with this income for quite a long time.

€3,500 net income
€219 child benefit

--> so you have about €3,700 available (just roughly estimated) - as I said, I don’t know how much you earn of the €4,500.

Really calculate this HONESTLY together and see what is left at the end of the month - only then can you really check whether the sum or the repayment is feasible for you or not.
 

CC35BS38

2021-10-28 10:53:33
  • #2
Currently possible, good equity, if children come it will be tight. Your wife and you will not be able to stay at home for long. It would also be interesting to know how your income is divided.
 

Seppl's Häusle

2021-10-28 10:58:32
  • #3
You have not taken any funding from KFW into account in your calculation. Since 01.07., you can also apply for only the repayment subsidy if the interest or repayment rate from private banks seems better for you. You can apply for the repayment subsidy from KfW beforehand if no contract has been signed yet.
 

Tom1978

2021-10-28 11:11:50
  • #4


KfW funding is also not considered because it only comes after the house construction. Therefore, you have to finance the entire amount beforehand. And if it goes badly, especially with a lot of own work, the KfW funding may not come, and then you are out of luck...
 

ypg

2021-10-28 12:41:20
  • #5




I consider the living expenses on the one hand unrealistic, on the other hand not comprehensible. Thirdly, costs related to planned acquisitions are missing. This also includes children.

If, for example, a couple saves 50€ per month for vacation, then there is no need for the mentioned travel insurance!

Car / mobility costs / passenger car:
- If a car is acquired, then calculate approx. 500€ operating costs including insurance and taxes.

Housing costs / additional costs including property tax and insurance:
- flat rate 3€/sqm living space... makes approx. 450€ for 155 sqm rounded

Living expenses:
I have attached a current overview from a savings bank.
If you deduct the housing and energy costs mentioned above, mobility and frugality,
you are roughly at 2000€ flat rate. Maybe less, maybe more... You need to reconsider the items concretely for yourselves.

What I want to point out:
These are not just expenses of 1,550€, but

2,950€

This reverses expenses / balance in this rough calculation
=> 1,550€ remain for financing the construction project



[ATTACH alt="Screenshot 2021-10-28 at 12.18.22.png" type="full"]66500[/ATTACH]




Far too little: Development costs are connection fees that utility companies charge you for the connection of water, electricity, etc.

I would estimate ancillary building costs at 30,000 - 40,000 including connection costs,
paving of driveway, splash guard and terrace at 20,000.
But no blade of grass has been sown yet; for this and larger garden objects, plan at least 5,000€ for the rough work, plus another 5,000€ for green fencing and planting.
 

Hyponex

2021-10-28 14:24:04
  • #6
Meal time,

income / financing should be fine.

since you have your own forest, remember to also install a larger buffer tank and a water-guided fireplace stove, then heating costs should be close to zero...

so the additional costs will be cheaper than planned by the banks.

even if you plan to have children, the financing should be chosen flexibly. (adjust installments down when you have children, increase them again when both work)

roughly, I estimate total costs of about €538,000 (the development costs are really calculated narrowly, even if you do a lot yourselves, the water connection, telephone, electricity will be laid by the providers, even if you dig the trench, and they want money for it!)

financing:
is probably around 75%, and I find the 1.53% effective for 20 years still too high. even though interest rates have risen everywhere, you should be able to get it under 1.40%. (I even think around 1.30% would be realistic if you handle it well!)

at €400,000 over 20 years, 0.10% is about €5,000, 0.20% already €10,000 that could be saved.
(just contact me... google the name or click the ad here...)
 

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