Thank you for the feedback, here are some comments on it:
the rented apartment:
was purchased in March 2013 for personal use, for professional reasons we moved within NRW in 2014. Therefore, the apartment is rented out, renovated, and quite modern. There are reserves for the apartment (see invoice above, 250 euros/month reserves for me). It is a granny flat, not a homeowners’ association or similar where I would have to coordinate with others.
I would find it stupid to sell the apartment now, I have invested quite a bit, and I would first have to recoup all the incidental purchase costs.
I have fully considered the rent, that is correct. I can offset the taxation of the rental income with craftsperson costs on the apartment, so this should roughly balance out. At least, that is what I assume, but I will see that in 2-3 months with the tax return.
additional costs for flooring/walls/kitchen:
There are partly separate, further reserves for this. I did not mention this above, I just did not want to go into it. I have set aside 10,000 euros for flooring/walls, the 8,000 euros (estimated) for the kitchen we will try to save from Person B’s salary by September 2015.
the probation period of Person B:
Person B has now integrated here, speaks 2 languages and now German quite well and works at the airport. So far everyone is satisfied with B, B receives praise and positive feedback. I assume the probation period will be passed. Nevertheless, the employer’s policy is to offer a 6-month extension after the 6-month probation and only then offer a permanent contract. Therefore, in September 2015 we are exactly at the point where the decision will be made (currently "positive") whether B will be permanently employed there. Therefore, from then on I have included the 500 euros "backup," without fooling myself.
However, I estimate that even with the main income the loan can be managed for some time until Person B has a job again – for 1,200 net something can probably be found already with 3 languages on offer and also a portion of initiative/commitment. Even if the salary is somewhat less, I have the impression that I already have a bit of a buffer (700 are leftover with the above calculation, plus 250 reserves for the rental where you could also tap into or alternatively the (immediately) mentioned private loan).
what will additionally be incurred on moving:
- door lock (150 euros including several spare keys)
- small garden gate to get from the garden to the path behind
- moving (1,000 lump sum should suffice, it is about 35 km)
about the new property:
I have read the building description and documents several times. The two bathrooms are finished (including tiles, shower, bathtub, wall tiles), the 3rd on the 2nd floor is prepared. Satellite dish is fixed and cabling is everywhere. Only the floor work (insulation for screed and then flooring on top) and wall work remain. The show house was viewed and corresponding questions asked, of course. The garden (compact, nothing big!) will be prepared accordingly. Even if necessary, not everything has to be finished immediately, the 2nd floor will hardly be needed by the two of us at the beginning and could be finished one year later if it gets tight.
The purchase price is fixed at approx. 222,000 euros including 2 parking spaces, real estate transfer tax and notary fees. No realtor fee is due, development and similar costs are of course included as well.
If it becomes really tight financially, I also have the option to get a loan of up to 25,000 euros at a fixed interest rate of 0.5%, repayment over 5 years possible. However, I want to try to avoid this.
The crux is that I want to sign in 2014 to save the increase in real estate transfer tax. Of course, we could also wait 2 years and increase equity, but until then we would continue to rent and live probably in a worse location and would have to pay the 3,000 euros more in tax.