Zaba12
2017-10-17 13:25:46
- #1
I believe no one can give you a general answer like that.
Some have no problem paying off the house over 35 years, others want a full repayment over 20 years or less. Some manage with €1000 living expenses for four people, others need €2000 for two.
Since we don’t know you and you provide too little information. What are your spending habits and cold rent, savings rate, planned number of children? How do you come up with the house purchase sum? What fixed interest rate period do you want? What burden can you handle including the monthly additional costs of about €400, etc.? An equity ratio of 7.5% with that amount is also not great. Depending on where you live, €5-8k for incidental purchase costs including land register entry with a mortgage of €400k is already gone. So you really only have €22-25k in equity.
How do you come to use your current income as a basis for an assessment like "Can we manage this"?
If children are planned, there are not two full-time incomes. If two children follow one after the other, that situation lasts for about 2-4 years. What about part-time work after that? Spending habits will also change. Depending on where you live, daycare can cost €400 per child per month.
Make an appointment with the bank and get advice, then you will get initial feedback regarding the monthly burden.
Some have no problem paying off the house over 35 years, others want a full repayment over 20 years or less. Some manage with €1000 living expenses for four people, others need €2000 for two.
Since we don’t know you and you provide too little information. What are your spending habits and cold rent, savings rate, planned number of children? How do you come up with the house purchase sum? What fixed interest rate period do you want? What burden can you handle including the monthly additional costs of about €400, etc.? An equity ratio of 7.5% with that amount is also not great. Depending on where you live, €5-8k for incidental purchase costs including land register entry with a mortgage of €400k is already gone. So you really only have €22-25k in equity.
How do you come to use your current income as a basis for an assessment like "Can we manage this"?
If children are planned, there are not two full-time incomes. If two children follow one after the other, that situation lasts for about 2-4 years. What about part-time work after that? Spending habits will also change. Depending on where you live, daycare can cost €400 per child per month.
Make an appointment with the bank and get advice, then you will get initial feedback regarding the monthly burden.