Finance Single-family house - Feasibility?

  • Erstellt am 2017-10-17 12:09:36

ypg

2017-10-17 15:54:28
  • #1


That is by no means utopian, saving with 4000 net income. Then it will just take 5 years to have something.

Everyone starts somewhere, building begins with saving.

I now also have the small 9th TV-L... and at 30 I had already saved 25000 with just 6 BAT, even with rent and a car. Together with my husband, we bought a townhouse a few years later, which then became the financial foundation for our newly built house 3 years ago.

The journey is the goal!
 

MIA_SAN_MIA__

2017-10-17 16:03:43
  • #2
Nobody is claiming otherwise. We are already paying off the loan monthly and additionally saving a larger sum. I’m just saying, if you get nothing or little from your parents, reaching 100k by 30 is very difficult.
 

Musketier

2017-10-17 16:33:03
  • #3


With 400k€ including the land, things already look a bit better.

We (the three of us) currently have about €4,100 in net payouts after deducting a company car and one occupational pension. Our installment is around €850, although in the last 4 years we have taken advantage of the full special repayment of the equivalent of €680/month every year. So in total over €1,530 in installments. We are also building up some reserves for the house and other things. However, we feel that we are already living quite frugally. We don’t smoke, are not party-goers, only go out to eat occasionally, and otherwise spend very little money on clothes, phones, and other technology. Twice a year we go on vacation, but even there we make sure not to travel/fly during the high season as long as the child is not yet school-aged.
Theoretically, it is therefore doable, especially if larger salary increases can still be expected. Only no one can predict the spending behavior. For this, you should keep a household budget book for as long as possible and also plan monthly reserves for car repairs and vehicle replacement purchases, for other replacements, and also for vacations.
The only thing to bridge then is parental leave, and the question is whether both partners can work full-time again afterwards.

Maybe also consider whether a few square meters less would also be sufficient.
As an example:
When building the house, we planned a guest room, for example. Before building, we thought: "Finally a guest room," so friends, acquaintances, and relatives, many of whom live within a radius of 50-100 km, can stay with us for birthdays and celebrations in the future and don’t have to drive back.
After 4 years, I can still count the overnight stays on both hands.
The old folks still want to be in their own bed in the evening, so they prefer to go home rather than stay overnight. If you multiply the 16m² by €1,500, the guest room has cost us around €24k. Generously subtracting 6m² of created storage space, it’s still €15k. At 2 overnight stays/year and under €50 per room/night in the next guesthouse, I could rent a guesthouse for my overnight guests for the next 150 years.
By the way, we also bought a pull-out couch in case more than 2 people want to stay overnight. We could have completely saved these additional costs.
 

Zaba12

2017-10-17 16:50:59
  • #4


A company car with a fuel card wouldn’t be comparable here now, even though the net salary is the same.

May I ask how high your loan was?
 

stefanc84

2017-10-17 16:52:41
  • #5
We obviously do not know whether the OP has studied or has been earning money since the age of 16. With €4,000 net, a couple without children can actually manage to save €2,000 per month => 24 in a year, 240 in 10 years. Of course, you have to be able to save. At least for us, it is very possible to get along VERY WELL with monthly expenses of just over €2,000, despite a large rental apartment, 2 cars (and a tech-savvy husband ). Otherwise, we would not have been able to afford to build a house, as no inheritance or gift was available. We just drive old cars, go on vacation in a tent (out of love for camping, not (only) because of money), spend weekends rather at home with friends than on the party mile, and also often buy used items. None of this really bothers us; we live very well.

Therefore, I have another objection to the plan. If the €4,000 net has been available for a while and only €30k equity has been saved, this could mean that the OP has difficulty living more frugally.

@TE: I would not do it in your place. Maybe try to save until at least €100k is accumulated.
 

Musketier

2017-10-17 17:13:14
  • #6


That is why I add it, otherwise it distorts in one direction or the other.


For the conditions here in the forum, a cute €215K. Still way too much for me personally.
 

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