Finances for building a house okay? Please provide an assessment

You simply cannot always count on an inheritance. What if, for example, the house has to be sold to cover nursing care costs?

At what point is it worth considering building? ... In 5 years, when our net income is at its highest?

Yes! And until then: save, save, save! But don't forget to "live"!

Auntie’s house is her retirement provision and will probably be liquidated for care at some point. How old is the good lady then? ;) (probably as old as me or my husband, and we have just built... :P)

At 21, I still lived with my parents and waited until my net salary was 1800 DM (equivalent to 1800 € today) to move into my own apartment. Just a bit off topic.

What I actually want to say is: rosy clouds at home with a boyfriend and a fresh start in a job are not a basis for settling down. A lot will happen in the next few years, at the latest when you start your further education. Then there will be new influences through new acquaintances and consequently new perspectives and needs. Look forward to it :)

Hello,

even if you can't plan your whole life, I think it's important to have goals and not just live aimlessly.

You have the goal (and hopefully a few others as well) to treat yourselves to your own little house someday. I think that's very good and commendable. You have something to work towards (advancing at work, saving up equity, etc.). But it would also be boring if you had already checked off this goal in your early twenties.

So, enjoy life a little more, see the world, and set aside a chunk of money. And in three to seven years, you'll surely reach the goal of owning a home :)

Hello,

Thanks for this overview.

Unfortunately, it is already not accurate now and will be even less so in a few years; not only because construction prices are steadily rising, but also because land is not getting any cheaper.

It’s true that we are young ...

In my opinion, with your 21 years (such a beautiful age) you are way too planned out; enjoy life! Be curious about the things still to come and don’t limit yourself without good reason ;)

Even if you don’t believe it today, assuming you’ll stay with the same employer/place for life – free yourself from that. My generation already had to change jobs and industries several times, learn anew; this will be even more likely for you and your boyfriend. Who knows, maybe your further education will open doors for you whose existence you don’t even know today?

I also considered the idea of a (cheaper) condominium ....

You should start there if it absolutely has to be property now.

Look at the market and its offerings, attend viewings and if you think you have found a good deal, go through the condominium again with an expert _before_ you even think about signing anything. However, you should first have a conversation with your trusted financer about what you and your boyfriend can shoulder with as little risk as possible.

This way you acquire property and still remain flexible, in case the big wide world calls you. If not, it’s a good cushion for a later new build ;)

Rhenish greetings

: My estimate was roughly calculated. What did I forget? I calculated with €1,500 per sqm.