schulan
2020-09-13 18:15:13
- #1
Hello everyone
My partner and I are closer to buying a house than ever before. However, the financing still gives (especially me) a bit of a stomach ache and I am unsure whether we are taking on too much here.
What is your opinion regarding the project below?
Due to a necessary subdivision of the plot, there are certainly further risks for us but possibly also opportunities.
In summary, it can perhaps be put like this:
Single-family house in prefabricated construction on a small but expensive hillside plot in the Stuttgart area.
General information about you:
Income and asset situation:
Expense situation:
Housing costs:
Mobility costs:
Insurance costs + retirement provision + disability insurance + etc., jointly
Living expenses, jointly:
Income and expense totals:
General information about the property:
Construction or purchase costs:
Cost summary:
My partner and I are closer to buying a house than ever before. However, the financing still gives (especially me) a bit of a stomach ache and I am unsure whether we are taking on too much here.
What is your opinion regarding the project below?
Due to a necessary subdivision of the plot, there are certainly further risks for us but possibly also opportunities.
In summary, it can perhaps be put like this:
Single-family house in prefabricated construction on a small but expensive hillside plot in the Stuttgart area.
General information about you:
[*]Who are you? Partner + me
[*]How old are you? Both 30 years old
[*]Do you have children? No
[*]Are children planned? Yes, 2-3
[*]What do you do for a living? Development engineer, controller
[*]Are you employed? Both employed
[*]How many hours do you work? Both 40h/week
Income and asset situation:
[*]What income do you have (gross/net)? approx. 7,800€ net
[*]How much child benefit do you receive? 0€
[*]Other transfer payments such as parental allowance, sick pay, etc...? 0€
[*]How much equity do you have? approx. 275k€
[*]How much equity do you want to invest in the house project? Unclear... due to buffer and plot subdivision and corresponding financing, possibly 200k€
Expense situation:
Housing costs:
[*]current cold rent, 1100€
[*]current warm rent 1350€
[*]household ancillary costs including food and other bills (electricity, internet, waste): 450€
Mobility costs:
[*]Leasing 356€
[*]Insurance 53€
[*]Taxes 19€
[*]Fuel 33€
[*]Repairs 135€
[*]Second car
[*]Insurance 41€
[*]Taxes 13€
[*]Fuel 25€
[*]Repairs 25€
Insurance costs + retirement provision + disability insurance + etc., jointly
[*]Together including all: 1200€
[*]House savings: 600€
Living expenses, jointly:
[*]All ancillary costs, shopping, hobbies, etc.: 1000€ (estimated)
Income and expense totals:
[*]Total income: 7800
[*]Total expenses: 5600
[*]Balance: 2200
[*]of which sum cold rent and dispensable savings (e.g. savings rate for house): Rent 1200 (incl. parking space), 300€ BSPV, 300€ savings rate
General information about the property:
[*]How large is the plot? 650m2 before subdivision, afterwards 335m2, 315m2
[*]How high is the plot value? 550€/sqm
[*]New build, old building (year built), type of house? New build, single-family house 1+basement, prefab house Bien-Zenker including basement turnkey
[*]Garages? Double garage
[*]How big is the house? (living space / usable space) 180sqm
[*]A granny flat in the basement is planned for commuters.
Construction or purchase costs:
[*]Total costs 945,000€ (incl. assumptions)
[*]Assumptions:
[*]Plot costs after subdivision including ancillary costs 374,000€ (before subdivision 660,000€ without ancillary costs)
[*]Buffer (sample selection, furniture, kitchen, general): 50,000€
[*]Additional construction costs: 45,000€
[*]Cost of house (currently estimated): 520,000€ (incl. basement, solar, turnkey)
Cost summary:
[*]Total costs: 945,000
[*]Deductible equity 20,000
[*]Financing amount 745,000