Financing option - Assessment - New construction

Hello

so kick out KFW-124, because the 0.80% is so unattractive!

keep the KfW-55, there are 2 advantages:
- repayment grant of 18,000 EUR (so you pay much less including interest than you receive! so effectively negative interest!)
- in most cooperatives, KfW is seen as equity in the conditioning, which lowers the interest rate for the main financing!

so if the plot/house construction is at 680,000 EUR (excluding incidental costs) and 600,000 EUR needs to be financed, I end up with just under 1% at the MHB (1.01% is shown to me today!!!!) This is because you have a 1930€ installment here, and MHB is paid off in 30 years!!!

the 600k with probably 5.5k€ net (6k and deduction for private health insurance) is already sporty, but I actually see it relaxed because:
- children probably can only be planned in 3-5 years, i.e. still potential for increase
- marriage + tax class change + parental allowance, in total you then have maybe 1000 EUR less per month during the phase, so still manageable with a 1900€ installment

at the Münchener Hypothekenbank you can switch the repayment between 1% and 5%.
with the 1900€ at 600k I am currently at over 2.8% repayment! meaning you are done after 30 years if you keep the repayment like this!!!
So if it ever gets TIGHT, everything is doable!

long interest rate security, so basically for almost everything!
Risk only for KfW after 10 years = 66,000€ after 10 years, and even if the interest rates go up to 4%, then you do the repayment at 2% = installment at 330€ (currently at 380€)

thus you can calmly plan the next 30 years with max. 1930 EUR

PS. if the application has not yet been submitted at Münchener Hypothekenbank, then make sure you get it for 1.00%!!!!
otherwise contact me!

PS2. if you take KfW-124 + KfW-55, then the 380,000€ at 0.90% for 30 years would be feasible!
but the 0.1% advantage, for that after 10 years higher remaining debt (risk) I would not recommend!

About us: He, 28 years old, employed, net income: 3000€ She, 28 years old, civil servant, net income: 3000€

Which tax class do you have? I find it personally important, as many couples are in 3/5 and sometimes have to pay money back at the end of the year. While others are in 4/4 and might even get a few thousand euros back at the end of the year. A more meaningful figure would almost be the indication of a joint "year-end net income." But in your case, it probably doesn't matter much, since you both earn similarly – except for the higher taxation of the "non-civil servant."

But probably doesn't make much difference in your case since you both earn similarly – except for the higher taxation of the "non-civil servant"

I am very curious about the explanation why the "non-civil servant" is taxed more than the civil servant. You certainly mean the social contributions. That should not go unmentioned in a forum where many people read along, otherwise some people might really think that civil servants pay less taxes. That is of course complete nonsense.

Best regards

I am very curious about the explanation why the "non-civil servant" is more TAXED than the civil servant. You surely mean the social contributions. In a forum where many people are reading, this should not go unmentioned; otherwise some people might really think that civil servants pay less taxes. That is, of course, complete nonsense.

Regards

I also believe that it means that a "non-civil servant" must have a higher gross income to reach the same net income, thus effectively paying more taxes.

That means if a "civil servant" earns 48,000 gross per year, they have about €3,000 net per month (almost €12,000 taxes, NRW with church tax).

An employee must already have 60,000 gross to get €3,000 net. They then pay €15,000 in taxes (so more!!!) and social security contributions over €6,000 + their own share of private health insurance, which is definitely higher than that of a civil servant!!!

And then there is the pension question: for employees, it depends on what they have paid in over their whole professional life... for civil servants, it depends on the last salary step before retirement... that’s why all civil servants want to be upgraded 1-2 years before retirement ))

BUT now employees should not complain about civil servants... because as we see, civil servants with a gross of 48,000€ get the same as employees with 60,000€ gross... I am self-employed, meaning I have to carry both the employer and employee shares for private health insurance/pension etc. That means if I want to get €3,000 net per month and want the same pension claims etc., then my gross income per year has to be around €75,000-80,000. Then I can provide separately for private health insurance/pension, unemployment insurance etc., and at the end of the day I only have €3,000 net left. And in doing so, I have not necessarily provided more than the employee!

Guude,

you don't have to explain that to me. I myself am from the dark side of the tax system . But there are really enough people who believe that as a civil servant you don't pay taxes . You have to deal with that on a weekly basis. The opinion is generally not that rare, and if you look at how absurd that would be in Germany, you can still speak of a fairly widespread opinion or assumption.

Regards

Hey

in the END we all pay taxes in Germany, as soon as you work or let your capital work for you (whether rental income, capital gains, etc.)

the paradox is that starting from 60,000 gross (single, tax class 1) the top tax rate begins (so 42% + solidarity surcharge + possibly church tax) and in the end it's maybe only 3,000€ net... and in today's world (prices for living space etc.) that's not really much...

and then comes the majority (90% earn much less than the sum above...) and you wonder how they can afford this or that... and they also pay taxes (even if less) and at the same time they should still save something for private retirement to get by later...

well, that's a completely different topic that has no place here... so Off Topic...