I find the reserves for the rental houses to be low. Costs for children (if the kindergarten is free for you) are very high. Maybe that balances out. With the rental houses in the background and a possible sale if things get tight or life doesn’t develop as planned, I find the financing amount manageable. Are the rental houses not encumbered with loans? Any open land charges?
Not encumbered, my girlfriend’s father was gifted them 15 years ago (or rather at that time already each 1/3 to mother-in-law, father-in-law, and girlfriend). He himself passed away 2 years ago and since then both houses belong to my girlfriend, who for the sake of balancing with her mother initially waived her 25% of the parental home. At the moment, it is simply gifted money. Both houses have relatively new heating systems (2012), and the house with the low rent had its roof redone in 2008. In the city house there is a shared apartment without high demands.
We just don’t yet know what we will do when the old lady moves out of the house in the countryside. Certainly, windows will need replacing (built in ’69) and bathrooms at least spruced up. That will probably cost a lot, which we might not have readily available if it happens very soon. On the other hand, we have exactly the €40,000 buffer for such things, which we didn’t include in the financing...
You haven’t factored in the additional costs, right? The €2000 balance goes completely towards the installment.
Is gas included in the warm rent? Even if not, €150 + 76 + 50 = €280 seems very low for a 180 sqm older house.
Gas and electricity are not included in the warm rent. The house will probably be closer to 150 sqm than 180. Last week we viewed a house where the additional costs came to €320 (concrete information on property tax, sewage, waste disposal, etc. was available). So it should fit reasonably well, but maybe one could add another €100 just in case.
With that salary and especially the extremely high equity (including property), that works quite easily. In the "worst case" (actually a totally inappropriate term given your financial situation) you can always sell a property and be debt-free then.
Yes, that’s what I think too. Or just reduce the installment by €200 until the next salary raise. Or simply get married, that also gives another €2-3000 tax advantage in the current situation :)