Financing plan too unrealistic?

  • Erstellt am 2022-05-19 19:20:41

Myrna_Loy

2022-05-19 20:48:34
  • #1
That would be too tight for me. If you don’t have family nearby who can occasionally look after the children over the next 15 years, then I don’t see full-time employment for both. And with a permanent 1.5 incomes plus the additional costs of growing children, that is recklessly financed in my opinion. This month I paid over 600 euros for my two boys (kindergarten and primary school age). Photos at kindergarten, shoes, summer pants, sports club, swimming course, holiday activities booked, new lunchbox and water bottle (lost)… I‘m bleeding money. I also remember with the first baby thinking, “oh, a child is cheap. Child benefit is more than enough.” We got almost everything as gifts or bought cheaply second-hand. But that only lasted the first 3 years, since then the children really cost money.
 

driver55

2022-05-19 20:49:55
  • #2
That depends on the interest rate! For example, with 5% interest, 1.5% repayment is okay (about 35 years), but with 1% interest, of course not (about 50 years).
 

driver55

2022-05-19 20:53:39
  • #3
Plan there about 50-80 k€ (ancillary construction costs, outdoor facilities, and „it will anyway be more expensive than planned“) more for the home construction project, you don't want to live on a construction site for years. And then it gets very tight!
 

Sebastian1986

2022-05-19 21:43:58
  • #4
Hi, yes, I really searched and worked on this for quite a while here as well. In the end, it was our house bank (Sparkasse Mittelthüringen) that made us the offer. 1800 was my absolute pain threshold. Above that I would only have gut feelings. My personal experiences with the brokers have since soured. At first, I really found Dr. Klein and Interhyp good, but they didn’t really do any financial advice for us, they only looked at how to get the most out of us. There were some really bizarre things ... for example, an annuity loan with a building society contract ... that would have cost us 1.9T for the first 20 years and then 2.4T for another 20 years.
 

Sebastian1986

2022-05-19 21:45:10
  • #5
Hi, yes, I really searched and worked on this for quite a while as well. In the end, it was our house bank (Sparkasse Mittelthüringen) that made us the offer. 1800 was my absolute pain limit. Above that, I would only have had a bad feeling. My personal experience with brokers has since been clouded. At first, I really liked Dr. Klein and Interhyp, but they actually didn’t provide us with financial advice, they just looked at how to get as much as possible out of us. There were some really bizarre things involved... for example, an annuity loan with a home savings contract... that would have cost us 1.9K for the first 20 years and then 2.4K for another 20 years.
 

Sebastian1986

2022-05-19 21:48:10
  • #6

Yes, the costs for the children also weigh on me. Can you describe a bit more closely how much children cost on average per month throughout the different stages of life?

Financially, it’s a tight matter for me. But if I don’t build now, I will never build again. Personally, I’m also counting on one or two salary increases for me and my wife and think that the first years will be tough but hopefully will stabilize afterwards.
 

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