Financing | Single-family house | Feasibility | 2nd rank

Thanks for your feedback: - our income was not always that high. - for almost 5 years we paid in much more than €600 and now that the single-family house is coming up, we freshly reduced the rate to €600 - we currently have €1000-2000 left monthly and are saving more and more each month. Your recommendation is correct. What is problematic in a metropolitan area, however, is that we have been searching for 7 years but never felt like we got anything. The market seemed bought up (in our desired area). Suddenly an opportunity arose and we received an offer in our dream location at a very, very good price -> Therefore we are not as well prepared as recommended. But I am not going to miss the chance. Expenses have been at a minimum for some time and we are looking forward to the house. fresh 30

Something doesn't add up. The apartment cost 160,000 euros and you have paid in much more than 600 euros for almost five years and still have an outstanding debt of 130,000 euros on the [ETW]. Um, I don't mean to sound stupid, but what does "much more" mean to you? If you haven't financed the apartment at a 4% loan interest rate, there should actually be a significantly lower remaining balance today.

Since when have you had 1000 - 2000 euros left over monthly (I find the range very wide and rough)? Your equity of 30,000 euros contradicts the idea that you have been doing this for a longer time.

Start keeping a household budget and become aware of your expenses. Just the fact that you have between 1000 and 2000 euros left monthly (a 1000 euro difference) shows that your monthly expenses fluctuate strongly. From my point of view, this indicates that you have very high irregular consumer expenses.

How high has your monthly housing cost been so far?

- The interest rate was indeed an uncomfortable 2.7%
- For about 1.5 years
- Of course, we keep a household budget

The reason why the savings are not as high as they actually should be is basically the endless search and the resulting hopelessness. At some point, we stopped actively searching and saving intensively because we gave up hope of ever finding something suitable.

- The interest rate was indeed an uncomfortable 2.7% - For about 1.5 years - Of course, we keep a household budget The reason why the savings are not as high as they should be is basically the eternal search and the resulting hopelessness. At some point, we stopped actively looking and saving intensively because we had given up hope of ever finding something suitable.

Something still doesn’t add up. I briefly ran through the apartment data (interest, purchase price, remaining debt, regular payment 600 euros). Are you sure the remaining debt is 130,000 euros and not lower? Otherwise, you would have only paid down an additional 12,000 euros in those five years you mentioned. That would be just 200 euros per month… How do you explain the large fluctuations in what you have left over monthly? In the last 1.5 years, you also didn’t really save consistently. If I take the average of 1,000 to 2,000 euros monthly at 1,500 euros, then 27,000 euros would have been saved in that time, and you started saving with 5,000 euros in cash and had already been searching for five years… What are your current housing expenses? How much do you pay cold rent, and how high are your additional costs?

As said, we were not really consistent in saving. Currently, we have about €800 in costs for our rented apartment including heating.

Not that you necessarily have to explain this, but the thread is really a bit unstructured, so here is the list from the pinned post.
You say you keep a household budget, then you have to be able to write it down flawlessly. And if it is only for you, you don’t have to post it here.

General about you:

[*]Who are you?
[*]2 adults
[*]How old are you?
[*]30
[*]Are there children?
[*]2
[*]Are (more) children planned?
[*]
[*]What do you do professionally?
[*]
[*]Are you employed, self-employed, retired, housewife, househusband etc...?
[*]employed, permanent contract
[*]How many hours do you work?
[*]

[B]Income and asset situation:[/B]

[*]What income do you have (net)?
[*]3200€, 1800€ since
[*]How much child benefit do you get?
[*]400€
[*]Additional income
[*]600€ rent ETW, 600€ variable shift allowances
[*]How much equity do you have?
[*]30,000€ - 33,000€ private loan = -3,000€
[*]How much equity do you want to put into the house project?
[*]0€

[B]Expense situation:[/B]
Expenses that are already included in other positions can of course be left out. This list is not final and can be expanded as desired, but also summarized. Please make sure to state all costs monthly, even if these only occur annually!
[B]Housing costs:[/B]

[*]current cold rent
[*]
[*]current warm rent
[*]800€
[*]electricity
[*]
[*]gas
[*]
[*]water, sewage, garbage fees, street cleaning
[*]
[*]telephone, internet, mobile phone
[*]

[B]Mobility costs:[/B]

[*]monthly ticket for bus and train (also for the children!)
[*]
[*]car loan (or savings rate for a new car)
[*]
[*]insurance
[*]
[*]taxes
[*]
[*]fuel
[*]
[*]repairs
[*]
[*]other
[*]
[*]Is there a second car, motorcycle, scooter? Please list all items again!
[*]

[B]Insurance costs:[/B]

[*]private health insurance (also supplemental health insurance, daily sickness allowance etc.)
[*]
[*]liability insurance (also pets)
[*]
[*]capital or term life insurance
[*]
[*]pension insurance (also Riester, Rürup, etc...)
[*]
[*]disability insurance
[*]
[*]accident insurance
[*]
[*]household insurance
[*]
[*]legal protection insurance
[*]
[*]other insurances (e.g. travel insurance, funeral insurance)
[*]

[B]Living expenses:[/B]

[*]groceries
[*]
[*]restaurant expenses
[*]
[*]care/drugstore
[*]
[*]pets (food, vet, medicine, stable costs)
[*]
[*]medications
[*]
[*]clothing
[*]
[*]furniture
[*]
[*]daycare/school fees (and meal money)
[*]
[*]tutoring
[*]
[*]school supplies and books
[*]
[*]club fees/gym
[*]
[*]babysitter
[*]
[*]toys
[*]
[*]cleaning
[*]
[*]TV/video/audio/CDs/DVDs
[*]
[*]tickets (football, cinema, concerts etc...)
[*]
[*]donations
[*]
[*]other
[*]

[B]Savings contributions:[/B]

[*]vacation
[*]
[*]house
[*]
[*]retirement provision
[*]
[*]hobbies/gifts
[*]
[*]other
[*]

[B]Other expenses:[/B]

[*]maintenance payments?
[*]
[*]loans?
[*]550€ private
[*]600€ ETW
[*]
[*]other?
[*]
[*]Was anything forgotten? Then please specify here at the latest!
[*]

[B]Total income and expenses:[/B]

[*]total income
[*]6,000€ + 600€ variable
[*]total expenses
[*]1150€ loans (remaining debt: 163,000€)
[*]+ x
[*]balance
[*]
[*]of which sum cold rent and dispensable savings contributions (e.g. savings rate for house)