Denis L.
2018-06-27 07:26:54
- #1
Hello everyone,
I am just about to sign the contract with a prefabricated house provider.
The key data:
Land already available (received as a gift) including my parents' house (transferred without any right of residence to me). According to the probate court, a value of 170,000 EUR. I want to build my prefabricated house directly on this land.
I have already completed the civil engineering work to a large extent myself. The house price including the base slab is approximately 300,000 EUR.
I have 70,000 EUR in equity. Therefore, I would have to finance 230,000 EUR.
My girlfriend (not married yet, but planned; in the future 2-3 children will be added) currently earns about 2,000 EUR net.
I myself (finished my studies just 3 years ago, work as a sales engineer in the automotive industry, IG Metall) currently earn 2,800 EUR net (occupational disability insurance already deducted, increase to over 3,000 EUR net by 01.01.2020). Ergo, we currently have 4,800 EUR per month available. In the early years of the children, I would still benefit from the better tax class.
I am still wavering about the financing.
1. Repay 230,000 EUR in 15 years with 1,100 EUR monthly and repay more than 2,000 EUR through special repayments, and if necessary, follow-up financing.
2. Split into two loans immediately (15 and 20 years) and secure the safety due to the good interest rate situation.
Do you think the 1,100 EUR plus special repayments are realistic?
Hello everyone,
I am just about to sign the contract with a prefabricated house provider.
The key data:
Land already available (received as a gift) including my parents' house (transferred without any right of residence to me). According to the probate court, a value of 170,000 EUR. I want to build my prefabricated house directly on this land.
I have already completed the civil engineering work to a large extent myself. The house price including the base slab is approximately 300,000 EUR.
I have 70,000 EUR in equity. Therefore, I would have to finance 230,000 EUR.
My girlfriend (not married yet, but planned; in the future 2-3 children will be added) currently earns about 2,000 EUR net.
I myself (finished my studies just 3 years ago, work as a sales engineer in the automotive industry, IG Metall) currently earn 2,800 EUR net (occupational disability insurance already deducted, increase to over 3,000 EUR net by 01.01.2020). Ergo, we currently have 4,800 EUR per month available. In the early years of the children, I would still benefit from the better tax class.
I am still wavering about the financing.
1. Repay 230,000 EUR in 15 years with 1,100 EUR monthly and repay more than 2,000 EUR through special repayments, and if necessary, follow-up financing.
2. Split into two loans immediately (15 and 20 years) and secure the safety due to the good interest rate situation.
Do you think the 1,100 EUR plus special repayments are realistic?
I assume that you will eventually reach at least tax class 12. With that, you can afford 1,100 euros. I would want to repay faster. But without your girlfriend, you will get significantly worse conditions.