Stagenberger
2018-02-18 15:51:19
- #1
Thank you very much for all the input. When I started the thread, I did not expect so much response after a relatively short time.
I also know people who have somewhat miscalculated their financing for the house and now have to/may do additional jobs in the evenings or on weekends.
I myself have now kept a disciplined Excel household budget for several years and have really written down every little detail in order to get a truly realistic picture of my saving performance, neither living stingily nor extravagantly.
With a 2% repayment, the expected loan installment would amount to 40% of the household income, with 1% 30%, and with 1.5% 35%. With 3% it would be 52%.
My main bank says that the loan installment should never be more than 1/3 of the net income; on the internet you can sometimes find 40% as a maximum guideline.
My saving rate over 5 years was between 30% and 60%. Sometimes I could easily manage a repayment of 3% or more, at other times 2% would have been tight.
From this consideration and taking house maintenance costs into account, I come to the following conclusion (hence the thread):
If no major "construction sites" arise, I can theoretically manage repayments of up to 3%. But as soon as more expenses come together in a short time (car, legal disputes which the legal protection insurance does not cover, support for needy family members, higher travel costs due to a transfer), such a high rate might then be difficult to handle.
Therefore, my thought was: low rate, less pressure.
I also know people who have somewhat miscalculated their financing for the house and now have to/may do additional jobs in the evenings or on weekends.
I myself have now kept a disciplined Excel household budget for several years and have really written down every little detail in order to get a truly realistic picture of my saving performance, neither living stingily nor extravagantly.
With a 2% repayment, the expected loan installment would amount to 40% of the household income, with 1% 30%, and with 1.5% 35%. With 3% it would be 52%.
My main bank says that the loan installment should never be more than 1/3 of the net income; on the internet you can sometimes find 40% as a maximum guideline.
My saving rate over 5 years was between 30% and 60%. Sometimes I could easily manage a repayment of 3% or more, at other times 2% would have been tight.
From this consideration and taking house maintenance costs into account, I come to the following conclusion (hence the thread):
If no major "construction sites" arise, I can theoretically manage repayments of up to 3%. But as soon as more expenses come together in a short time (car, legal disputes which the legal protection insurance does not cover, support for needy family members, higher travel costs due to a transfer), such a high rate might then be difficult to handle.
Therefore, my thought was: low rate, less pressure.