Financing - your opinion? Realistic?

When I calculate something like that for people, I’m not doing it to show off what a great financing I have,

In the other thread you write that you pay about €1100/month for the first 10 years and €850/month for the remaining 8 years. When I roughly calculate that in my head, you never come to total costs of €250k. Maybe you should do the math properly first before you calculate anything for anyone. And be honest, the €130k equity isn’t self-saved, is it?

In the Postbank study, we still land in the +area in terms of development.

With all these considerations, one really wonders how others manage it. Maybe they are just less cautious.

I am curious how it will turn out for us. Thanks in any case for all the comments.

I understand your concerns, I am always very careful too. But if you take a look at how much rent you have paid so far and don't throw money out of the window recklessly otherwise, it should work out well. Yes, children cost money, but you don't have to spend a fortune, especially in the first years you can get by quite cheaply.

In the other thread you write that you pay about 1100 €/month for the first 10 years and 850 €/month for the remaining 8 years. If I do a quick mental calculation, you never come to total costs of 250k €. Maybe you should calculate properly first before showing anyone something.
And be honest, the 130k equity capital wasn’t saved by yourself, right?

Okay, of course you’re right, something really doesn’t add up. I checked again and here I list my costs and financing correctly once more:
Costs for the plot: approx. 63,000€
Costs for the house: 267,000€
Costs for the exterior facilities: 19,000€
Everything is included in these costs. For the plot, all incidental costs including surveying, for the house all fixtures, even including insect screens, lamps and furniture, kitchen, floors, smoke detectors...
For the exterior facilities (all done by ourselves with professional help) everything is included, from the roll lawn, paving, terrace covering, humus, hedge plants, equipment rental, irrigation system, awning costing over 3500€)
This results in a total cost as already mentioned of approx. 350,000€.

The financing is based on many pillars:
1. Loan from the building society 120,000€ which will be redeemed by the building saver after 10 years. Interest rate 0.7%, so 70€ per month, savings in parallel building saver 440€ per month. After 10 years about 50,000€ saved and still 70,000€ loan with 2.95% interest to repay
2. Bank loan 100,000€ with interest rate 1.45% with max. 9,000€ special repayment possible per year (done once), possibly calculation error before, as not taken into account as equity. Monthly payment here is 377€.
3. Existing building saver over 40K is funded monthly with 100€ + 40€ VWL (VWL excluded in my payment calculation as it is already deducted from salary). The building saver will be used to repay part of the remaining bank loan after 10 years. Savings then about 24K, so 16K loan with 1.95% loan interest (only used if interest rates are higher, otherwise only the credit balance is withdrawn)
4. Another already running building saver funded with 100€ per month from which only the balance is withdrawn, as the loan interest rate is worse. When the fixed bank loan interest period ends, about 16K will be in it.
5. Cash from stocks, building savers and the kitchen payment by father-in-law approx. 100,000€

The remaining debt of the bank loan after 10 years without further special repayments is approx. 61,000€. From the building savers in points 3 and 4 there remains a delta of approx. 5,400€ which I do not see as a real problem. It can probably be paid in cash if necessary or specially repaid earlier.
Thus, for the first 10 years: 70€+440€+377€+100€+100€ = 1087€
After that it looks like this: repayment of building saver loan 500€ and repayment of 40K building saver with monthly 360€, which is then paid off after about 3.5 years and then is added to the other loan. Thus, only 860€ to be paid monthly, which I can still adjust upwards as I like. If I repay even more on the building saver loan, I’ll be done even faster...

You see, the construction is relatively complicated, which is why I only did a rough calculation in the other thread. But of course, I don’t like being accused of not being able to calculate, especially since I wrote a complex Excel program for my case in which I shifted the parameters back and forth for days to get the maximum, which I think turned out quite well in the end and saved a lot of money.

According to my program, I will have paid a little over 31,000€ in interest at the end. For the building society loan about 8,400€ and the later loan about 11,500€, for the bank loan about 10,700€, for the 40K building saver about 600€. At the same time, I also earn about 3,000€ in interest through all the building savers, which I can even offset.

So dear Mr. Bierkuh, I hope you can still follow all of this...

In the Postbank study, we still end up in the positive range when it comes to the development.

With all these considerations, one actually wonders how others manage it. Maybe they are just less cautious.

I am curious to see how it will turn out for us. Thanks anyway for all the comments.

Please don’t misunderstand me, maybe I’m also way too cautious, but I would always prefer to be certain that I have no remaining debt at the end of the term, especially since, as mentioned, repairs and renovations will be due again by then. You will then be 55 years old. If the house is fully paid off by then, you can first pop a champagne and look forward to a great future. Again, the comparison of what you would pay for the exact same house if you increase the installment to €1350 (each assuming 2.05% interest). Then you would have paid €405,000 for the loan + €22,000 equity + €5,000 remaining debt = €432,000 for the same house, for which, in the other case, you paid €339,000 for the loan + €22,000 equity = €361,000 and €90,000 remaining debt; even if you could pay the €90,000 all at once, that makes €451,000. But since this will hardly be the case, more loan interest at an unknown rate will be added. That is already a difference of €19,000 without additional interest. You could then, for example, nicely invest that again in a new heating system. And in the first case, you can more easily get rid of the €5,000 remaining debt through one or another smaller prepayment than the €90,000 in case 2.

These €220 more per month should actually still be somehow possible with your salary... Personally, I would prefer that by far.

You would probably manage it differently somehow; I have seen worse financing examples, but I would really be too stingy and too afraid.

I hope I can at least get one or the other to think about what else might still be changed to maximize the financing or to really reconsider whether building is the right choice for oneself.

In any case, I wish you all the best, you are definitely doing the right thing.

A very reasonable consideration! Karsten