From 0 to 100 in 3 years realistic? | Building obligation

Of course, the €750,000 is only realistic if we manage to gather the targeted €200,000 equity in 3 years.

You don’t have 3 years but only 1.5 if you want to realistically meet the building obligation. Construction companies all have enough orders and don’t start that quickly. Accordingly, you have to reckon with significantly less equity.

Basically, there are two rules of thumb to estimate the financing framework:
- Loan = Net income x 110 (possibly 110) --> makes €600-650k loan for you
- For every €100k loan, a €400 installment is due -> makes about €2500 installment with that loan amount
With the installment, you manage quite well without children, but certainly not so well during parental leave. Above all, you still have to calculate additional costs. €2000 for housing costs definitely won’t be enough.

Topic private health insurance (PKV): Yes, I am aware of the costs later with children. However, the topic is often exaggerated and portrayed extremely negatively. In my opinion, one should not save on health. Nevertheless, one always has the option of switching to the basic insurance in old age if one can no longer afford the insurance.

There are forums specialized in financial topics where the relatively unanimous opinion is that private health insurance is not a savings model. How could it be, when basically the 3.5-times rate is billed and only in exceptional cases the 2.8-times ;) . Contribution increases with age, child insurance and deductibles are the issues. In old age, you also no longer receive an employer subsidy for private health insurance. Especially dangerous are insurances that offer attractive deals in younger years and then increase sharply. Simply switching is not possible under current legal conditions because the age reserves remain with the old insurance.

Basically, I also see a contradiction in your case between the high savings rate and the way you live: meal kits instead of shopping, the latest tech gadgets, etc. After today’s contributions, I would critically question again whether you’re making some things look better than they are or living off the substance if you go through the calculations.

"In 5 years maybe one, maximum 2" The child can also come in 10 years. I would also first plan without children here. And if a child comes, maybe there are already, sadly, the first inheritances.

Then it will of course work more easily.

Regarding private health insurance: as I said, I don't want to save on health either. I have to say that I currently have a rather expensive plan, which I will change in a year.

Basically, I now see a contradiction between your high savings rate and your lifestyle: meal kits instead of shopping, the latest tech gadgets, etc. After today's posts, I would critically reconsider whether you are just rationalizing some things or living off your assets when doing your calculations.

As I said, I roughly have another €10,000 per year available that I can just spend. So there's no rationalizing. I also don't want to lie to myself to build at all costs. But I also have no problem working towards this specific goal. Even if it doesn't work out, the money wouldn't be gone, and in 3 years you should still be able to build with €200,000.

Maybe I personally have too high demands on the house. It certainly helps us to be brought back down to earth a bit. For example, I can definitely do without a basement, one could plan a living room in advance so that a projector with an appropriate sound system can be retrofitted later. A garage is also not important to me personally. Smart home can theoretically also be retrofitted with a wireless solution, etc.

It doesn't have to be. You have to insure it separately, privately or voluntarily statutory, both are possible. (About €150, which then "miss" per month).

not quite. It's €200 per child

Regarding the PKV: as I said, I don't want to save on health either. I have to say that I currently have a rather expensive tariff, which I will change in a year.

That's funny, on the one hand you don't want to save on health, on the other hand you want to switch to a cheaper tariff. With the same benefits?

I'm done with PKV, I should never have done it. Was also lured in, 6 months' contributions back, but then you are not allowed to submit anything or you lose it. Then the first and second child came.

"Child sick" also doesn't work because your partner's statutory insurance doesn't pay anything. In PKV, such coverage is also not insurable for children.

But now it doesn't matter since you are in the PKV and without your salary falling, you don't initially fall out regularly.

not quite. It's €200 per child

That's funny, on the one hand you don't want to save on health, on the other hand you want to switch to a cheaper plan. With the same benefits?

I'm done with private health insurance, I should never have done it. Also got enticed, 6 months' premiums back, but you can't submit any claims or you lose it. Then the first and second child came.

"Sick child" also doesn't work because your partner's statutory insurance doesn't pay anything. In private insurance, such things are also not insurable for children.

But it doesn't matter now since you are in private insurance and, without a drop in income, you don't typically get kicked out.

Sure, with the same benefits :) But a plan with a single room is simply pointless, just like certain other additional benefits that I don't need from my point of view or at least don't want to pay for at these current costs. I think the issue of private health insurance doesn't really have much to do with this topic for now.

And which of that is correct now? (Now still filler words...)

Yes, I had answered that too superficially. We have no experience with financing together at such costs. A year ago, it was about a loan of €150,000 at 100% with poor conditions. The conversation was merely a brief check with the financer without discussing details. To me, a financing conversation means something different.