Home financing about 500K - Can I afford it?

  • Erstellt am 2020-10-21 08:13:19

Dude2000

2020-10-21 11:30:18
  • #1
The car is a Seat ST from 2017 which, if at all, is driven 5000 km. The second one is a VW Up from 2016 which costs 40 euros tax per year plus 180 insurance for 10000 km per year. Just for the Up I come to about 20 euros insurance and tax and max 65 euros fuel. That puts me at 85 euros per month. The Seat is a bit more expensive in insurance, I come to a total of 100 euros per month. So I don’t find my 300 euros per month so extremely exaggerated.
 

ypg

2020-10-21 11:38:24
  • #2

That may be true, and those are great numbers that don't matter much, but if you have to pay a mortgage in 2024, the garden costs its part every month for the first years, and the VW UP has to be replaced for some reason (e.g., something bigger or safer), then a payment will be added to your life that you have to pay. Whether you save up now or finance later doesn't matter: in the end, you have significantly less per month.
 

apokolok

2020-10-21 11:57:21
  • #3
Now don’t get so hung up on the cars, .
If the Up is almost always just standing still anyway, it can just be replaced by a bike or an old Fiesta.
If you have to have a new C-Class and a 3-year-old Golf parked outside, cars are expensive, of course.
But if you can get by with a 10-year-old Opel and can do some repairs yourself, the costs are simply lower.
These should not be underestimated either, but it’s not the same for everyone.

The financing is doable, although with the current income it is definitely tight.
The housing costs are clearly too low; if you really go into financing like that, the additional financing will definitely be booked.
But first look for a plot of land, then you’ll have a major item realistically calculated.
Then it goes on with selection and planning, then it gets a bit more realistic.
I would assume total costs of 600k.

A guaranty is nonsense and simply not necessary, an equity grant would be great, there’s nothing against that either.
 

Dude2000

2020-10-21 12:12:31
  • #4
I am now assuming the following costs, the fact is that my wife will earn at least 700 euros more again in the near future and the daycare will be eliminated in 4 years and with the current job my starting salary is with SK 4 still needs to be changed

Property tax 40 euros
Waste 20 euros
Street cleaning 25 euros
Water 40 euros
Heating 170 euros
Heating maintenance 40
Electricity 100
Phone 30
Chimney sweep 10
Reserves 170 euros
Insurance 50 euros

Total 695 euros

Car (so that someone here is satisfied) 400 euros
Food 550 euros
Mobile 20 euros my contract will expire and I use the company phone privately
Fitness 40
Miscellaneous 400
GEZ 20
Insurances 50 euros (private accident insurances are paid by the company)
Daycare 500
Total: 1980 euros

695 euros ancillary costs
1980 euros living costs
total: 2675 euros

about 4600 - 2675 euros

remaining 1925

now you can tell me where I still need to top up
 

Ybias78

2020-10-21 12:16:48
  • #5


You live with your parents and therefore pay no rent, or am I missing something?
 

KingJulien

2020-10-21 12:20:21
  • #6
But the Up drives 10,000 km a year, which literally becomes sporty with the bike.
That totals 185 for calculable, ongoing costs. That leaves 115 for maintenance/repairs and savings for new cars.
It's really not the vibe right now.
Sure, it doesn't have to be the GTI or 5 Series, but you can't get anything great for under 5,000 now. Especially since the cars the OP is currently driving aren't complete junk either. And with such a small savings rate, it takes a long time to gather those few thousand at all.
Doing your own repairs is of course also cool, but spare parts aren't free either.

On the other hand, income will increase significantly soon, which makes things much more relaxed again.
 

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