Home financing is coming up: Should you still buy a new car now?

Hello everyone! Great forum, I will definitely be here more often in the future. :) But first, it starts a bit off-topic:

Sorry for the very rough data. I am aware of that. We are still at the very beginning of planning. We will go through the detailed list from next door when we get the chance. :)

My wife and I are planning a single-family house AND a family car. She is 27, he is 34. Children soon would be great, preferably 2. She will soon become a civil servant. Net income then about €2900. He has a net income of about €3300. So we are in the fortunate position of both having good jobs.

For a building plot you have to reckon with €90k here. In addition, a house of about 140 sqm with a basement, garage, outdoor facilities. What should you definitely expect? €360k. So nowadays we certainly won’t get away with less than €450k.

Equity: €107k Also, our parents would support us with €47k. We would have to take out a loan of about €300k.

In my estimation, we can manage that, even if one income temporarily falls away because of children, and pay it off over the years. What do you think?

If we also fulfill the wish for a large family car, €38k equity would go away. Would you advise against that or did you perhaps do exactly that?

Thanks in advance for your contributions!

I would have kept my equity together in order to obtain the best possible loan conditions. Goodies for the house are generally also more sustainable than the short-term desire for an expensive vehicle. With your framework data, however, the lack of €38,000 in cash will not prevent the construction project. On the other hand, I would not buy a "family car" if there is not even a family yet. From my own experience, I can only give the advice that small children do not take the value of a vehicle into account and that regular driving on construction sites can affect a vehicle differently than if it just stood in the garage. Only you can assess the reaction of the family who are contributing money towards the house construction if at the same time you acquire your dream car.

Hi,
apart from the fact that I personally think it's madness to buy a brand new car privately, especially for 39k€:
During the construction phase, it's a really bad idea: You will always have to transport some big, even dirty things, even if you are building turnkey with [GU]. And that in a new car? No, that would be too stressful for me!
And when you have children, you have other worries than cleaning a new car. With an old car, you stay much more relaxed when the little ones crumble their cookies in the back and step on the seats with dirty shoes.
Better to keep driving the old junk, it makes life calmer! Of course, it still has to be absolutely reliable!
And my mother also gave us some money, but she would have looked very strange if we had spent it right away on a new car...

Best regards,

Andreas

For a building plot here, you have to reckon with 90k€. Then a house of about 140 sqm with a basement, garage, outdoor facilities. What should you definitely expect? 360k€. So nowadays we certainly won’t get away with less than 450k€.

30-40k€ additional building costs
10k€ for painting work
10k€ for the most necessary outdoor facilities
10k€ for carport/prefabricated garage
1500-1600€/sqm Energy Saving Ordinance house in standard equipment = 210,000 - 224,000 (140 sqm)
50k€ for usable basement
10-15k€ surcharge for KFW 55
10-20k€ for sample upgrade surcharges

+ Plot (and purchase incidental costs for this)
+ Buffer for contingencies (such as difficult soil conditions, etc.)

Not yet included are things like kitchen, additional furniture/lamps, or moving costs.
So with 360k you’re already well on the way; however, a few things are still missing. For me, the new car would come last in that case.

By the way, I can only agree with my previous posters. A construction site is simply dirty.

Regardless of whether it makes sense or not...

A construction site is simply dirty.

That's what car washes and high-pressure cleaners are for... somehow not an argument.
Just like crumbly children... in case of doubt, foam padding and off you go.

Apart from whether it makes sense or not...



There are car washes and pressure washers for that... somehow not an argument.
Just like crumbly kids... if in doubt, upholstery foam and off you go.

There are things that simply hurt!
These include the first marks in the interior, for example when the bargain, such as a refrigerator from the specialty store, is transported by yourself; or also the stones of the small flower bed/curbstones/flower pots/trees, etc. Those can no longer be cleaned away.

Financially you seem to be well off – what speaks against buying a car AFTER building the house?