House building - Is it realistic?

Yes, that is definitely us. We actually are right now as well. I am repeating myself again, but: there were simply many special expenses that made saving difficult (!). But those always come up again. That's why it is absolutely right to take that into account.

Regarding the house price: we are still at the beginning and will see then. If necessary, it just has to be smaller. We are currently living as three people in 68sqm...

I put the data into an annuity calculator for you.

250,000 Euro loan
900 Euro monthly payment
results:
On the left the assumptions and on the right some results.


The house is only paid off after more than 35 years and after 20 years more than half of the loan amount still remains as residual debt.

I think the tip to save for 1 to 2 years is very sensible. Then you will definitely have a good emergency fund and the insight into whether you can manage to cover the amount every month.

Amount to save:
assumed house payment: 900 Euro
assumed additional house costs: 300 to 400 Euro
assumed reasonable reserve formation, once you have the house: 150 Euro
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That is 1350 to 1450 Euro that would be incurred monthly if you had a house. Minus the rent you currently pay, which I think was 700 Euro, you should actually be able to put aside at least 650 Euro to 750 Euro monthly from now on.

Well... the problem is that you don't know where interest rates will be in 2 years, and building will become even more difficult despite increased income. I don't see it that strictly. You can make special repayments, and as soon as you work full-time again, you can adjust the repayment. But you have to be consistent.

Thanks for calculating.

It is currently 700€ cold rent. But we also pay additional costs here. So about 950€. So to test it, we would now have to set aside about 450€ per month.

By the way, we don't want to build immediately either. Due to the change of federal state, everything is taking longer. Spring 2017 was planned.

By the way: not that I place special importance on it, but I am currently working, my husband is on parental leave.

Then set aside 550 euros. One should always choose the higher amount first and not immediately go down to the minimum.