House building - Is it realistic?

  • Erstellt am 2015-10-21 18:36:27

HilfeHilfe

2015-10-23 08:26:03
  • #1


Hello, great calculator. Is it accessible to everyone? If yes, please provide the link...
 

astad

2016-06-20 13:04:02
  • #2
Hello everyone,

I need to bring up the thread again.

In the last few months, we have easily been able to save 300€ each month without restricting ourselves. Sometimes even more.

The question was how much installment we can afford. Here are all our numbers again:

Income woman: 3050 net (I have now excluded the [PKV], as that seems to confuse many...)
From now on, there will be 3200€ net,
Civil servant

Income man: normally 1600€ net, currently on parental leave

Child benefit: 190€ (one son, 2 years old)

Current expenses:
700€ cold rent
Additional costs including electricity: 970€

Of course, there are also all other expenses like
mobile phone, telephone, internet, insurances (also [BUZ] etc.), groceries, etc.

During the time I am on parental leave (we want a second child), we will have about 3600€ income (including child benefit).

Afterwards, we aim to have 4000-4500€ net including 2x child benefit. Later we will certainly both work full-time again.

But back to the current situation.

If we assume an installment of 900€ and can currently easily save 300€ (there is also optimization potential and we can restrict ourselves for a transitional period, e.g. parental leave), that is doable even with the current income. Even if I consider the higher additional costs.

We also have:

Plot of land worth 42000€ (without additional costs, we pay those ourselves, but I don't count that towards the value, right?)

Equity as emergency savings: 12000€

Balance in a savings account for the kitchen or whatever: 18000€ (but that will increase).

We calculate with a price for the house including additional costs of about 250000€.

I can also imagine an installment of 1000€. During parental leave it will be tight with the reserves, but the rest should be manageable without stressing us. In an emergency also with one (my) income.

What do you think?
 

astad

2016-06-20 13:19:10
  • #3
Oh, I forgot something. From August, daycare fees of 200€ will be charged to us. However, we will also have one less car (so far I have been paying 200€ per month for fuel) and pay 80€ less rent.
 

Yaso2.0

2016-06-21 16:09:55
  • #4


Your husband used to earn 1600 euros net, does he now receive parental allowance? Is he going back to his job or does he first have to find one? I’m asking because you mention an income of 3600 euros during the parental leave of the second child.

I had read through the posts and I can understand your explanations that in the past savings were not possible due to higher expenses.

But you write that you have 3050 (now more) euros net + 190 euros child benefit = 3240 euros. Of that you pay 970 euros warm rent, the rest is 2270. You currently save about 300 euros per month from that. Do you really have living expenses of 1970 euros?

We also have 2 cars and pay almost 900 euros monthly installment for the house, then almost 200 euros additional costs and 310 for our daughter's daycare. My husband earns 2700 euros net and we live only on his salary.

My part-time salary of 1500 euros we either save monthly for everything else or spend on things we want to treat ourselves to.

Sorry, but I think there is a calculation error somewhere on your side. Or do you still have some loans? I absolutely don’t want to be intrusive, but anyone who can or wants to save "only" 300-400 euros per month with 3 persons and 3200 euros net should really think carefully about the house.

Basically, I see no problem financing a house with your income, but I think you should simply take the advice for a household budget book to see where your saving potential is hidden.
 

astad

2016-07-04 18:28:10
  • #5
Hello, I haven't replied for so long because I am confused by the evaluation of our lifestyle. What and how we spend money is secondary, right? And that others spend less is also, right?

With the income and the savings rate (we have observed that over months), financing the amount, possibly even a bit more, is possible. And only during parental leave are reserves only limitedly possible, after that generously again. These are just short periods in relation to the overall project.

You probably don't mean it badly, but I don't want to justify my expenses extensively.

I still thank you for your assessments and suggestions!
 

Sir_Kermit

2016-07-05 07:43:20
  • #6
Hello,

I think you have thoroughly misunderstood. It’s not about a personal justification; after all, everyone can spend as much and on whatever they like. However, while reading through, I got the feeling that you want to basically replace rent almost 1:1 with a house, without it affecting other areas of life. If I’m wrong, please say so. Those who don’t know what to do with their money have fewer worries. Those who have to budget tightly face a sporting challenge from there on, which can succeed in rare cases. With a house, in addition to the pure construction costs (I’m including additional costs here), many small costs arise that don’t occur with rental apartments, for example garden, carport, and access paths. This will cost more money than one can initially imagine. If one does not restrict one’s own lifestyle for a certain period, there is a risk of overextending oneself. If you believe everything will continue as before and I can almost cost-neutrally gain additional value by living in a house, then you are – sorry – on a big wrong track. Without restrictions in the first few years, that is almost impossible. Especially since personally I see no problem at all, because after all it is an investment in one’s own future. So what? And that will cost money and ultimately always more than one thought. We are currently experiencing that the Energy Saving Ordinance 2016 does cause a bit more cost than we had imagined. Not dramatic, but small expenses everywhere also add up. Those who are not homeowners will be taught better by the many sensible and not so sensible insurances (building, possibly land, photovoltaic or solar systems), property taxes and possible fees from the municipality (road construction, improvement of sewage system). All the little things that one usually never sees as a tenant, you see in the house. Many years ago, a sewage treatment plant was built in our community and – suddenly – some residents faced five-figure DM bills payable within 4 weeks. In short: those who have not had to count their money closely so far will have to do so with building a house. Otherwise it will be a dance on the volcano.

Kermit
 

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