woodhill
2020-05-03 23:56:41
- #1
Good evening!
I'll keep it short and sweet... we would like your assessment of our situation. Can we afford a single-family house?
He: €3200 net including company car (already considered)
She: €866 (Parental allowance Plus + child benefit) -> child is 6 months old; planned part-time (€1319) from kindergarten
Total: €4066
My current Excel calculation says that we could currently manage a rate of €1200 + €500 operating costs.
Are the operating costs appropriate? I included insurance, ancillary costs, reserves.
Our current savings rate is €830/month, which would drop to €580 with my assumed rate.
Equity: €111,000
Own contribution:
- Electrical + network (I work at an electrical company) except for things that have to be done by a master electrician;
- Installation of doors/windows/roller shutters, etc. (My wife works at a related company; possibly a discount on prices -> not certain -> therefore not calculated)
What can be credited as own contribution (in €)?
We had a rough estimate made by a known civil engineer for a plot of land that is for sale.
Land costs:
- €113,760 plot 632m² at €160-180
- €1,707 notary fee 1.5%
- €3,982 acquisition tax 3.5% (Bavaria -> Lower Franconia directly on the Hessian border)
Total: €119,449
House construction costs:
- €270,000 house 150m² at €1,800 (medium standard; ground floor + upper floor)
- €20,000 double garage (possibly only one, but with a "shed"?!)
- €50,000 incidental construction costs
- €20,000 outdoor facilities
- €50,000 basement (in the houses left and right of the plot, the basement is half in the hill; basement plan towards the street side...on the hill side you enter the garden directly on the ground floor)
- €7,000 house connections
- €6,000 building application; statics; thermal insulation calculation (Energy Saving Ordinance)
- €2,500 reinforcement plans and partial work plan
Total: €410,000
Total costs: €410,000 + €119,449 = €529,449.00
So now it's your turn... is this doable?
Thank you in advance for your assessments!
I'll keep it short and sweet... we would like your assessment of our situation. Can we afford a single-family house?
He: €3200 net including company car (already considered)
She: €866 (Parental allowance Plus + child benefit) -> child is 6 months old; planned part-time (€1319) from kindergarten
Total: €4066
My current Excel calculation says that we could currently manage a rate of €1200 + €500 operating costs.
Are the operating costs appropriate? I included insurance, ancillary costs, reserves.
Our current savings rate is €830/month, which would drop to €580 with my assumed rate.
Equity: €111,000
Own contribution:
- Electrical + network (I work at an electrical company) except for things that have to be done by a master electrician;
- Installation of doors/windows/roller shutters, etc. (My wife works at a related company; possibly a discount on prices -> not certain -> therefore not calculated)
What can be credited as own contribution (in €)?
We had a rough estimate made by a known civil engineer for a plot of land that is for sale.
Land costs:
- €113,760 plot 632m² at €160-180
- €1,707 notary fee 1.5%
- €3,982 acquisition tax 3.5% (Bavaria -> Lower Franconia directly on the Hessian border)
Total: €119,449
House construction costs:
- €270,000 house 150m² at €1,800 (medium standard; ground floor + upper floor)
- €20,000 double garage (possibly only one, but with a "shed"?!)
- €50,000 incidental construction costs
- €20,000 outdoor facilities
- €50,000 basement (in the houses left and right of the plot, the basement is half in the hill; basement plan towards the street side...on the hill side you enter the garden directly on the ground floor)
- €7,000 house connections
- €6,000 building application; statics; thermal insulation calculation (Energy Saving Ordinance)
- €2,500 reinforcement plans and partial work plan
Total: €410,000
Total costs: €410,000 + €119,449 = €529,449.00
So now it's your turn... is this doable?
Thank you in advance for your assessments!