Laynne
2018-07-13 23:59:23
- #1
Hello, we have been looking for a two-family house (for us and my parents) for some time. The bank has already given us the green light for the project, but I am always extremely critical with such matters and prefer to ask twice. We currently have a house in sight: - 180 sqm living space, of which 65 sqm are intended as a separate apartment for my parents - purchase price would be 377,000 euros (roughly 422,000 euros including incidental costs) - the roof and basement would need to be insulated As equity, we have a newly built condominium with an underground parking space, which was estimated at 200,000 euros by the Sparkasse. Another advisor suggested the figure of 250,000 euros. In addition, there would be roughly 30,000 euros from the savings book. Monthly, we currently have 1,700 euros net (both full-time) left over after all fixed costs. From my parents, we would receive roughly 600 euros in rent plus ancillary costs. I would like to consider all costs for the entire house, as my parents could not pay more monthly. Do you think the whole project is realistic so that the property would be paid off in 25-30 years? And what if children come along in the near future? I have already calculated everything multiple times (modernization, half salary, job loss, etc.)... In my opinion, it would work, and yet I am still unsure. What is your opinion on this?