How is a 400k loan financible without equity? Net equity at €4,500

2020-06-26 11:14:58

It wasn’t any different with my thread back then... I also think that it is definitely doable. Rent would interest me too.

A lot is also a matter of attitude when it comes to building a house. It also always depends on how high your standard of living is. People can often tell you to save more, or that the amount is too high, but if you perhaps have a standard of living of €500 less per month than someone else here in the thread, for example. Every situation has to be considered individually here... You simply can’t lump everything together.

We have been keeping a household budget for 1 year and know exactly what costs are coming up for us. Calculate for yourself what additional costs you have in a house and inform yourself about additional costs with children.

You will quickly find out how much you can repay monthly and what is possible.

Why should we have saved more? We both studied before. Therefore, I find this statement incorrect.

Rent is €700 including utilities. There won’t be double costs because it is my father’s apartment. We have very expensive cars. Together €800 leasing per month. These will expire soon and we will limit ourselves to €450 in total. I work in the car business. I only have €70 fuel costs. She €120. Each of us currently has €1000 available, of which we save €500–700 depending on costs. We don’t treat ourselves much.

2020-06-26 11:21:45

So your father waives (proportionally) the rent for you as soon as you have to start paying the first interest on the construction loan? (This probably means a double burden.)

You work in the car? Are you a taxi driver? (But that doesn't match the 70 EUR fuel costs.) I don't think anyone here wants to harm you, but unfortunately your explanations here leave a lot of room for misinterpretation and speculation, so you'd better try to clear them up with clarification. By the way, there is a questionnaire here also for that purpose.

As for the savings rate: May I understand it as each of you saving 500 - 700 EUR per month?

2020-06-26 11:22:04

What do you have left at the end of the month approximately? You have to save for costs like repairs etc., I can't just break even. Which amount is enough? 500€?

2020-06-26 11:25:02

Sorry, I am too fast. I work in town =) my father waives the fees as soon as we have to start paying. And currently, everyone saves at least 500€. In better months it is 600-700€. Depending on what we treat ourselves to or what comes up. We have been saving since we have steady jobs. Before, it was simply not possible. Everything earlier still comes from confirmation, birthday, etc.

2020-06-26 11:25:33

What do you have left at the end of the month roughly? You have to save for costs like repairs etc., you can't end up with zero. What amount is enough? 500€?

That's always the question... It has to be considered individually. No one can give you a flat amount that you should additionally set aside each month. It's all a bit vague... if you want well-founded statements, you should really fill out this questionnaire, somehow the situation is not quite clear at the moment

2020-06-26 11:26:04

It does you no good if someone here responds with maybe 10,000 EUR net per month, saying they also save 500 EUR every month. It also depends on your personal need for security. For example, I am of the opinion that you already save a lot simply by paying off a property. Therefore, theoretically, only money for maintenance, etc., should be set aside. But if, of course, you have additional wishes (vacation, hobby, ...), then those have to be paid for somehow as well.

How is a 400k loan financible without equity? Net equity at €4,500

Julian2301

K1300S

Julian2301

Julian2301

exto1791

K1300S