How much repayment is advisable for how much net income?

  • Erstellt am 2018-01-18 13:51:43

Tweener

2018-01-19 10:56:35
  • #1
Thank you very much for all the opinions and experiences.



That is an interesting thought. I have often had it as well. With 1-2 children we would necessarily need a bigger apartment. In our current area, we would actually come to a similar cold rent as the 900€. Of course, you have to look at the calculation as a whole with all costs including advantages and disadvantages like flexibility. Nevertheless, it remains an interesting thought.

As already mentioned, I approach this matter quite pessimistically (maybe too much). For her, the part-time employment would be with a 75% requirement from the employer. If I calculate with that and assume that despite the remaining >30 working years I will not get a raise anymore, we would have 4000€ net per month (without child benefit / Christmas bonus / vacation pay). With a bank rate of 900€ and ancillary costs in the range of 300-400€, 2700€ would remain per month for everything else. Special repayments / part of the reserves could be made using the 3 (in part-time 2.75) additional salaries.

Are 300-400€ ancillary costs (gas, electricity, residual waste bin, organic waste bin, chimney sweep, residential building insurance, property tax, telephone/internet, broadcasting fees) realistic in NI for ~145m^2? Even if it is not a passive house, I hope that, for example, the heating costs will not double measured by the living area. After all, we are currently heating in an old building and then in a reasonably insulated house.

Regards
 

markus2703

2018-01-19 11:42:52
  • #2
For 4 people, I would estimate approximately:

Electricity 75€
Gas 50€ incl. hot water
Heating maintenance/repair: 150€ per year
Garbage: 55€ per quarter
Chimney sweep: 5€ monthly
Broadcasting fee: 57€/quarter
Internet: 40€
Property tax: individual, hard to tell you. But just calculate with 45€ monthly, that should be enough for many locations.
Insurances: approx. 400€/year
Water/sewage: Depending on consumption between 30-60€ monthly
Term life insurance: approx. 50€

These are of course all individual values that currently apply to us.
 

toxicmolotof

2018-01-19 11:50:19
  • #3
These are 125 sqm KFW55 without a basement, located in the Rhineland. The municipality is one of the cheaper ones in the region.

The reserve fund is rather modest (a sensible amount would certainly be 150-200 euros, electricity is 5,500 kWh and depends on user behavior).

Better to calculate with 500 euros monthly or, given the house size, maybe even 550 euros. If in the end it's 500 euros less per year... good for Christmas presents.
 

HilfeHilfe

2018-01-19 12:35:25
  • #4


I can understand the concerns. You don’t want to put yourself in a bad financial position. But what alternatives are there?

Either way, your life will change because of children (not just financially). Maybe you won’t even want to go on vacation anymore because the kids are too stressful and you’d rather stay in the garden.

That happens too!

Regarding finances, I see one leverage. You as an engineer at 31 certainly still have potential for growth. You just have to make sure not to undersell yourself.
 

Specki

2018-01-19 12:49:51
  • #5


That's right!
Now at 32 years old, 9 years after starting my career as a graduate engineer, I am just barely away from earning double my starting salary back then. A yearly negotiated raise, as well as two significantly above-average raises and a job change with a salary jump have made that possible.
 

HilfeHilfe

2018-01-19 12:59:01
  • #6
It always depends on the industry and whether you want it. In the [Branche Bank Rhein Main], you can choose anything if you are a specialist in something.
 

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