Is a new building realistic?

2016-01-10 17:38:28

We have not allocated every EUR of equity capital. I only listed in the first post what is being used for the house purchase. For the special repayment, we still have her 13th salary + Christmas bonus and for me the shift allowances, Christmas bonus, and bonus.

I attached our expenses. Maybe we forgot something.

2016-01-10 17:52:08

What comes to mind quickly:

Only €300 for groceries for 3 people? We are one person more, but we spend 2-3 times that amount (including children's meal money, canteen for us, drinks, etc.). Is clothing included? What about telephone (landline)/internet? Disability insurance?
What’s the deal with your wife’s semester ticket? Will that disappear at some point?
€30 maintenance costs for the car also seem very low to me. You have car insurance listed separately under insurances, but I find €360 per year for car tax and repairs/tires etc. very low.
Otherwise, I would at least set aside a certain amount for special expenses (vacation, glasses (if necessary), dental treatments, device repairs, etc... whatever might come up).

2016-01-10 18:39:52

This lineup is fantastic!

We are a household of four people and do not even come close to these values, even if I were to scale it down to three people. Are you sure you are not fooling yourself?

2016-01-10 18:55:43

Hello,

My wife and I are planning to buy a house. We currently have a new build in prospect for 295,000 EUR, with all special requests for 320,000 EUR.

Income is as follows:

My salary: 1600 EUR (actually 1700 EUR but the company pension scheme is deducted directly from the gross).
Her salary: 2000 EUR
Child benefit: 200 EUR

Equity capital is between 40,000 - 45,000 EUR (excluding 10,000-15,000 EUR which we have set aside for painting, flooring, kitchen, furniture, etc.).

Due to my shift work, I actually always earn more than the 1600 EUR, but the bank is not interested in that and we like to calculate with a reserve first anyway. In addition, she and I receive Christmas bonuses and I also get a bonus payment.

The monthly rate will be approximately 1100-1200 EUR (depending on the current interest rate (2% repayment, 15-year fixed interest rate).

Do you think a property of this size is financeable or are we overextending ourselves here?

That is too tight. Especially since roughly 30k EURO of ancillary construction costs are missing here. The household expenses are hardly believable. With the issue of a complete loss of one income, I agree with the thread creator. Should that happen, it will quickly be over for most. Including us. If I, as the main earner, fail...it’s over after using up a reserve. Women (especially with children) rarely earn enough for the whole family.

Regards, Steffen

2016-01-10 18:57:02

Hello,
we have not built yet. But do you want to build near where you also live? So we have calculated hypothetically since we would move farther away when the building is advanced enough, which means a longer commute and more fuel costs to expect. Possibly if you want to build a bigger house, then probably also with higher costs for electricity, right?. What I don't understand is about the [Semesterticket]. Is your wife still studying? But you both are fully employed, right? As long as you study, you also get quite a few discounts. Keep in mind to factor in more costs (hypothetically), for example house insurance. Still, if you are frugal, then it can also work.

2016-01-10 20:41:57

What immediately strikes me:

Only 300€ for food for 3 people? We are one person more, but we spend 2-3 times that.

So we also manage with 300-400€ for food for a 3-person household.

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Is a new building realistic?

Hagiman2000

Bauherren2014

EveundGerd

Steffen80

arubau36

Sparstrumpf