Alessandro
2020-03-26 14:16:33
- #1
Inspired by my construction project, my brother and his wife are also considering whether such a project is feasible for them.
A plot of land including all additional costs worth 85,000 euros has already been paid from equity. There is no building obligation.
Income is composed as follows:
He: 2,500 euros net after deduction of the company car
She: 1,900 euros net
Both are 33 years old.
They copied the construction costs including kitchen and furniture from me: 500,000 euros including all incidental construction costs.
Since they still have freely available equity of 150,000 euros, they would need a loan of 350,000 euros.
One child is already on the way, and they are now considering whether the project is affordable for them with a child.
From my point of view, there is no objection, but I would appreciate your input.
What would be the smartest way to finance it?
A plot of land including all additional costs worth 85,000 euros has already been paid from equity. There is no building obligation.
Income is composed as follows:
He: 2,500 euros net after deduction of the company car
She: 1,900 euros net
Both are 33 years old.
They copied the construction costs including kitchen and furniture from me: 500,000 euros including all incidental construction costs.
Since they still have freely available equity of 150,000 euros, they would need a loan of 350,000 euros.
One child is already on the way, and they are now considering whether the project is affordable for them with a child.
From my point of view, there is no objection, but I would appreciate your input.
What would be the smartest way to finance it?