Florian89
2019-02-23 09:19:58
- #1
Good morning,
my fiancée and I have been dealing with the topic of building a house for some time. First, some information about us:
Desired house concept:
We already have a few requirements and place value on quality:
- 150-170 sqm living space
- master bathroom and children’s bathroom, home office.
- 400-500 sqm flat plot
- Location: Wetteraukreis, within 50 km of Frankfurt am Main
Net household income
He: €2,300 (29, permanently employed, salary will increase in the coming years)
She: €2,300 (29, permanently employed)
Total income: €4,600
Expenses
Cold rent: €800
Additional costs: €150
Other monthly expenses (insurance, [GEZ], groceries, mobile phone, fitness, etc.)
Total expenses: €1,850
Monthly disposable income: €2,750
Equity: €10,000
Since we will still get married this year and then go on our honeymoon in January, our equity will initially be tied up.
Plan, idea:
We want to buy a home in the next few years. We currently live in Main-Taunus-Kreis but want to move back to our home area and build in Wetterau. We have roughly planned a construction start between 2020 and 2022.
Our current net household income is €4,600. We have no children but want some in the near future. I am aware that this decision will have a significant impact on the financing. Therefore, she will initially take one year of parental leave and then switch to part-time.
We have already spoken to several prefabricated house companies, as well as our house bank and an independent financier. For the total construction costs (land, house, ancillary costs) we were between €500k and €600k. Square meter prices in Wetterau are between €200 and €350 per sqm. Both financiers have offered us a credit limit of around €450k due to our employment situation. This would mean a repayment of about €1,500 with a fixed interest rate for 20 years and an effective annual interest rate of 2.24%. Loan term approximately 34 years.
Given our income and the plan to have the first child in the next 2 years, I am asking myself how much house we can afford. I have already had several conversations with parents and friends about this, and the general tenor was to take this step. However, after reading here in the forum for a while, I get the impression that calculations here are much more conservative and the whole matter is handled differently. Therefore, I would appreciate input from you.
Thank you very much for your time!
my fiancée and I have been dealing with the topic of building a house for some time. First, some information about us:
Desired house concept:
We already have a few requirements and place value on quality:
- 150-170 sqm living space
- master bathroom and children’s bathroom, home office.
- 400-500 sqm flat plot
- Location: Wetteraukreis, within 50 km of Frankfurt am Main
Net household income
He: €2,300 (29, permanently employed, salary will increase in the coming years)
She: €2,300 (29, permanently employed)
Total income: €4,600
Expenses
Cold rent: €800
Additional costs: €150
Other monthly expenses (insurance, [GEZ], groceries, mobile phone, fitness, etc.)
Total expenses: €1,850
Monthly disposable income: €2,750
Equity: €10,000
Since we will still get married this year and then go on our honeymoon in January, our equity will initially be tied up.
Plan, idea:
We want to buy a home in the next few years. We currently live in Main-Taunus-Kreis but want to move back to our home area and build in Wetterau. We have roughly planned a construction start between 2020 and 2022.
Our current net household income is €4,600. We have no children but want some in the near future. I am aware that this decision will have a significant impact on the financing. Therefore, she will initially take one year of parental leave and then switch to part-time.
We have already spoken to several prefabricated house companies, as well as our house bank and an independent financier. For the total construction costs (land, house, ancillary costs) we were between €500k and €600k. Square meter prices in Wetterau are between €200 and €350 per sqm. Both financiers have offered us a credit limit of around €450k due to our employment situation. This would mean a repayment of about €1,500 with a fixed interest rate for 20 years and an effective annual interest rate of 2.24%. Loan term approximately 34 years.
Given our income and the plan to have the first child in the next 2 years, I am asking myself how much house we can afford. I have already had several conversations with parents and friends about this, and the general tenor was to take this step. However, after reading here in the forum for a while, I get the impression that calculations here are much more conservative and the whole matter is handled differently. Therefore, I would appreciate input from you.
Thank you very much for your time!