Is building a house possible with our salaries? Your opinions

2019-02-23 12:49:54

What do you think is a good amount of equity for such a sum? 100K?

Equity can never be enough. In my opinion, priorities already start with the choice of the wedding and honeymoon. If I hadn’t had a garden party with select guests instead of the restaurant/hotel thing and club guests back then, and if we had flown expensively and extensively to a distant country, I wouldn’t have a house now!

2019-02-23 12:55:49

Thanks for the very factual comments. I exclude Crazychris here. What do you think is a good amount of equity for such a sum? 100K?

You can't really say that in general. And you don't try to build if the capital strength is not there. Why do you only have 10k equity with 2 full salaries? Have you reflected on that? I would research what childcare costs in Wetterau, calculate part-time, and then think again about what the burden is for a loan AND additional costs that will be more expensive than your rental apartment. Look at what the market is like with the budget. I see you more with a condominium or semi-detached house and used, not new. Believe me, children cost money money money.

2019-02-23 12:58:39

Thanks for the very factual comments. I’m excluding Crazychris here. What do you think is a good equity for such an amount? 100K?

Minimum 20%, but with 40% you sleep much better. Full financing or (like in your case) close to it is more of a hobby for people with very solid cash flow. As already hinted in another post: with the savings rate, you won’t be amazing in two years, but you’ll be better off.

2019-02-23 13:17:49

As of today, you need about 100,000 to 150,000 euros more than what the bank gives you. That is your equity that you need.

More is always better.

As someone already wrote, you will also find a bank that gives you the 600,000 now.

Can you pay the installments?
Be honest with yourself. So far, you have not saved any equity and now it should be 2,000 per month.

How does it look with [Elterngeld] or [Teilzeitgehalt] and [Kindbetreuung]?

2019-02-23 13:25:57

Minimum 20%, but with 40% you sleep significantly better. Full financing or (as in your case) close to it is more of a hobby for people with a very solid cash flow.

As already hinted at in another post: with the savings rate, you won’t be fabulous in two years, but you will be better off.

40% equity, who manages to save that up nowadays at a young age? We’re talking about over 200k here.

2019-02-23 13:27:33

You can't say that so generally. And you don't try to build if the capital strength is not there. Why do you only have 10k equity with 2 full salaries? Ever reflected on that? I would research what childcare costs in the Wetterau, calculate part-time, and then think again about what the burden is for a loan AND additional costs that will be more expensive than your rental apartment. With the budget, see what's going on in the market. I see you more with a condominium or semi-detached house and that used, not new. Believe me, children cost money money money.

Yes, it’s because of relatively new jobs, before that we earned less and regularly went on vacation etc., and both of us also did a part-time degree alongside work, which also cost money. Therefore, after saving for a few months, 10k is actually quite good, or so I thought.

And I mentioned at the beginning, the plan is to build within the next 1-3 years. So saving a bit should work.

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Is building a house possible with our salaries? Your opinions

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