Is building/buying a house feasible?

400 € additional costs should be fine, we pay about 350€ for electricity, water/sewage, [GEZ], garbage, property tax, internet, garbage, insurance.

Currently, we pay just under 250 euros for the monthly maintenance fee. Sure, that includes things like the janitor, elevator, etc. That will then be eliminated, but we have to bear the reserves alone without the WEG.

I prefer to be safe and take a bit more rather than too little and then be stuck in case of problems.

We have already discussed the topic of "further out" several times, but we always ended up "at home." And Monheim's location is really not comparable to Isar Munich. Prices are unfortunately exploding right now, and there are always enough people who can or want to pay it and somehow manage, even if they can't.

If we want to stay in the area, we have to pay the prices. The question is only whether just under 5,000 euros per month + 170,000 euros equity are enough for that.

It doesn't feel like little money. But, looking at the posts here, it seems that even that is little or too little to buy/build a home nowadays.

Heating costs for a KfW 70 house with gas heating (I couldn't find the heating type here, only controlled residential ventilation with heat recovery) are under €50/month. So it should be even a bit lower here. With a house, you don't have additional costs like a janitor, etc. €350 for electricity, water, insurance, garbage, I think that is very high.

In addition to the additional costs, there are also reserves for maintenance and repairs. You should set aside €1-2 per sqm depending on the year of construction of the house.

Okay, I have now seen the additional costs compared to the service charge. So without phone and internet. Electricity is also settled separately; so it would have to be added to the service charge now. But for sure: better to be conservative in calculations...

What I wanted to say about the centrally located plot in Munich by the Isar: you wish for a lot, but you have to consider whether you can afford it. And possibly look for alternatives. That means: I could easily afford something if I looked a few kilometers further away. But if the motto is: I only want to live there (and it doesn't really matter where), then I have to see if I can afford it. So if I’m not flexible in terms of location, then the alternative is simply: don’t build/buy. And that’s something everyone has to decide for themselves.

For me personally, that would be too tight; especially since Child 2 cannot be excluded. But I’m also a security freak. So in plain language: I wouldn’t do it or would really look further away for something that fits better within my financial framework and then I could calmly face Child 2.

Don’t get me wrong: it could work now, but with a second child it will be quite a balancing act. I wouldn’t want to put myself through that. And the other option, definitely foregoing Child 2, also doesn’t seem to be on the table. And (there he is again, the security freak in me) if something happens to one of the children, you’re not in that position, then you can’t keep the house. That would be too risky for me.

The only question is whether just under 5,000 euros per month + 170,000 euros equity capital will be enough.

A big problem with that is that you don’t actually have the 170k. You have a condominium that has an (estimated?) value and that you could sell. So you only have the money
- once the condominium is sold
- the estimated price is achieved
- additional costs are deducted
- possibly a temporary accommodation needs to be paid for or the money only flows after the completion of the new building
- possibly tax issues are clarified
-...

If you had the 170k in your account, that would certainly ease the situation.

A big problem is that you don't actually have the 170k. You have a condominium which has an (estimated?) value and that you could sell. So you only have the money
- once the condominium is sold
- the estimated price is achieved
- ancillary costs are deducted
- possibly temporary accommodation needs to be paid for or the money only flows after the new building is completed
- possibly tax issues are clarified
-...

If you had the 170k in your account, that would certainly ease the situation.

That's right. Our bank told us: sell your house first, then we'll see how much equity you have, and we start calculating,