Is buying property now sensible? Experiences?

  • Erstellt am 2023-01-20 18:33:37

SoL

2023-01-20 20:14:55
  • #1
Where do the 7k€ (!) go every month? Do you have children, if yes, how many?
 

HnghusBY

2023-01-20 20:23:25
  • #2
In general, I wouldn't even consider the income. However, you have relatively little equity compared to the income - but perhaps the income has only existed for a short time. What, in my opinion, does not fit is the fear of a high loan installment with a low savings rate of 2,500€. So either you save a good amount and try to reduce the loan installment with as much equity as possible, or you accept the installment you have to pay for the loan. With that income, both options should be no problem.
 

baristabasti

2023-01-20 20:26:17
  • #3
Certainly, mathematically and practically more installments are possible, but we are still planning for offspring. And I prefer to calculate with some buffer in the months and without future salary increases. Both of us are 33 years old. I calculated the 460 TEUR with a flat 4% interest and 2% repayment. Therefore, always keeping the target rate of 2.8 TEUR in mind. For the land, about 1,100€ would be due monthly from now on. The remaining provider of 1,700€ is then available for the house at the (assumed) conditions. Hope that was somehow still understandable.
 

baristabasti

2023-01-20 20:28:33
  • #4


The income has only existed for 2 years. Due to various circumstances (without impact on financing etc.), my partner is unfortunately practically starting again with 0 EUR equity.
 

fm-united

2023-01-20 20:31:11
  • #5
I also think that you should just do it now.

With a calculatory 6% capital service per month, you pay €500 per month per €100,000 loan to the bank. With a (quite low) target rate of €2,500, that is a €500k loan, plus your equity. So you actually have more money available. During the construction phase, you will continue to be able to save equity, which can also be used for subsequent things like the kitchen and outdoor facilities.

Would you like to explain to us why you want to wait until 2025? What do you hope to gain from waiting? You will also continue to pay rent, and construction costs will probably not decrease, at most stagnate.

And generally: Why can’t you set aside more money monthly?
 

baristabasti

2023-01-20 20:34:12
  • #6
Hi. No sorry, that came across a bit unclear in my explanation. I would describe our expenses so far as "normal". We pay 2.5k EUR for rent (including heating).
 

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