Is financing feasible? Single-family house 155 sqm

Thanks to the majority of the participants in this thread - now I finally understand why I usually refrain from stumbling into finance threads! Why is there always a fundamental debate in this forum about whether the rest of the community believes how much money you have? If you don't want to say, "I won the lottery and my girlfriend robbed a bank," your household income is first of all generally doubted. So you tell another story and promptly there is a mass brawl about the BBesO and all (including Mallorca seventeen) TV-Ls. Which kindergarten have I ended up in here - can't one just hypothetically assume someone has household income X? By the way, I earn C4 and my girlfriend R2, both plus local allowance for Lummerland *ROTFL* #ifitweren'tsosad

Yep, thanks. It doesn't matter at all, end of story...

We are still happy to receive opinions regarding the repayment structure.

Yep, thanks. That doesn’t change anything, end of discussion... We are still happy to receive opinions regarding the repayment structure.

What should one advise there, of course as much as possible. I would initially set the rate at 2000 euros, with the possibility to change the repayment again. Best regards Sabine

what should one recommend, of course as much as possible. At the beginning, I would set the installment to around 2000 euros, with the option to change the repayment again.

Best regards
Sabine

Well, that's the question...

Maybe only repay 1,600€ and put aside 1,000€ every month as a cushion for the future. In 5 years, that's roughly 60,000€ + with our savings for the future, we'd be just over 100,000€. That would of course give us a high financial security in "difficult times" and we could even reduce the repayment then and would be liquid at any time.

Sure, that means we would roughly pay off over 35 years, but we would simply have security in the background at all times and would never have to worry financially during the term.

That's why I say: 1,600€ sounds like a lot, but if you consider what additional cushion we could have saved by the time of the first child, if we don't pay everything in extra repayments immediately, 1,600€ actually works out well.

How did you come up with the 1600 euros? When I enter this into an online calculator, for a loan amount of 550,000 euros I get about 1.5% interest (fixed for 20 years), 2% repayment, a rate of 1600 euros but a term of over 37 years. I would repay as much as possible, since I would have to pay interest every month on the unpaid portion.
Best regards
Sabine

How did you come up with the 1600 euros? When I enter it into an online calculator, for a loan amount of 550,000 euros, I get about 1.5% interest (fixed for 20 years), 2% repayment, a rate of 1600 euros but a term of over 37 years.
I would repay max, because I would have to pay interest every month on the unpaid portion.

Best regards
Sabine

Of course, these online calculators can only provide very rough estimates. Currently, there are so many options with split loans, etc.

Depending on how we split, we do not have an average interest rate of 1.5%, but rather between 1.1 and 1.2%.

The loan amount was 490k back then and is probably still current. We split various loans internally at the bank with 10-year fixed interest, 15-year fixed interest, KfW loans, and building savings contracts with 26 years, etc. We agreed on 3% repayment and then a term of just under 35 years.

Yes, you are right, but the security I can save up is also very important to me! Of course, the more I repay, the faster the loan is paid off, but the less liquid I will be later.

I see the "problem" with saving money on the side as rather that the money gets used for other necessary things. Your cars won't last forever, and you won't save up the purchase costs for two cars very quickly. I would rather question again whether the house couldn't be built smaller or cheaper, and I would question the basement even more, as a white tank certainly costs 30,000 euros in addition to a regular basement. Most people have only a garbage collection area in their basement to a large extent. Best regards Sabine