Is financing theory practical?

then the bank asks concretely. you all seem to be quite sure already. I would be cautious with guarantees from the family. a family has to function very very very well for that.

are you already married?

Is your salary increase fixed by the collective agreement or are you planning with it? That would also be a risk.

then the bank asks specifically. You all seem to be quite sure already. I would be cautious with guarantees from the family. The family has to work very very very well.

Are you already married?

We are not married yet, but have been a couple for a long time and have also been living together for several years.

Regarding the guarantee: We would like to do our best to manage this project ourselves, even if there are enough funds within the family to pay for the property in cash.

Is your salary increase fixed by collective agreement or are you planning for it? That would also be a risk.

Fixed!

4k... 4.2k... 4.5k... 5k... annual increase

I would like to approach the topic differently:

How much equity would we need to bring in order to manage a sensible financing of the entire construction project (€600,000) with a net salary of 5k?

Briefly on the topic of guarantee: No, it does not help. A guarantee is especially helpful when the debt serviceability is mathematically given but tight. However, as I already wrote to you in my first post, in your case - for this Schnelltilger-Grundstück-Vorhaben (!) - this is simply not mathematically present, the rate you desire is simply too high.

The jumping comma is indeed the child question, as already mentioned several times above. You should first lay out the cards there. None, in 2 years, in 10 years? One every 2 years? Who stays at home? How long does he/she stay at home? In my opinion, the child question is the crucial point for your planning, for the salary – and thus also for the necessary equity.


And, somewhat off-topic: Are inquiries with average income and "larger" construction projects increasing at the moment? Or does it only seem that way to me? Or has the price just gone up again?


If all this is approved, with guarantees on parental homes, planned tax refunds, etc... Not that the banks accept all this and then skip out.