smörrebröd
2019-10-28 10:29:48
- #1
Hello dear forum members,
my wife and I are considering building a house in the (greater) Magdeburg area. My wife is very conservative when it comes to financing issues and absolutely does not want us to overextend ourselves financially (by the way, I don’t want that either!).
Therefore, I would just like to ask around and request an assessment. Our situation: We are both in our early 30s and civil servants in the higher service of the state administration. At the moment, we have a household net income of about €6,700 at salary level A13, including child benefit for one daughter. A promotion to at least A15 is very realistic in terms of position (both are in top state authorities, and the positions are also set accordingly). This fact is relevant insofar as salary development is at least somewhat predictable. Our expenses include private health insurance (about €570 for all three), warm rent of approximately €1,200 (warm), and other fixed costs of around €1,300. Available equity at the moment is about €60,000. We are only now really starting to break down our costs and accordingly save.
The plan is to build a single-family house with about 140-150 m² of living space, possibly with a garage. We do not have a plot yet but are in discussions about it. Two plots are available (about 700 m²) for roughly €65,000 or €88,000, excluding additional costs. Overall, I have set an upper limit of €460,000 (plot, house, possibly garage, additional costs).
My question: From your point of view, is this feasible given our personal situation? Or are we overextending ourselves? Is the budget perhaps even set too low? I know these are just rough data now, but I would be grateful for a general assessment!
Best regards
my wife and I are considering building a house in the (greater) Magdeburg area. My wife is very conservative when it comes to financing issues and absolutely does not want us to overextend ourselves financially (by the way, I don’t want that either!).
Therefore, I would just like to ask around and request an assessment. Our situation: We are both in our early 30s and civil servants in the higher service of the state administration. At the moment, we have a household net income of about €6,700 at salary level A13, including child benefit for one daughter. A promotion to at least A15 is very realistic in terms of position (both are in top state authorities, and the positions are also set accordingly). This fact is relevant insofar as salary development is at least somewhat predictable. Our expenses include private health insurance (about €570 for all three), warm rent of approximately €1,200 (warm), and other fixed costs of around €1,300. Available equity at the moment is about €60,000. We are only now really starting to break down our costs and accordingly save.
The plan is to build a single-family house with about 140-150 m² of living space, possibly with a garage. We do not have a plot yet but are in discussions about it. Two plots are available (about 700 m²) for roughly €65,000 or €88,000, excluding additional costs. Overall, I have set an upper limit of €460,000 (plot, house, possibly garage, additional costs).
My question: From your point of view, is this feasible given our personal situation? Or are we overextending ourselves? Is the budget perhaps even set too low? I know these are just rough data now, but I would be grateful for a general assessment!
Best regards