Alina1991
2019-05-16 16:20:05
- #1
Hello everyone,
I have already read up a lot myself but haven’t really become any wiser. Maybe you can give me tips or share experiences regarding financing. I know that everything is without guarantee and absolutely non-binding. It’s just that I am very skeptical about banks and financial advisors, so I wanted to ask for help here so that I don’t look completely clueless when I have my first appointment. My husband really isn’t any help with this! We have found a property (2-family house) in Bielefeld 33719. The purchase price is 350,000 euros without a realtor. The property can be moved into directly; it just needs to be wallpapered once and floors laid (my husband will do that). The property has one residential unit (upper floor) with 60m², which we plan to rent out for 450.00 euros cold (to the brother). We wanted to move into the ground floor with 110m².
Now, a bit about us. I am 29 years old and a trained social worker. Currently, I am in a fixed-term employment contract for 20 hours with a monthly net income of 1,300.00 euros. However, I will soon end this and begin family planning with a second child. Then I will take parental leave for 2 years and afterward look for a new job (which shouldn’t be a problem). I own a small business with a monthly profit of 250.00 euros. There is potential to grow it, but unfortunately, I lack time due to my main job. My husband is 33 years old and a trained electrician. He is employed by the city (public service) in a permanent position with a monthly net income of 2,400.00 euros. We are both currently in tax class 4. We currently have a three-year-old daughter and receive child benefit of 200.00 euros (a second child is planned). We have equity amounting to 20,000 euros. Additionally, we have a car loan with a monthly payment of 234.00 euros, which will run for another 3 years.
Now your personal assessment! Do you think it even makes sense under these conditions to purchase a property with this purchase price? If yes, how could one best finance it or what could a financing plan look like, or is it impossible to say exactly? I know I am still very green behind the ears, and maybe my question is completely out of place here. Thank you in advance.
I have already read up a lot myself but haven’t really become any wiser. Maybe you can give me tips or share experiences regarding financing. I know that everything is without guarantee and absolutely non-binding. It’s just that I am very skeptical about banks and financial advisors, so I wanted to ask for help here so that I don’t look completely clueless when I have my first appointment. My husband really isn’t any help with this! We have found a property (2-family house) in Bielefeld 33719. The purchase price is 350,000 euros without a realtor. The property can be moved into directly; it just needs to be wallpapered once and floors laid (my husband will do that). The property has one residential unit (upper floor) with 60m², which we plan to rent out for 450.00 euros cold (to the brother). We wanted to move into the ground floor with 110m².
Now, a bit about us. I am 29 years old and a trained social worker. Currently, I am in a fixed-term employment contract for 20 hours with a monthly net income of 1,300.00 euros. However, I will soon end this and begin family planning with a second child. Then I will take parental leave for 2 years and afterward look for a new job (which shouldn’t be a problem). I own a small business with a monthly profit of 250.00 euros. There is potential to grow it, but unfortunately, I lack time due to my main job. My husband is 33 years old and a trained electrician. He is employed by the city (public service) in a permanent position with a monthly net income of 2,400.00 euros. We are both currently in tax class 4. We currently have a three-year-old daughter and receive child benefit of 200.00 euros (a second child is planned). We have equity amounting to 20,000 euros. Additionally, we have a car loan with a monthly payment of 234.00 euros, which will run for another 3 years.
Now your personal assessment! Do you think it even makes sense under these conditions to purchase a property with this purchase price? If yes, how could one best finance it or what could a financing plan look like, or is it impossible to say exactly? I know I am still very green behind the ears, and maybe my question is completely out of place here. Thank you in advance.