Is our new building realistically financeable?

2021-03-08 21:17:46

, Yaso2.0 Both apply, at least for us... if it were just the two of us, our world and plan would be dramatically different... Even if not because of a large inheritance/gift, the child's age must be taken into account regarding finances/work so that the child can be supported until independence is achieved.

2021-03-08 21:40:40

Yes, we can and have reserved a plot with the municipality for 3 months and have arranged initial appointments with the bank, financial brokers, and solid and turnkey construction companies.

I am sure the banks will welcome you with open arms and the house companies will be able to give you the necessary feeling for the approximate house costs that will arise.

Let the child go to university first

I don’t want to hijack the thread of the original poster.

In any case, I have a different view regarding this topic :)

2021-03-08 21:56:04

That has nothing to do with cognitive ability. The topic is so far away at 30 that the notices weren’t even opened anymore.

Yes. It does have to do with cognitive ability. And that can certainly be expected from a 30-year-old. If the 30-year-old wants to possibly finance a house until 70 or even longer, even more so. We’re not talking about a 15-year-old here.

Retiring earlier or paying off the house in time is a financial aspect; another aspect is health and the children, although this again leads back to financial matters.

If you earn less, you have to pay off longer or until retirement age and simply can’t retire earlier. If you only become a parent at 40, you will also work longer because of the children to support them as best as possible.

I myself am 39, and at the moment the plan is to have the house paid off in 12 years. After that, I will support the children and provide for retirement at 60. All under the assumption that my own little world stays intact.

You’ve made quite a steep learning curve. From the 30-year-old who wasted no thought on the future and left pension notices unopened, to the 39-year-old who has the future clearly in mind including financing that will be finished by 51. Respect..

2021-03-08 22:11:48

You’ve had quite a steep learning curve. From the 30-year-old who didn’t give any thought to the distant future and put pension notices away unopened to the 39-year-old who has a clear vision of the future including financing, which will be settled by 51.
Respect..

Who can, can... nice that you were already thinking about retirement at 30.

2021-03-08 22:20:58

Let the child go to university. University towns are all expensive. €400 for a shared flat room is completely normal here and almost cheap. Then add living expenses, bus ticket, and you easily have a €800 burden per month for the child. Minus child benefit, let's say €600. Without financing luxury. And if you think there is Bafög for that, then I have to disappoint you. First, it’s nowhere near enough; second, it gets mercilessly cut if the parents have the typical income of a homeowner. And third, you get into conflict if you meant well back then and set up a building savings contract/etc for the child that now unfortunately exceeds the asset limit. And if you have the child at 40 and they study until 25… then forget retirement at 63 ;)

Where have the times gone when kids didn’t let themselves be fed through to finance their studies including living expenses – but hey, there are parents who give, and children who take (and spend with both hands). Money you don’t earn yourself, you don’t appreciate – however, I see that most helicopter parents probably see it differently.

2021-03-08 22:26:53

Who can, can... nice that you already thought about retirement at 30.

If you finance your entire life on your own from 20 and have no inheritance in sight, it's not as far-fetched as it seems to you. At least you need a rough estimate of what to expect.

But I wouldn't mind a warm rain of money either :)
Then I would have ignored everything at 30 and mentally been in early retirement at 39. And that's not meant ironically. I wish that to everyone. The only question is whether you have to share that unsolicitedly. But that's up to everyone themselves.

Similar topics
08.04.2013	How to finance buying a house?	19
28.05.2013	I am getting a plot of land as a gift. How do I finance the construction?	16
17.11.2013	House purchase, renovation, outdoor facilities / financing mortgage loan	10
29.03.2015	Financing suitable building land separately before house construction	15
13.08.2016	Extension to the parental home: questions about inheritance and land division	17
05.09.2017	Finance land/house separately - fixed interest rate	11
05.10.2017	Forced auction and modernization financing	12
13.10.2017	Bank loan to finance house purchase during parental leave	13
02.06.2018	Buying a house from the father - how to best finance it?	13
04.02.2020	Finance land and build later	11
18.01.2020	Inject equity or finance completely?	20
06.07.2020	Finally a plot - Can we finance everything with EFH?	72
21.04.2020	Beginners: Financing a single-family house with land	14
23.06.2020	Financing a house alone or already building/buying one!?	35
27.06.2020	Financing a single-family home beyond retirement?	47
14.11.2020	Financing a New House: Is Mortgage Swap Sensible or Not?	21
01.12.2020	Finance land now and build later	15
25.10.2021	Buying a house from grandma or waiting for the inheritance?	27
26.10.2021	Small techniques of inheritance into the amount of financing?	25

Is our new building realistically financeable?

chyogoo

Yaso2.0

moHouse

Zaba12

askforafriend

moHouse