Is the construction project affordable? 570 k€ loan with a 5300 € salary

  • Erstellt am 2021-04-06 23:57:06

Zaba12

2021-04-07 14:08:50
  • #1


And exactly this feeling is what I’m talking about as writes, but I also connect it with monetary wishes, because what you write I have largely and actually just think further now.
Whether you finance less because you can afford it and want to keep this relaxed feeling, or have a paid-off house at 50, the feeling is basically the same. Because the pressure to stay healthy, keep the job, work full time, be able to pay the installment, etc., is gone.

The OP will not reach this feeling in the coming decades with the amount and salary (currently only without children).

totally my attitude :)

We are currently at the point where good salaries have to finance amounts that are unhealthy and don't let you sleep.
 

Bookstar

2021-04-07 14:19:20
  • #2
You can forget about 2200 euros in Bavaria, currently it's rather around 2,700 euros from the general contractor. Wood prices and insulation have risen massively. Concrete too.

Where are the planning costs? Do you really believe 10% incidental costs? The general contractor alone takes about 50,000 euros as profit/risk surcharge on something like this. Better set the incidental costs at 70,000 euros. The rest I think fits, but then I come up with 120,000 euros more. And a price per sqm under 400 euros you can also completely forget, unless it is located 100 km away from the next city, and that only exists in a few spots in Bavaria.
 

askforafriend

2021-04-07 14:30:04
  • #3
no problem for OT, the OP unfortunately doesn’t respond anyway :/
 

minimini

2021-04-07 14:54:01
  • #4


I don't think it's so off-topic at all, our lifestyle is similarly frugal as you describe. That's why we could save well (and yes, at least one of us didn't have any education costs thanks to their parents' home and has therefore been able to save forever) – those are just the priorities. If I want to have any kind of indulgences in life, then it might no longer be enough for the dream house without reprioritizing. Everyone just has to be happy with what they've chosen.
 

Altai

2021-04-07 15:03:01
  • #5
So I have about 80 net salaries as a loan. And when everything that needs to be paid is paid, including a reserve for vacation and car, then I have about 10% of the net amount left as a free amount with which I can start whatever I want. That is too little for me to be relaxed, to be honest. There are simply too many "holes" where I could put it: the famous special repayment, the parking space still wants to be paved, my parents supported me, but they want that back... not to mention any kind of "luxury" (I would really like to learn how to ride a motorcycle, for example). That will not be possible for a very long time without guilt. And the raises? You can forget about that... Inflation immediately eats them up. This year: +1.3%, that already went directly for the increased energy costs thanks to the CO2 price (gas, electricity, fuel).
 

askforafriend

2021-04-07 15:47:52
  • #6
You can also "treat yourself" and pay 40-50 net salaries in rent until 70 – that's just not how saving works. Either consumption or wealth building. Both only work with a high income.
 

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