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

How do children of low-income earners grow up?

That depends on the salary. Everywhere the federal state does not provide support, there are salary tables for SK & LK and the corresponding childcare costs.

There is also child benefit, which certainly helps. The first two years, when you don’t have to pay for childcare, it already covers the costs - unless you absolutely want to buy golden little shoes.

However, it is a misconception that full-time work suddenly becomes possible once school starts. On the contrary, that’s when it begins that you have to drive the little ones to their hobbies.

It is true, in your preferred version you lose a lot of income. At first, I thought 55k€, that will never add up... But it does quite quickly. I don’t believe you can keep that much in reserve, sorry. That’s simply too much. If it is so important to you that Mom takes such a big and long career step back, the house is not going to happen.

I am really not an advocate of putting the children in daycare for as long as possible (for us, the standard care time was 10 hours), especially not from the very beginning. But something like 8 to 15, picking them up after coffee... Then you can work 75% (if you don’t have a long commute), and have the afternoon with the child together... I find that quite reasonable from the age of three onwards. But every family has to decide that for themselves. You just might not be able to afford everything at the same time: house and housewife.

And PS: Dad could maybe do a dad-afternoon once a week? And give Mom a bit of breathing room? Something to think about...

That depends on the salary. Wherever the federal state does not provide funding, there are salary tables per SK & LK and the corresponding childcare costs.

Of course I know that... I was in that position myself for years.

Regarding the length of childcare, I see it differently from a professional perspective. 8 a.m. to 3 p.m. is an incredibly long time for the children. That's work in kindergarten and exhausting! Children today are institutionalized so early just so parents can fulfill their wishes (their own, mind you). Better to start earlier and pick up the child at 12:30 p.m. Then there’s a rest period and afterwards you still have some time left in the afternoon. Or sometimes work from home.

I started with 15 hours but had a day nanny. I found that much nicer, because it was more familial and flexible.

If you get the loan and trust your future self: Go for it. Some things will still change in the future. I don’t understand at all why only the negative potential (oh children) is always seen, but positive developments are dismissed with 'you can’t count on that.' Play it safe, no risk. Why even? Not everything ends immediately in personal bankruptcy – and even if it does, it starts again after three years.

For me, it’s simple: as long as I have a roof over my head for me and my family and nobody is hungry for long, and everyone is reasonably healthy, everything is fine. Everything else is a bonus. That’s why you can take a bit of risk sometimes.

If you get the loan and trust your future self: Go for it. Some things change again in the future. I don’t understand at all why only the negative potential (oh kids) is always seen but positive developments are dismissed with ‘can’t be counted on’. Play it safe, no risk. Why else? Not everything ends immediately in personal bankruptcy – and even if it does, it starts over after three years.

Above all, not everything always goes according to (time) plan..

Above all, not everything always goes according to (time) plan..

And let's be honest: the biggest risk in such financing lies less in the financial aspect and more in divorce. Maybe we should include this in the questionnaire: when married, couple therapy successfully completed, affairs yes/no? That would give the whole thing more pep