Is the dream of owning a home realistic?

With €4400, after deducting the monthly costs, you have €2100 left to live on. Is that enough for the rest? Calculate it yourself and write it down below. But please don’t try to make it look better than it is. I’m curious.

Save full throttle for 1 year. Cancel everything unnecessary. Start with Netflix and co. Continue with short distances by bike or on foot. Only shop at discount stores. Try to only cover the remaining direct debits. Everyone gets €50 pocket money. No more private spending allowed. That’s how we did it.

That for over 1 year. During that time, plan the construction. Finalize the financing as close to the start of construction as possible.

If the calculation above doesn’t work out with a buffer, leave it.

A beautiful house can also be rented. That does not commit you for decades and you can calmly see where the journey is going.

Also, how can a plot of land in the Stuttgart area cost 67k€, something doesn't add up!? That means, because of the consumer loan, it’s not even a 100% financing. I somehow don’t understand. Aren’t you planning to use your equity for the additional construction costs?

As already said, you will spend something around 2200-2300€ just for living. This doesn’t even include reserves for the house. About 850€ of that is repayment and 950€ interest (approximately). Rent with 1600€ all-inclusive is cheaper. Purely mathematically.

If the high expenses weren’t there it would be doable. Not easily but doable. And I don’t mean spending 500€ less but at least 1500€ less.

At least the alternative is not to commit harakiri.

Currently we live 15 km from Stuttgart. The plot is 50 km from Stuttgart in a rural area. Hence the price difference.

Equity is planned for kitchen, painter, floor, and additional plot costs. Additional construction costs (50k) would need to be planned into the financing.

We are still looking at the rental market. Maybe we get lucky and a good rental apartment comes our way and we are one of 600 interested parties that get the contract. Joking aside.. I am seriously continuing to watch rental apartments. And also saving strictly.

Equity is planned for kitchen, painter, flooring, ancillary land costs. Construction ancillary costs (50k) would have to be planned into the financing.

This is a very bad approach. That means, although you have the money, you prefer to pay over 3% interest on the construction ancillary costs for at least the next 10 years. Doesn't make sense, right?

With €4400, after deducting the monthly costs, you have €2100 left to live on. Is that enough for the rest? Calculate it yourself and write it down below. But please don't try to make the numbers look better than they are. I'm curious.

Save full throttle for 1 year. Cancel everything unnecessary. Start with Netflix and Co. and continue with short distances by bike or on foot. Try to only cover the remaining direct debits. Everyone gets €50 pocket money. No more private spending allowed.

That for 1 year. During that time, plan the construction. Finalize the financing as close to the start of construction as possible.

If the calculation above doesn't work with a buffer, let it go.

With €4400, after deducting the monthly costs, you have €2100 left to live on. Is that enough for the rest? Calculate it yourself and write it down below. But please don't try to make the numbers look better than they are. I'm curious.

Save full throttle for 1 year. Cancel everything unnecessary. Start with Netflix and Co., continue with short distances by bike or on foot. Only shop at discount stores. Try to only cover the remaining direct debits. Everyone gets €50 pocket money. No more private spending allowed. That's how we did it.

That for 1 year. During that time, plan the construction. Finalize the financing as close to the start of construction as possible.

If the calculation above doesn't work with a buffer, let it go.

We already tried to make a breakdown and see if we can implement it like that now. Start is this month:

€4,400 income
- €1,800 loan
- €400 house utility costs
- €580 car leasing (at that time we continued calculating with leasing, but now we are reconsidering)
- €400 fuel (more than before due to longer commutes to work)
- €270 daycare
- €20 children's savings account
- €133 insurance BU (disability insurance)
- €100 TV/license fee (GEZ)
- €150 reserves

Leaves €547 for living expenses, leisure, clothing... plus 2x child benefit.

Vacation/unplanned expenses: from special payments (2x Christmas bonus, 2x vacation pay, 1x profit-sharing)

As I said, we would start this month and see if we can already live like this. Sure, it will hurt here and there... but we have to get through that. And if we realize it's not possible, then move on to rental apartments, see...

Is the above realistic? Did I forget anything?

You can also rent a nice house. That doesn’t commit you for decades and you can calmly see where the journey goes.

I hadn’t really considered that before but I’ll take a look at what’s available here and in rural areas. I just wonder if one might regret it in a few years??