Philipp42
2011-07-05 13:04:22
- #1
Hello,
we (2 adults + 2 children) want to build a house in Hamburg.
Our rough financial plan looks as follows:
Plot including incidental costs and demolition: €190,000
House (140m² + cellar): €205,000 (incl. reserve: €10,000)
Additional construction costs: €35,000 (incl. reserve: €5,000)
Total costs: €430,000
The financing looks like this:
Equity: €90,000
KfW (energy): €50,000
KfW (homeownership): €75,000
Annuity loan: €215,000
For the kitchen and some new furniture, we have another €10,000 equity available.
I earn €3,150 net and also receive 1.25 salaries as holiday and Christmas bonuses. My wife currently receives €900 parental allowance until the end of September and €350 child benefit. At the end of this or beginning of next year, she will initially go back to work part-time (should be about €1,400 net minus €500 childcare).
We want to build a Kfw70 house and will therefore receive €108 per month from WK Hamburg for 10 years.
So far, we are not using Riester pensions, but could imagine taking the annuity loan as a residential Riester.
We plan with a total burden of about €1,400 in the first 3 years due to the interest-only start period at KfW and €1,800 afterwards.
We actually live rather frugally. We have saved the equity in 4 years since finishing our studies. We have no other loans or liabilities.
Is the whole thing realistic or is it calculated too tight?
Regards
Philipp
we (2 adults + 2 children) want to build a house in Hamburg.
Our rough financial plan looks as follows:
Plot including incidental costs and demolition: €190,000
House (140m² + cellar): €205,000 (incl. reserve: €10,000)
Additional construction costs: €35,000 (incl. reserve: €5,000)
Total costs: €430,000
The financing looks like this:
Equity: €90,000
KfW (energy): €50,000
KfW (homeownership): €75,000
Annuity loan: €215,000
For the kitchen and some new furniture, we have another €10,000 equity available.
I earn €3,150 net and also receive 1.25 salaries as holiday and Christmas bonuses. My wife currently receives €900 parental allowance until the end of September and €350 child benefit. At the end of this or beginning of next year, she will initially go back to work part-time (should be about €1,400 net minus €500 childcare).
We want to build a Kfw70 house and will therefore receive €108 per month from WK Hamburg for 10 years.
So far, we are not using Riester pensions, but could imagine taking the annuity loan as a residential Riester.
We plan with a total burden of about €1,400 in the first 3 years due to the interest-only start period at KfW and €1,800 afterwards.
We actually live rather frugally. We have saved the equity in 4 years since finishing our studies. We have no other loans or liabilities.
Is the whole thing realistic or is it calculated too tight?
Regards
Philipp