Doccorzorz
2018-09-11 10:48:29
- #1
Hello everyone,
at the beginning I would like to explain our current framework situation so that you can also evaluate it.
We have the desire to move into our own home as quickly as possible due to exorbitant rent.
General:
- Us: 33M & 29F
- 2 children in the next 5 years
- Income
F: 3150 net (full-time civil servant / private health insurance already deducted, salary increases annually by approx. 50 €, allowances per child 50 €)
M: 3100 net (permanent full-time, IT manager, salary expected to continue to grow)
Annual bonuses: 5000 €
Total: 6250 € net monthly.
The plan is that during parental leave, one parent will stay at home receiving 900 € parental allowance. By adjusting the tax class + child benefits, we come to an income of approx. 4500 net monthly in this case.
Monthly expense situation:
- Rent: 950 €
- Additional costs 200 €
- Electricity, phone, GEZ: 100 €
- Insurances 2x car, 1x life: 145 €
- Club fees: 185 €
- Fuel: 250 €
- Food: 600 €
Total: 2430 €
Therefore, there is a theoretical monthly surplus of 3820 € (2070 € during parental leave).
Equity:
Due to the wedding + extensive travels, we have so far only saved approx. 50,000 € in equity. Our income has only existed for about 2 years, since she was a student before that.
Building project:
Plot: A size of about 350 m² would be sufficient for us; planned budget for this position is 200,000 - 250,000 €.
House construction: We have offers from various construction companies. We want to build a single-family house with approx. 160-170 m² including a full basement. The price range of the offers is around 400,000 € including ancillary building costs.
This results in a capital requirement of 650,000 €. Assuming I finance this fully, this would mean an interest rate of 2.1 % + repayment 2 % over a term of 20 years with a monthly burden of 2235 €.
Accordingly, the monthly expenses would increase by 1500 €.
This would mean disposable capital per month of 2460 € or 494 € during parental leave. (Possibly reduced repayment during parental leave)
Now to the actual question to you:
Do you see this project as realistic? I am currently having a hard time gauging the limit of what burden is reasonably possible and would appreciate your feedback.
Many greetings,
Dennis
at the beginning I would like to explain our current framework situation so that you can also evaluate it.
We have the desire to move into our own home as quickly as possible due to exorbitant rent.
General:
- Us: 33M & 29F
- 2 children in the next 5 years
- Income
F: 3150 net (full-time civil servant / private health insurance already deducted, salary increases annually by approx. 50 €, allowances per child 50 €)
M: 3100 net (permanent full-time, IT manager, salary expected to continue to grow)
Annual bonuses: 5000 €
Total: 6250 € net monthly.
The plan is that during parental leave, one parent will stay at home receiving 900 € parental allowance. By adjusting the tax class + child benefits, we come to an income of approx. 4500 net monthly in this case.
Monthly expense situation:
- Rent: 950 €
- Additional costs 200 €
- Electricity, phone, GEZ: 100 €
- Insurances 2x car, 1x life: 145 €
- Club fees: 185 €
- Fuel: 250 €
- Food: 600 €
Total: 2430 €
Therefore, there is a theoretical monthly surplus of 3820 € (2070 € during parental leave).
Equity:
Due to the wedding + extensive travels, we have so far only saved approx. 50,000 € in equity. Our income has only existed for about 2 years, since she was a student before that.
Building project:
Plot: A size of about 350 m² would be sufficient for us; planned budget for this position is 200,000 - 250,000 €.
House construction: We have offers from various construction companies. We want to build a single-family house with approx. 160-170 m² including a full basement. The price range of the offers is around 400,000 € including ancillary building costs.
This results in a capital requirement of 650,000 €. Assuming I finance this fully, this would mean an interest rate of 2.1 % + repayment 2 % over a term of 20 years with a monthly burden of 2235 €.
Accordingly, the monthly expenses would increase by 1500 €.
This would mean disposable capital per month of 2460 € or 494 € during parental leave. (Possibly reduced repayment during parental leave)
Now to the actual question to you:
Do you see this project as realistic? I am currently having a hard time gauging the limit of what burden is reasonably possible and would appreciate your feedback.
Many greetings,
Dennis