Hello everyone,
phew, quite a lot came together – thank you very much for the lively discussion! I would like to address all comments and questions that seemed relevant to me. To briefly spoil: The financing conditions have changed (see below). We decided on a different house within the project.
Do you have an ID number from the exposé from Immonet or IS24?
Then one could take a look to see if the questions are answered there.
Otherwise, Viebrockhaus has 3 or 4 standard levels, level 1 for example tiles at 30€/sqm and level 4 with 50€/sqm… something like that.
The Viebrockhaus houses I know can all really be “shown around”. There is definitely no really cheap standard there.
Unfortunately not. The project will only go into regular sales in November. We learned about it through our loan broker, who recommended that we call a real estate agent regarding this. We also had "experiences" with Viebrockhaus. Actually, we wanted to build ourselves about 2 years ago, but back then we did not get the plot from the municipality...
Wait for the answers to the questions, after that you will probably have to add another 50,000 EUR.[...]
Is a cheaper developer an option? Viebrockhaus is more the Mercedes, not the Polo.
We are now calculating with about 50,000 euros in additional costs. However, due to the developer tie-in, there is no option to change.
I don’t see any reason to paint the devil on the wall here, it’s all a matter of organization and improvisation.
Based on the experiences of my parents and my wife’s parents, I agree. First, things turn out differently, and second, than you think.
Joking aside: We think that someday one should dare such a step. At least we do not want to live permanently in a (eventually) 3-room apartment for 1,500 euros cold rent. Not when both parents work a large part from home.
Don’t forget please the purchase incidental costs, if it really is a developer project.
What do you mean by that? According to the project developer, all costs are settled with the purchase price, except: Quote:
"Possibly wall and floor coverings, painting services, as well as garden areas."
Costs too conservative,
Have you also looked at existing houses?
We made an Excel spreadsheet for the costs with the monthly expenses. It includes all costs that arise for us when purchasing a single-family house. Thus, we arrive at a surplus of:
after deduction of:
food, clothing, personal care, car insurance, car tax, car fuel, car repair reserve, term life insurance, combined legal insurance, liability insurance household, expenses for culture, leisure and entertainment, vacation, property tax + building liability insurance, additional operating costs (garbage etc.), heating costs, maintenance reserve (0.5% purchase price), electricity, water, special repayments, telephone/internet
still 1,800 euros (1,000 euros special repayment per month included). Too little?
By the way, I must agree with Kati1337 despite objectivity. In the work colleague circle, we have also experienced the start of work after about 6 to 12 months for those who built. I want to emphasize quietly that it was no different for me as a child either. Maybe I am messed up in a few areas, but basically, it worked out...
All that just so you can afford your own home. Kids want time with their parents and not a 30k€ kitchen with high gloss fronts. [...]
All in all, I would therefore not deviate from the project. You still have family in the area etc. So it will certainly not be as comfortable as you have currently calculated it, but certainly doable. Life usually turns out differently than one thinks.
I find it a little presumptuous to claim that we only want our own home to “show off” with a home. We have been calculating for several years and are now of the opinion, due to a secured financial situation, that we can afford a home. As can be seen from our savings, it was never our goal to acquire luxury goods in the form of furniture, but to let our (future) child grow up in the countryside and in peace (we also want to experience peace outside the big city). However, this is difficult to implement nowadays.
How good are your chances to improve your salary over the years?
Or will you stay roughly at the current level until retirement?
Relatively good. My wife will be promoted to the next pay group in spring 2023 (about 450 euros net more). After that come experience levels. However, as of today we do not want to count on that. For me, the next increases will come in 2 and 5 years respectively (each also 2% and 5% additionally). Then collective agreement increases, since I am already in the last pay group.
It’s not only the children who benefit from this, especially educated women with good jobs do not want to stay at home for years just changing diapers
I think my wife would confirm this! She likes her work (according to her statement).
It was not about isolating the child at home but about the OP calculating with 3-6 months parental leave and then full-time for both parents to be able to afford their own home.
See above. It is not about that. I will not comment further on that.
The OP also still has considerable reserves in the depot (even though the values are probably not looking super great right now).
And calculating completely as if the partner never earns money again in life, I find that a bit far-fetched.
But basically the OP has the possibility through income and equity to buy some flexibility here and there. Whether he now uses it to keep more money outside the home (with which you can also cover many unexpected situations) or uses it to lower the rate now and take on less debt... just that you can discuss that alone seems to me to mean "there is enough room for maneuver."
Here I want to drop a bomb:
We have now decided on a different house in the same new development project. New data as follows:
General about the targeted property NEW:
[*]From the developer
[*]Including plot (approx. 430 sqm), fully developed
[*]Viebrockhaus Kfw 40 Plus house (138 sqm, 4.5 rooms, heat pump, photovoltaic) including interior finishing (without kitchen), including lawn (without hedge)
[*]Purchase price: 540,000 euros - thus 55,000 euros less
[*]Purchase incidental costs: 37,800 euros
[*]Total costs: 577,800 euros
[*]4 partial payments are due
[*]Loan amount: 431,000 euros (146,800 euros equity - difference to previous by depot liquidation + 10,000 euros from parents)
[*]Interest rate: 4.04% (previously: 4.16%)
[*]Installment: €1,989.78 at 1.5% repayment (previously: €2,290 at 1.25% repayment)
[*]Special repayment: 5% of the loan amount (we calculate with 12,000 euros p.a. which we will repay specially)
[*] Fixed interest period: 30 years
[*] Repayment change possible twice free of charge
What is the money in the depot saved for? What is it intended for?
Addendum: If you don’t spend your saved money on these things, will you manage to retire early and spend it, or will the money simply be taken to the grave or inherited?
We wanted to park the excess income in appropriate assets. Goals that we defined for ourselves many years ago:
- Financial independence (meaning less worries), own home, retirement. If anything remains – inheritance – pragmatism.
Besides all the kid discussion, I have not found the fixed interest period. With the interest rate it should be 20 years or have interest rates risen so massively in recent weeks? 12,000.--€ special repayment/year is unrealistic, at least in the first 10 years
See above: 30 years (as of today).
Regarding the special repayment I somewhat agree: The first 2 years it will certainly not be 12,000 euros. There are too many unknown variables for that. After that, I see less of a problem in that. Ultimately, this is in my opinion an endless discussion because it is assumed that this amount is basically not specially repaid. We have saved our assets without help (and not consumed), so I see a realistic chance here to make the special repayment.
As mentioned at the beginning, we would like to thank everyone for all comments, which we also take into account. We look forward to answers regarding the changed financing situation! Because we also had concerns about the originally stated loan amount (especially with regard to the parents and "child" time).
Best regards!