Hello everyone,
phew, quite a lot has come together – many thanks 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 have decided on a different house within the project.
Unfortunately not. The project does not go into regular sales until November. We got this advice from our loan broker, who recommended that we call a real estate agent regarding this. We also had "experiences" with Viebrockhaus. We originally wanted to build ourselves about 2 years ago, but back then we did not get the plot of land from the municipality...
We now estimate around 50,000 euros in additional costs. However, due to the developer's binding, there is no option to switch.
Based on the experiences of my parents and my wife’s family, I see it that way too. Firstly, things turn out differently, and secondly, than you think.
Joking aside: We believe that at some point you have to take such a step. At least, we do not want to permanently live in a (eventually) 3-room apartment for 1,500 euros cold rent. Not when both parents work mostly from home.
What do you mean by that? According to the project developer, all costs are covered by the purchase price, except: quote:
"Possibly wall and floor coverings, painting services, as well as garden areas".
We have created an Excel table for the costs with the monthly expenses. It includes all costs that arise for us when acquiring a single-family home. Thus, we come to a surplus of:
that is, after deduction of:
food, clothing, personal care, car insurance, car tax, car fuel, car repair reserves, term life insurance, combined legal protection insurance, liability and household insurance, expenses for culture, leisure and entertainment, vacation, property tax + building liability, additional operating costs (garbage etc.), heating costs, maintenance reserve (0.5% of purchase price), electricity, water, special repayment, telephone / internet
of still 1,800 euros (including 1,000 euros special repayment per month). Too little?
I must, by the way, agree with Kati1337 despite objectivity. In my work colleague circle, we experienced the start of work after about 6 to 12 months as well, those who built. I want to emphasize quietly that it was no different for me as a child. Maybe I am a bit spoiled in some areas, but basically it worked out...
I find it a bit presumptuous to claim that we only want a home to "show off" with it. We have been calculating for several years and now, based on secured financial circumstances, believe 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 quietly (also, we want to experience the peace outside the big city). However, this is difficult to implement in today's times.
Relatively well. My wife will be promoted to the next salary group in spring 2023 (about 450 euros net more). After that, there will be experience steps. However, we do not want to count on that as of today. For me, the next increases come in 2 and 5 years respectively (each also 2% and 5% additionally). After that, collective agreement increases, as I am already in the last salary group.
I think my wife would confirm this! She likes her work (according to her statement).
See above. That's not the point. I will not go further into this.
Here I want to drop a bomb:
We have now decided on a different house in the same new development project. New data:
General about the intended property NEW:
[*]From the developer
[*]Including plot (about 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
[*]Additional purchase 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%)
[*]Rate: 1,989.78 euros at 1.5% repayment (previously: 2,290 euros at 1.25% repayment)
[*]Special repayment: 5% of the loan amount (we expect 12,000 euros p.a. special repayments)
[*]Interest rate fixed for 30 years
[*]Repayment change possible twice for free
We wanted to park the surplus income in corresponding assets. Goals that we defined for ourselves many years ago:
- Financial independence (in the sense of less worries), home ownership, retirement. If anything remains – inheritance – pragmatism.
See above: 30 years (current status).
Regarding the special repayment, I partially agree with you: The first 2 years it will certainly not be 12,000 euros. There are too many unknown variables. After that, I see less of a problem in that. Ultimately, in my eyes, this is a never-ending discussion, because it is assumed that basically this amount will not be specially repaid. We have saved our assets without help (and not consumed), so I see a realistic chance 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 stomach aches with the originally stated loan amount (especially considering the parental and "child" time).
Best regards!