New single-family house 140 - Is it financially feasible like this?

Good evening,

I agree with the previous speakers, the rate of 1500 euros should be quite manageable. I think then you are at 2000 euros with the ongoing costs (including a small reserve). The parental leave should not be extended over several years.
Regards

Thanks also to you for your feedback! It is planned, as long as daycare places are available, to return to work at 50-60% after one year of parental leave.

So with your salary, the rate is definitely manageable. For comparison: Our rate is about €1,000 higher (here the price per sqm is €500 and the house is bigger). Before the birth of our first child, we also had just under €7,000 available monthly together. My wife took one year of parental leave, since then she works 30 hours a week and our child is with the daycare provider and two afternoons a week with the grandparents.

Current situation:

Income: €7,200 (incl. [Kindergeld] and I have had a salary increase)
Housing costs: €3,000 (house rate and all costs related to living)
Partner’s car: €500 all in (I have a company car)
Daycare costs: €550 (I hope that is cheaper for you)
Vacation savings: €350
Child expenses: €400
Groceries/adult food: €800
Clothing, leisure, insurance, etc.: €400

Remaining: €1,200

We are saving the remainder for now. A second child is planned, so one more year with lower income will have to be bridged and then higher expenses will arise. Nevertheless, there is still enough buffer for special repayments, for reserves (repairs and renovations), and also in case the follow-up financing would become more expensive at the end of the fixed interest period.

In other words: You are doing pretty well financially and the housing costs are in a very good relation to your overall situation.

Ergo: You are doing quite well financially and the housing costs are in a very good ratio to your overall situation.

Thank you very much for the brief detailed insight into your numbers! That reassures me a lot right now. In fact, the numbers are comparable and that helps us a lot. Because with us, the daycare fees/nanny are just as high. The expenses for groceries and co. are also realistic and thus comparable to our expenses! Thanks for that!

thank you very much for the brief detailed insight into your numbers! That really reassures me right now. In fact, the numbers are comparable and that helps us a lot. Because with us too, the daycare/nanny fees are so high. The expenses for groceries and co. are also realistic and thus comparable to our expenses! Thanks for that!

I also see this as very comparable. Don't worry. Above all, there are certainly one or two levers to turn if it ever gets tighter. In the past, we spent quite a lot of money on long-distance travel and restaurants. Since we have offspring, we haven't been on vacation at all, and this summer we're going to the Baltic Sea for the first time. Instead, we spend a lot of time in the garden, which we didn't have before.

I also see that as very comparable. Don’t worry about it. Above all, you certainly still have one or the other adjustment option if things get tight. In the past, we spent quite a bit of money on long-distance travel :) and restaurants. Since we have children, we haven’t been on vacation at all, and this summer we are going to the Baltic Sea for the first time. Instead, we spend a lot of time in the garden, which we didn’t have before.

Yes, that’s certainly true. I actually do see potential for savings with us as well, so we could free up money that way, because with a child, leisure activities (stadium, skiing..) will initially decline. :)

Thank you also for your feedback! It is planned, provided there are [Kitaplätze] available, to go back to working 50-60% after one year of parental leave.

Where does the idea that you only work part-time once the child is born actually come from? If you want to, you can manage both full-time even without grandparents nearby; it’s not as comfortable, but it works.