New Single-Family House Construction - Feasibility Assessment

2022-02-22 15:20:23

We are talking here about a realistic assessment of our plan, especially if from summer onwards you will only receive a civil servant trainee salary of 1300€ net.

See this as a trial run for parental leave. Either build up and use some savings beforehand or adjust consumption expenses accordingly. Basically, everything is fine with ~5000€.

2022-02-22 15:28:47

Realistic figures on the expenditure side, nice to see such a thread where the OP doesn’t lie to herself. ;) I think you are generous in your calculation of living costs, have good incomes, good savings rates and have built solid equity. Everything seems consistent to me. I believe you have one zero too many in the "savings rate she" ? Otherwise I would be very impressed. ;) With the insurances, a bit more will be added with property (building insurance, household insurance). In addition, you should be able to set aside a certain savings amount monthly for house reserves. But I think that is no problem with your current incomes. If her income temporarily drops, it should still work — then maybe you have to tighten your belt a bit for 2-3 years. Overall it looks sound to me.

Thanks for your comment. Yes, absolutely right, there seems to have been a mistake. The savings rate for her is actually €900 and not €9000 per month. :)

2022-02-22 15:42:16

It would be too risky for me with a fixed-term training. Despite the status [Beamtin auf Widerruf], the banks will not count the salary and it is not attachable even without marriage. Then there is also the question why someone would do additional training to then earn less net in 3 years?

2022-02-22 17:32:41

I don't see a problem based on the current numbers. It gets tight if there are 3 years of study ahead, you are not married, and then she wants to start a new job and after half a year/a year the kids come right away. Then you can basically only count on about 4,800 euros, and the loan with 2k plus 400 ancillary costs is already 50% of your household income, and that for a few years at first because you don't go full-time again right away. Challenging, but doable. In your place, I would definitely 1) get married beforehand or make the appropriate contract 2) either study or buy a house, my opinion 3) wait for the study to finish, keep saving diligently, and postpone the decision until after the study when it is clear where and how and what she works

2022-02-22 17:44:14

He 26 with equity 170,000

So that's not really difficult if you start saving at 18-19 (dual studies!) and have invested wisely. The last 10 years were free money on the stock market, as the MSCI World had returns of 10%-15% without much effort.

If you wanted to end up with 160,000 (untaxed) euros in 2022, you would have just had to put 713 euros per month into the MSCI World starting in 2012. It works with less savings rate because

There are also some gifts from parents and relatives included here, which have accumulated over the years.

2022-02-22 18:00:27

Young, good equity, good salary, fits. Marry beforehand, makes things a lot easier, otherwise go for it

New Single-Family House Construction - Feasibility Assessment

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