basti009
2021-11-03 14:16:15
- #1
General information about you:
Income and asset situation:
Expense situation:
Expenses already included in other positions can of course be omitted. This list is not final and can be extended or summarized as desired. Please make sure to state all costs monthly, even if they occur only annually!
Housing costs:
Mobility costs:
2 cars, due to home office (4 days a week - soon 3) and parental leave currently hardly any fuel costs.
General information about the property:
What it is about:
We have a nearly paid-off property. This was purchased in 2014 for 200,000 € including additional costs; we invested 30,000 € in interior renovation, 10,000 € in the kitchen, 30,000 € in the garden, 16,000 € in the roof - in total including additional costs and interest just under 300,000 €. Remaining debt: 40,000 € as of Nov 2022.
Basically, we are satisfied, but we wonder if it might get a bit tight with 2 children. The children's rooms are only 13 and 11 sqm large.
In addition, both of us can work from home - an office is missing, at the latest with the second child.
The question is as follows:
Can we afford to build a house and would it bring us much (living space) and comfort (underfloor heating, etc.)? We still want to go on vacation and not have to squeeze every euro three times. An expense plan is currently difficult because from now on we can both work considerably more from home than before - thereby shifting the situation from mobility to more expenses at home. But I think we have proven that we manage well with our salary because we have almost paid off the property after 7 years despite renovation and some costly vacations (Caribbean, USA, etc). However, we hear in the media that new builds are becoming more and more expensive and have no idea what this would roughly cost us - at least a rough direction would be nice. And whether it makes sense to take out another loan instead of being debt-free and able to enjoy life through holidays etc. - through a certain financial independence.
We roughly imagine a house around 140 sqm with a not too large plot (approx. 500 sqm). Land value would be somewhat lower than the current one (250 €) because we live reasonably central - we could imagine moving a bit further out. Estimated land value around 150 €. Would this be enough to at least have a home office room? It does not have to be luxury, one should simply feel comfortable - underfloor heating, for example, would be nice.
Let’s assume we sell the house for 300,000 €.
What would you roughly have to calculate for a house of this size, including all additional costs, garage, kitchen, furnishings, garden, etc.? And what monthly rate could/should we afford?
Would the 140 sqm bring so much added value (I think a basement would be way too expensive)?
Unfortunately, I am not skilled at handiwork - I would like to plan without own contribution - also because of our daughter. How much stress should be expected during construction? Are there providers with actual fixed price guarantees?
As I said, it is first about the question, is it worth it compared to what we have now and roughly how much € would we have to calculate?
Thank you very much!
[*]Who are you? Married, with 1 child (1 year old)
[*]How old are you? 33 years (both)
[*]Are there children? 1
[*]Are more children planned?
[*]What do you do professionally? Public service / soon civil servant / parental leave and otherwise employed at health insurance
[*]Are you employed, self-employed, retired, housewife, househusband, etc.?
[*]How many hours do you work? He: 39 hours / She currently on parental leave, afterwards about 20 hours
Income and asset situation:
[*]What income do you have (gross/net)? Currently he: 2800 € / month, will increase to about 3400 € at least in the next 10 years due to civil servant status, she currently in the second year of parental leave - afterwards about 1,000 € net at 20 hours (previously 2400 € net with tax classes 4/4, soon then 3/5)
[*]How much child benefit is there? 210
[*]Other transfer payments like parental allowance, sickness benefit, etc.?
[*]How much equity do you have? 10,000 € in the account, and a nearly paid-off property (40,000 € remaining debt): Built in 1971, semi-detached house 109 sqm living space + 50 sqm basement, 4 rooms, renovated inside in 2014, garden renewed last year (plot 290 sqm), roof renewed this year. Facade still from the year built with 5 cm insulation. In 2020 the house was estimated by the realtor at 300-340,000 €. Location: Bad Honnef Aegidienberg (53604). Land value: 250 € - at purchase in 2014 it was 100 €.
[*]How much equity do you want to invest in the house project?
[*]The existing house would be sold in case of a new build
Expense situation:
Expenses already included in other positions can of course be omitted. This list is not final and can be extended or summarized as desired. Please make sure to state all costs monthly, even if they occur only annually!
Housing costs:
[*]Current cold rent 1000 € repayment, before parental leave we could always make special repayments of 8,000 € annually
[*]Current warm rent approx. 450 Euro additional costs
[*]Electricity
[*]Gas
[*]Water, sewage, waste fees, street cleaning
[*]Phone, internet, mobile phone
Mobility costs:
2 cars, due to home office (4 days a week - soon 3) and parental leave currently hardly any fuel costs.
[*]Monthly ticket for bus and train (also for the children!)
[*]Car loan (or savings rate for a new car)
[*]Insurance
[*]Taxes
[*]Fuel
[*]Repairs
[*]Miscellaneous
[*]Is there a second car, motorcycle, scooter? Please specify all points again!
General information about the property:
[*]How large is the plot? None in sight yet
[*]What are its dimensions?
[*]What is the land value?
[*]New build, old building (year built), house type? New build
[*]Garage? Yes, please
[*]How large is the house? (living area / usable area) minimum 140 sqm
[*]What is the market value of the plot and house after completion? No idea
What it is about:
We have a nearly paid-off property. This was purchased in 2014 for 200,000 € including additional costs; we invested 30,000 € in interior renovation, 10,000 € in the kitchen, 30,000 € in the garden, 16,000 € in the roof - in total including additional costs and interest just under 300,000 €. Remaining debt: 40,000 € as of Nov 2022.
Basically, we are satisfied, but we wonder if it might get a bit tight with 2 children. The children's rooms are only 13 and 11 sqm large.
In addition, both of us can work from home - an office is missing, at the latest with the second child.
The question is as follows:
Can we afford to build a house and would it bring us much (living space) and comfort (underfloor heating, etc.)? We still want to go on vacation and not have to squeeze every euro three times. An expense plan is currently difficult because from now on we can both work considerably more from home than before - thereby shifting the situation from mobility to more expenses at home. But I think we have proven that we manage well with our salary because we have almost paid off the property after 7 years despite renovation and some costly vacations (Caribbean, USA, etc). However, we hear in the media that new builds are becoming more and more expensive and have no idea what this would roughly cost us - at least a rough direction would be nice. And whether it makes sense to take out another loan instead of being debt-free and able to enjoy life through holidays etc. - through a certain financial independence.
We roughly imagine a house around 140 sqm with a not too large plot (approx. 500 sqm). Land value would be somewhat lower than the current one (250 €) because we live reasonably central - we could imagine moving a bit further out. Estimated land value around 150 €. Would this be enough to at least have a home office room? It does not have to be luxury, one should simply feel comfortable - underfloor heating, for example, would be nice.
Let’s assume we sell the house for 300,000 €.
What would you roughly have to calculate for a house of this size, including all additional costs, garage, kitchen, furnishings, garden, etc.? And what monthly rate could/should we afford?
Would the 140 sqm bring so much added value (I think a basement would be way too expensive)?
Unfortunately, I am not skilled at handiwork - I would like to plan without own contribution - also because of our daughter. How much stress should be expected during construction? Are there providers with actual fixed price guarantees?
As I said, it is first about the question, is it worth it compared to what we have now and roughly how much € would we have to calculate?
Thank you very much!