Sparstrumpf
2015-12-23 18:26:21
- #1
Hello everyone
my lady and I are currently planning to buy our own house from a developer.
However, we are absolutely not sure if we are taking on too much.
Before I write too much, I’d better get to the facts.
Income: Me (36) approx. 3000,- (metal industry)
Woman (30) 1000,- (public service)
1 x child benefit 188,-
Equity capital 100,000,- plus about 40,000,- coming from a
apartment sale in about 2-3 years
Property: Mid-terrace house in an urban location (near city center Neu-Ulm/Ulm "Bayern") Kfw 70 new build, basement and garage
Price 419,000,- + additional purchase costs (total 5%)
Own contribution painting and flooring work (a building savings contract with 10,000,- would be dissolved for this)
We had a conversation with our house bank and received an offer/financing commitment with 1.8% interest and a rate of 1100,-. This rate matches our current rent (excluding utilities) + monthly savings amount, so that should work.
But the price is really weighing on us, is that realistic or normal with our income? ... after all, that’s equivalent to 840,000 DM :)
A tip regarding the 40,000,- (apartment sale) would also be interesting.
I thought maybe to take the bullet Kfw 70 loan and cover it with that amount. Or better to use it as a special repayment?
If any information is missing, just complain, I will add it then.
my lady and I are currently planning to buy our own house from a developer.
However, we are absolutely not sure if we are taking on too much.
Before I write too much, I’d better get to the facts.
Income: Me (36) approx. 3000,- (metal industry)
Woman (30) 1000,- (public service)
1 x child benefit 188,-
Equity capital 100,000,- plus about 40,000,- coming from a
apartment sale in about 2-3 years
Property: Mid-terrace house in an urban location (near city center Neu-Ulm/Ulm "Bayern") Kfw 70 new build, basement and garage
Price 419,000,- + additional purchase costs (total 5%)
Own contribution painting and flooring work (a building savings contract with 10,000,- would be dissolved for this)
We had a conversation with our house bank and received an offer/financing commitment with 1.8% interest and a rate of 1100,-. This rate matches our current rent (excluding utilities) + monthly savings amount, so that should work.
But the price is really weighing on us, is that realistic or normal with our income? ... after all, that’s equivalent to 840,000 DM :)
A tip regarding the 40,000,- (apartment sale) would also be interesting.
I thought maybe to take the bullet Kfw 70 loan and cover it with that amount. Or better to use it as a special repayment?
If any information is missing, just complain, I will add it then.