Bauanfänger36
2017-07-15 09:19:16
- #1
Here are the key data:
Plot with purchase incidental costs and demolition: 180K
Danwood Point 123 with foundation slab: 180K
(turnkey with painting and floors)
Additional construction costs: 40K
Carport and outdoor facilities 10K
---> Total 410K
I am a civil servant.
Net net currently (Christmas bonus included) after private health insurance:
3060 Euros
Net net from 2018 (Christmas bonus included) after private health insurance:
3150 Euros
Financing 1
BHW construction loan building savings contract 250,000 (2.07% for total term)
KfW 1 100,000 (1.56%)
KfW 2 20,000 (1.46%)
Equity 40,000
Rate in the repayment-free year: 940 Euros
Rate until 2032: 1200
Rate from 2032: 1510 (if KfW 2 repaid: 1430)
[RISIKO: Zinsbindung KfW 1: 10 Jahre]
(+ life insurance annually 400 Euros)
Financing 2
Debeka
Bank loan 208,000 (2.2%) --> term 30 years
Civil servant loan 62,000 (2.49%) --> term 23 years
KFW 100,000 --> term 10 years
Rate: 1386 Euros
[RISIKO: Zinsbindung KfW 1: 10 Jahre]
(+ life insurance annually 400 Euros)
I have kept a detailed Excel household budget for three years and noted everything down. I am frugal but not stingy. I have about 1700 Euros left over monthly, from 2018 probably 1800 Euros.
Critical voices in my circle of acquaintances:
- "Building a house alone is too risky."
- "You only live for the house."
- "What will you do when wife and children come."
- "Don’t choose a cheap prefabricated house provider."
- "You always have to reckon with 20% extra costs; the 40K then become your ruin as subordinate loan."
- "The house doesn’t have a basement."
- "Whether the house really gains value in your nowhere town if you have to sell it..."
- "You pay until you retire and beyond."
- "You can never work part-time."
Positive voices:
- "Unterminable contract and 3000 Euros net. Many families don’t have that."
- "You can always sell the house again."
- "The interest rates are still low now."
- "Just add the basement, then it just costs 150 Euros more per month."
- "Boom region. Value increase guaranteed."
- "You earn 2% more each year. In 10 years the rate will be less than one third of your income."
- "Thanks to your salary increases you make special repayments and will be finished in 20 years."
What do you think?
Plot with purchase incidental costs and demolition: 180K
Danwood Point 123 with foundation slab: 180K
(turnkey with painting and floors)
Additional construction costs: 40K
Carport and outdoor facilities 10K
---> Total 410K
I am a civil servant.
Net net currently (Christmas bonus included) after private health insurance:
3060 Euros
Net net from 2018 (Christmas bonus included) after private health insurance:
3150 Euros
Financing 1
BHW construction loan building savings contract 250,000 (2.07% for total term)
KfW 1 100,000 (1.56%)
KfW 2 20,000 (1.46%)
Equity 40,000
Rate in the repayment-free year: 940 Euros
Rate until 2032: 1200
Rate from 2032: 1510 (if KfW 2 repaid: 1430)
[RISIKO: Zinsbindung KfW 1: 10 Jahre]
(+ life insurance annually 400 Euros)
Financing 2
Debeka
Bank loan 208,000 (2.2%) --> term 30 years
Civil servant loan 62,000 (2.49%) --> term 23 years
KFW 100,000 --> term 10 years
Rate: 1386 Euros
[RISIKO: Zinsbindung KfW 1: 10 Jahre]
(+ life insurance annually 400 Euros)
I have kept a detailed Excel household budget for three years and noted everything down. I am frugal but not stingy. I have about 1700 Euros left over monthly, from 2018 probably 1800 Euros.
Critical voices in my circle of acquaintances:
- "Building a house alone is too risky."
- "You only live for the house."
- "What will you do when wife and children come."
- "Don’t choose a cheap prefabricated house provider."
- "You always have to reckon with 20% extra costs; the 40K then become your ruin as subordinate loan."
- "The house doesn’t have a basement."
- "Whether the house really gains value in your nowhere town if you have to sell it..."
- "You pay until you retire and beyond."
- "You can never work part-time."
Positive voices:
- "Unterminable contract and 3000 Euros net. Many families don’t have that."
- "You can always sell the house again."
- "The interest rates are still low now."
- "Just add the basement, then it just costs 150 Euros more per month."
- "Boom region. Value increase guaranteed."
- "You earn 2% more each year. In 10 years the rate will be less than one third of your income."
- "Thanks to your salary increases you make special repayments and will be finished in 20 years."
What do you think?