Question about the financing offer

Yes, we have "lived" well so far. We are Swabians and like to save, but we have also been on big trips several times ... hobbies etc. were not cut back either.
But of course, when you have such a project now, there is no more vacation. We are aware of that.
We can handle the burden; we have already brought up this amount in recent months.
For the sampling, we already have over €10,000 in the budget, and we didn’t want to allocate everything, as we still have reserves for possible unforeseen expenses.


Ever basements under an already standing house?!
If you don’t plan a garage etc. now, then when?


Thanks for the hint.
What would be alternatives, for example? 1x 50k and once 100k?
My existing one with already existing savings will be converted/contributed.

But of course, when you now have such a project, there’s no more vacation. We are aware of that. We can handle the burden; we’ve already managed that amount in recent months. For the selection of materials, we already have over €10,000 in the budget, and we didn’t want to budget everything, as we still have reserves for any unforeseen expenses.

And you think it’s that easy? Do you really want to permanently give up vacation because of a house? I actually don’t know any homebuilder who does that, and that’s a good thing. Those who have to calculate like that (no more vacation) would have been better off not building. We also have a €500k loan... but with a matching income and over €300k equity. €10,000 for a selection reserve is also not much. What about the outdoor facilities and the thousand things that come after building the house? How will you pay for that? There’s no money left from your income. Do you have an idea what children cost and how priorities shift then? I can only wish you that no bank finances that. Unfortunately, banks are often greedy and let you walk into a trap. Peter Z. is happy

I also find the rate at that income already close to the pain threshold but doable WITHOUT a child!... a few euros net more per month and it already looks a bit better. We currently have a similar monthly burden (loan for condominium + savings rate), although we also have about €600 more per month available, but exactly those €600 certainly also partly go towards our offspring (1 child).

We have a funding gap of 70,000 euros with a household income of 5,500 net and are pondering day and night whether yes or no. Children already out of the house.

Portoalegre

We have a funding gap of 70,000 euros with a household income of 5,500 net and are considering day and night whether yes or no. Children already out of the house.

Portoalegre

Well, that is quite cautious then

I do not know the exact details of your contract, but an example:

3,500 (gross) * 12 = 42,000, of which 4% = 1,680, with 10 years of savings period makes 16,800, then depending on the contract set as the savings amount, e.g. 30%, so 56,000 BSS. This should be pretty close to the highest funding rate. If the interest rates are guaranteed longer for advance loans and Riester loans possibly also a bit longer.

By the way, the maximum subsidy is 2,100 euros p.a., so a Riester contract with 10 years lead time (interest rate fixed advance loan) and 30% contribution only makes sense up to a maximum of 70,000.

*always individually exactly depending on the contract components.

**Each case must be considered individually, so I always become skeptical when two identical amounts are offered. Then someone has not understood or simply does not know better/wants to sell.