Realistic financing opportunity?

2020-08-10 10:56:53

I don't believe in involving mother, uncle, dog, cat, and the neighbor in the financing just to make it work! Anyone who participates in something like that, I deny them common sense

I fully agree with you. Either you can afford a luxury item like a house or you can't. Especially burdening the parents with it feels like a topsy-turvy world. They have already invested more money besides love than a house costs, and now they are supposed to co-pay for a second house because the children can't manage it. How about getting a second job or delivering newspapers for 400 € instead?

2020-08-10 11:03:18

I can generally understand the opinions expressed here, but without more precise information about the situation of the OP, I would not judge them because of any aspects. I know parents who have financed their children’s entire house, which I do not consider objectionable, because that also strongly depends on the (financial) circumstances. That as an adult one should of course always have a certain pride is another matter, but for me that has nothing to do with the validity of the financing arrangement.

2020-08-10 11:07:48

I am personally completely with you. But I believe the reality looks quite different. The vast majority just don’t make it public.

The OP herself says that her husband probably still has siblings and that due to fairness no major one-time financial gift can be accepted. What do the siblings say about you fully involving the mother in the financing and using her house as collateral? That could also have potential for conflict...

Unfortunately, not much is written about the current cash flow. The 200 euro monthly allowance combined with the lack of equity does make one suspicious whether much is left for necessary expenses/savings during the construction phase for own labor. If the side job works out, all good. But no one knows how the economy and the labor market will develop towards winter (keyword expiration of insolvency protection). New hires on a side-job basis are the first candidates to be cut and banks know this.

For the house, expenses have to be calculated roughly in thousands. If not in tens of thousands. Here it is calculated in hundreds..

No idea. Certainly a gift, but some kind of monthly injections??

Also, not including a second or third person and the partner is not a standard case either.

If you can’t get the house financed, you should reconsider your living circumstances or modify your wishes.

2020-08-10 11:17:03

Now to be clear. How does that add up? 38 years old and still no equity available. At the same time, one is supposed to be modest and frugal?

2020-08-10 11:46:50

Oh come on, don’t be unfair. The house is really economical and modest. The problem in many areas is that a 4-room apartment is already rare and expensive, 5-room apartments don’t exist at all. And renting a house is then really more expensive than financing a house.

2020-08-10 12:08:56

I do not dispute that either. But anyone who has a modest lifestyle should have some savings at that age. Therefore, it would be interesting to know how the current expenses of the OP are broken down.

Realistic financing opportunity?

Ybias78

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