Saving plan for planned new house construction in 4-5 years

.. just a question .. 2500 net, so about 4250 gross = 51000 annual salary plus bonus etc. do you find that meager for a 28-year-old with 3 years of professional experience in Franconia? What do you think should be possible?

I have to agree with . 51k per year in Franconia with an IT degree is rather an average starting salary. Except the bonus would be 20-25k! But I would rather assume a 3-4k bonus now. However, that means there should still be slight increases possible here.

I would also recommend first watching for 1 year what you can actually save. Write down the balance of the daily allowance account in the calendar. And after a year, you look at what you were actually able to save. A daily allowance account is enough for the amounts at first and is quickly available. If necessary, a mini home savings contract (10,000) also makes sense. Here you have to make sure that you can get it mature for allocation in 5 years.

.. just a question .. 2500 net, so about 4250 gross = 51000 annual salary plus bonus etc., do you find that low for a 28-year-old after 3 years of work experience in Franconia? What do you think should be realistic?

.. I would, as toxicmolotow recommended, simply start by consistently putting what should theoretically be left aside into a daily allowance account for one year. Then you'll gain experience on how easy or hard that is for you. Be flexible if the desire to have children is going to be realized soon. And after that, you can see how to proceed (and of course save ;) ).

Yes, I do find that low. You also have to be willing to be mobile. Every company has a demand for IT colleagues. At our place, only external colleagues are left because no one takes permanent positions anymore. And we are always talking about permanent at AT. That means from 70k upwards.

Just go out to the market and see what is being offered. If you work for a consulting firm, you will be assigned for at least 1500 € daily rate.

Thank you very much for your initial responses.

Regarding one specific question: An owner-occupied apartment is not an option for me because I find the price/performance ratio unreasonable here and I want to remain financially flexible. If I have something that needs repair soon, for example, I want to decide myself when to do it and not be forced into anything by the majority of co-owners.
Moreover, an apartment does not offer me an enhanced quality of life, because I really need my desired garden. And in my opinion, an apartment with a garden is absolutely unrealistic in this price segment. What is asked for apartments here might be acceptable from a market perspective, but what you get for your money does not reflect the value for me.

The feel-good factor in a house is simply greater for me. That is purely a matter of taste, but I would never want to invest that much money for an owner-occupied apartment for my own use.

Regarding the salary: I also assume significant jumps are to be expected here. I noticed this when I switched from my very first position (in-house) to consulting. That was suddenly 14k more. With an employer change, I got even more, with the option that this salary will be renegotiated after the probation period. I think this is to somewhat reduce the investment in onboarding. Since I have been productive from the start, I see clear room here (probation period ends in 3 months). As a starting point, I will demand 15% more.
And then I expect another 4-5% per year.
I also think I am not at my limit, but that is the problem when you have no references and can only rely on salary portals with approximate average salaries.

In addition, I work in the area of digitization/BI, which stands out again due to the current situation. Keyword Industry 2.0.

Something should happen here soon. Otherwise, I will simply switch to the next larger consulting firm, because there is definitely no shortage of offers.

But that is not the topic of discussion here either. For now, I take away as a first point that I will save as much as possible in the daily allowance account. That was the prevailing opinion after all.

A building savings contract for 5 years is somehow not worthwhile in my opinion; I get nothing from it, and I only get the loan interest on the saved amount + loan sum on the building saving contract. And I will definitely need significantly more loan.

Thanks again for the previous responses. Of course, I remain open to more information/thoughts.

Thank you very much for your first replies.

Regarding one specific question: An owner-occupied apartment is not an option for me because I find the price/performance ratio here unreasonable and I want to remain financially flexible. If I have something that I need to repair soon, for example, I want to decide myself when to do it and not be forced into anything by the majority of co-owners.
Moreover, an apartment does not offer me an increased feeling of well-being; I really need my desired garden for that. And in my opinion, an apartment with a garden is absolutely unrealistic in this price range. What is being asked for apartments here may be market-wise okay, but what you get for your money is not reflected in the value for me.

The feel-good factor is frankly just greater for me in a house. That’s purely a matter of taste, but I would never want to invest so much money in a condo for my own use.

Regarding salary: I also assume that significant jumps are to be expected here. I noticed that when I switched from my very first position (in-house) to consulting. That was suddenly 14k more. With a change of employer, there was even more with the option to renegotiate this salary after the probation period. I think this is to somewhat reduce the onboarding investment. However, since I have been productive from the start, I see significant room here again (probation ends in 3 months). As a starting point, I will request 15% more.
And then I think another 4-5% per year.
I also think I am not at the limit, but that’s the problem when you had no references and have to rely only on salary portals with approximate average salaries.

In addition, I work in the area of digitization/BI, which should stand out even more due to the current situation. Keyword Industry 2.0.

Something should happen here soon. Otherwise, I will switch to the next larger consulting firm, because there is definitely no shortage of offers.

But this is not the basis for discussion here either. I take away the first point for now that I save as much as possible in a daily allowance account. That was the prevailing opinion.

A building savings contract for 5 years somehow doesn’t seem worthwhile to me, I get nothing out of it and I only get the loan interest on the savings amount + loan sum on the building savings contract. And I will certainly need significantly more loans.

Thanks again for the previous replies. Of course, I am still open for more information/thoughts.

And job change. If I earn 80k without stress and have externals around me with 1600 daily rates, you have to go into that range too.

I think @tox forgot a zero and means that in 5 years you will have €100,000 :)

You are young at 28/24, and the pursuit of a home of your own is understandable. I also think it’s good that you write that you are only at the beginning of the basics, namely at 0.

Anything can still happen. I agree with Tox’s suggestion to consistently put aside this 1700 and wait.

Nevertheless, with the current salary, even if it may increase, and the desire to have children, I am leaning more towards a used property.
That may not be the goal for everyone, but it can be a start and compromise as a starter for the next/first 10 years.

I think @tox forgot a zero and means in 5 years you will have €100,000 :)

Tox believes that too.