Shortly before the completion of the financing

sounds good, so it fits your Hamburg plan

We are only a little worried about the - for us incalculable - costs with children and possibly limited income. I do believe we would manage everything even with a loan burden of €1550 - but here there are people with exactly that experience :)

OK

that means you have approx. 21k gross premiums, approx. 13k net

13k + 8.4k monthly savings = 21.5k savings per year. Would say very decent.

Now the exciting question, how much equity do you have now :)

In my calculation, it would be more like 9500 net - premiums are taxed at almost 60% :'(

I unfortunately don't see any costs caused by the child in your calculation. Kita, clothing, meal money, etc. [kitaplatz] is only free for 5 hours and you don’t get offered that in Hamburg – plus with 5 hours of work + commute time you usually end up with 8 hours of care. Do you then possibly need a second car because of a remote area/poor transport connections or the child has to go to occupational therapy 3 times a week.... Sometimes you just don’t have the energy to do everything on foot. So I think in the first year of life children cost little, but I don’t know any parents who don’t also buy a new bike or the 5th pair of shoes in the year now and then. And holidays also get more expensive, even if it’s just camping. We are also building in Hamburg, both working full-time, children 2 years and 6, and I can only say if possible try not to plan with full-time work. You age tremendously. For us, however, there is no financial background to this, but there are jobs that don't allow part-time. PS: our rate is €1550 and equity was similar, project costs >€500k for a 150 sqm gable roof house with a small plot. We have €6500 net available, however.

Hi , thanks for your comment. We have increased the cost of living by €400, which is supposed to be for the child. Whether that works out - no idea. That's exactly why it fuels our fear. We wouldn't need a second car, as we will be commuting to work by train and it is within walking distance. So, one car available for free use. A daycare spot is actually a tricky thing. It would probably cost around €400, grandparents are also nearby if things get tight, but it is not the plan to permanently "park" the child there. We are definitely willing to limit ourselves on vacations during the years with toddlers. My wife is from Italy and we have an apartment owned by her parents there, which we could use for vacations anytime. I speak from experience there; €1000 is enough for 3 weeks for all of us together.

Ok, that is then a good prerequisite, daycare costs vary extremely, friends in Schönefeld near Hamburg pay 900€ for 2 children full-time, which quickly brings up the thought that one parent stays at home. What does your project cost? Especially with a "developed" plot I become alert. If the driveway is long, you quickly exceed 30,000€ for development, and that's just for water, electricity, telecom from the street to the house. And no one wants to deal with unpaved surfaces for a long time either, then you have mud in the house – people always forget that. Also make sure if the plot is really flat, otherwise you have to add support structures etc.