BackSteinGotik
2020-09-05 10:06:30
- #1
Is the separation of the residential units in grandma’s two-family house officially and completely done? Otherwise, it is indeed difficult at that point.
Otherwise, if promotions in the public sector are really about to happen, buy a property now and save properly. You don’t pay rent and have no children. Keep a household budget, reduce consumption and significantly increase the savings rate.
Having €20,000 outstanding on the car loan is of course already a red flag if you really want to move towards building a house with that income. Don’t get me wrong: the household income isn’t bad, but cars for more than €20,000 on credit when you want to build a house? You need equity, equity, equity – at least to pay incidental costs and get out of the 100% financing zone. You can’t cash in the house share, so you have to save real capital and get rid of debt. Can the cars be sold sensibly, switch to cheaper models and release capital? The older they get, the more worthless they become…
Otherwise, if promotions in the public sector are really about to happen, buy a property now and save properly. You don’t pay rent and have no children. Keep a household budget, reduce consumption and significantly increase the savings rate.
Having €20,000 outstanding on the car loan is of course already a red flag if you really want to move towards building a house with that income. Don’t get me wrong: the household income isn’t bad, but cars for more than €20,000 on credit when you want to build a house? You need equity, equity, equity – at least to pay incidental costs and get out of the 100% financing zone. You can’t cash in the house share, so you have to save real capital and get rid of debt. Can the cars be sold sensibly, switch to cheaper models and release capital? The older they get, the more worthless they become…