100k€ equity and no idea yet

Hello everyone,

I have only recently started dealing with this topic and would like to hear your opinion on the financial situation:

Data:

[*]Purchase price: 490k€ incl. incidental costs
[*]Equity capital 100k€
[*]Loan amount: 390k€
[*]Income with partner ~5k€ net. (my bonuses are not included)
[*]Both permanent jobs
[*]1 child benefit + maintenance from the child's father (not me)
[*]No debts / loans
[*]Cold rent: 890€
[*]Average living expenses
[*]2 cars (already paid off)
[*]1 child / second one on the way

[*]The first financial advisor wanted to sell us a model based on a home savings contract. That is much too opaque for me, I prefer an annuity loan

Questions:

[*]Can we afford this?
[*]What financing would you suggest?

Thanks in advance to those who want to help!

Best regards,
W

Hello BeHaEIja,
thank you for your contribution.

Which form or conditions are realistic today? I have already heard from several people who split the loan into two or three parts. What is expected from such a split?

Thanks

Regards,
W

What do you want to build?

Single-family house, semi-detached house?

KFW 55?

Multiple loans provide a certain flexibility regarding special repayments.

Short-term loans are cheap, but carry interest rate change risk.

Hello Che, thanks for your contribution.

DH, which is already under construction (basement is already done). Not a KfW house.

Okay, I understand. Given the current low interest rates, it makes more sense to accept longer terms, right?

Regards, W

I would do it - 15 years; with less than 80% at least 1.8% is certainly possible. There are also people here who are professionally more familiar with it ;)