Ask if home financing is feasible

  • Erstellt am 2014-06-11 20:28:49

Alfonso

2014-06-12 17:17:21
  • #1
Hello and thank you for all the suggestions, concerns, and tips. I have now decided to put it on hold for the time being and save equity for 2 years. More than 100% financing would not have been an option for me anyway – although my house bank would have also given me the 268,000 (107%) with an effective interest rate of 2.94% and 3% repayment. But that's exactly what it's about for me – what is healthy, and I think I will save as much money as possible in 2 years and then see how much money I can borrow economically and what can be done with it. Whether it's a house purchase, a semi-detached house, or just an apartment. We'll see then.
 

Bauherren2014

2014-06-12 20:00:00
  • #2
That sounds very reasonable. Good luck with it!
 

HilfeHilfe

2014-06-12 21:36:39
  • #3
Hello

surely you would have gotten a good rate there, but fixed for 10 years. after 10 years you have the same problem again
 

emer

2014-06-12 22:10:57
  • #4
You should urgently reconsider the topic of HV. Especially once you have a child. It only takes a bike to scrape against a car once and your calculation definitely won’t add up anymore. HV doesn’t cover minor damages.

Topic care costs: We pay 260 per month in the FFM suburbs. From 8 am to 4 pm including lunch.

You should inquire about that. Also about care costs. In the town where we currently live, there is daycare from 8:30 am to 2 pm. Fortunately, we are building in the neighboring town where things run differently and were already able to register our daughter for daycare there because we will soon be living there.
 

ypg

2014-06-12 22:50:47
  • #5
Building insurance, household insurance, and waste fees have not been mentioned yet either

And besides the mentioned clothes, I am also missing medications, gifts, car reserves, and a few other insurances.
HV was mentioned... what about the union, disability insurance, ADAC (or comparable), LV?
Also, maybe a risk insurance should be considered so that the family is secured in the worst case.

And here is an informative thread about how much a piece of house costs, even though it is advertised as a €99,000 bargain (prefabricated houses almost always come without a base plate, which is then added)


And why does the repayment have to be finished by 57? Why do "young" families make it so difficult for themselves when money is already tight in those young years... later towards the almost 60s, expenses like children, appliance purchases, and other things are no longer an issue... then you no longer know what to do with all the money, then you live comfortably in abundance for 10 years to pay the care costs at 70 from the proceeds of the house... if you even reach that age.
Ok, I digress

And why do you always—knowing nothing—wonder how much friends paid for a house??? You don’t know because it is hardly ever talked about openly and you can’t imagine that the equity was better coordinated—either through savings or inheritance!
 

Wastl

2014-06-13 08:20:23
  • #6
Yes, you're convincing yourself, BUT: I wouldn't put it on ice yet. You have to move anyway. That will bring costs again that you can't save for. With the new rent, you probably won't be able to save that much anymore. What happens in the worst case if you can no longer afford the house? You have to sell it again. Depending on how the market is then, you either make a loss, break even, or make a profit. Try talking to a reasonable independent financier. They can tell you what you can afford. After that, go to a reputable provider and have them make you an "all-in" offer. Then you'll see how far your funds will get you. If the budget is tight, fixed prices or developer offers are worthwhile – you can pretty much know exactly how much you have to spend.
 

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