Best solution to finance our house? Building savings? Loan?

Hello,

my girlfriend and I want to buy a house in the next few years, we are already looking around.

Now the question of financing arises. My girlfriend has a building savings contract of 50,000 EUR, which we can access at any time.

I myself do not have a building savings contract, but I have about 100,000 available in equity, of which I would still like to keep at least 30% as reserves because I am self-employed. My income as a self-employed person is not particularly high, I get by, and occasionally there is something left over. My girlfriend, on the other hand, is a salaried special education teacher (not yet tenured) and has a regular income.

We intend to buy a house in need of renovation, for about 125,000 - 200,000 EUR.

How should we best finance the whole thing? What options would be interesting and most sensible for us? Should I still take out a building savings contract now?

How would you do it?

Thanks in advance for your tips!

Whatever you do, it apparently does not make sense to conclude a building savings contract for next year at this point.

I have a few questions regarding your girlfriend's building savings contract, the answers to which are important in order to make any decision at all.

What is the building savings amount, how high is the existing balance, what minimum savings does the contract require, what is the interest on the balance, what is the loan interest rate and the standard repayment rate, how long has the contract been running, and what is the monthly savings contribution?

Hello,
in addition to what toxicmolotow wrote, I would recommend that you have a conversation with your house banks.

Your situation (self-employed without regular profits and (not yet) tenured teacher) is already a difficult starting point for many banks.

Have your house bank calculate which loan amount would be possible. Then you will already have a rough idea of what the house (including the required renovations) may cost.

Regards,
Dirk