Rollo83
2017-10-13 10:32:16
- #1
Good morning everyone.
I built a new house about 2 years ago. Some brief data about the financing. Equity 180,000€ Loan 200,000€ for 10 years interest 2.09 -- installment 675€ -- remaining debt after 10 years 156,000€ Building savings contract 50,000€ will mature after 10 years and then must be charged with 1.5% interest It therefore covers 100,000€ of the 156,000€ Monthly special repayment on the house 250€ (increased to 325€ last month). So in 10 years there will be around 30,000€ left over which would need to be renegotiated. Other savings rate for something 450€ I am a civil servant in the upper service. Everything is running very solidly, I still live quite decently, but that is not the point.
The idea now is to buy/finance a condominium. The price would be non-negotiable and with an underground parking space for a 64m² attic apartment 77,500€ + 12.07% ancillary purchase costs, so roughly 87,000€. The monthly cold rent including parking space is 510€. The numbers sound quite okay to me at first. I would probably finance ~60,000€ and cover the rest from equity funds over 15-20 years.
1. Does this even make sense or should I rather pay off the house I live in now in peace without taking on anything else. 2. What interest rates are available at the moment for 15-20 year periods.
This is just an idea for now and a bit of input, whether positive or negative, would be nice.
I built a new house about 2 years ago. Some brief data about the financing. Equity 180,000€ Loan 200,000€ for 10 years interest 2.09 -- installment 675€ -- remaining debt after 10 years 156,000€ Building savings contract 50,000€ will mature after 10 years and then must be charged with 1.5% interest It therefore covers 100,000€ of the 156,000€ Monthly special repayment on the house 250€ (increased to 325€ last month). So in 10 years there will be around 30,000€ left over which would need to be renegotiated. Other savings rate for something 450€ I am a civil servant in the upper service. Everything is running very solidly, I still live quite decently, but that is not the point.
The idea now is to buy/finance a condominium. The price would be non-negotiable and with an underground parking space for a 64m² attic apartment 77,500€ + 12.07% ancillary purchase costs, so roughly 87,000€. The monthly cold rent including parking space is 510€. The numbers sound quite okay to me at first. I would probably finance ~60,000€ and cover the rest from equity funds over 15-20 years.
1. Does this even make sense or should I rather pay off the house I live in now in peace without taking on anything else. 2. What interest rates are available at the moment for 15-20 year periods.
This is just an idea for now and a bit of input, whether positive or negative, would be nice.