Kati2022
2021-05-26 12:10:42
- #1
Hello everyone,
before I go to my financing advisor, I would like to ask you for a few tips.
Current situation:
We own a 108m2 4-room condominium (built in 2012), which is currently worth at least 400k (there is currently a very similar apartment listed online for 409k + 20k underground parking space).
Outstanding loan: 70k. 20k can be fully repaid in Dec '21, 50k only in March '23.
Fortunately, we have won a bid for a great building plot in a peripheral location. Price (fully developed) 165k (+ incidental costs) for 518m2.
Equity capital: 75k
We would like to sell the apartment.
What is the best way to proceed?
The land charge on the apartment is 170k. So 100k would be free. The equity capital was actually intended for the repayment of the apartment.
Wouldn't it be wiser to mortgage the apartment for the purchase of the plot, so that one is more flexible with the later house financing? What about the equity capital? Put it entirely into the financing of the building plot or keep it as a reserve for the full repayment of the apartment?
Plot financing: variable or fixed with the shortest possible fixed interest period? Are fixed interest periods under 3 years even possible?
before I go to my financing advisor, I would like to ask you for a few tips.
Current situation:
We own a 108m2 4-room condominium (built in 2012), which is currently worth at least 400k (there is currently a very similar apartment listed online for 409k + 20k underground parking space).
Outstanding loan: 70k. 20k can be fully repaid in Dec '21, 50k only in March '23.
Fortunately, we have won a bid for a great building plot in a peripheral location. Price (fully developed) 165k (+ incidental costs) for 518m2.
Equity capital: 75k
We would like to sell the apartment.
What is the best way to proceed?
The land charge on the apartment is 170k. So 100k would be free. The equity capital was actually intended for the repayment of the apartment.
Wouldn't it be wiser to mortgage the apartment for the purchase of the plot, so that one is more flexible with the later house financing? What about the equity capital? Put it entirely into the financing of the building plot or keep it as a reserve for the full repayment of the apartment?
Plot financing: variable or fixed with the shortest possible fixed interest period? Are fixed interest periods under 3 years even possible?