Buy existing property

I think this is a win-win situation for everyone except for you.

In general, this all sounds very much like a bank with a blue-orange logo with a V in it :)
The bank only offers construction loans up to a certain loan-to-value limit. Everything else is done through consumer loans of a subsidiary.

Go to an independent broker. There are better solutions.

We received both options from an independent broker.

The home savings contract would be from Wüstenrot.

So taking out an additional €50,000 loan to make the home savings contract ready for allocation seems pretty pointless to me.

In general, I also don't find either of the two options very good.

Before buying, it might be a good idea to consult an expert.

I think this here:



Would be the right decision. You actually can't even pay the incidental purchase costs out of your own pocket here.

In 10-15 years, there will also be nice houses. ;)

Who knows what interest rates will look like in 15 years..... :(
We specifically chose an affordable end-terrace house with a small plot... I really wonder how others always manage it!

Could we somehow secure the low interest rates now? For example in the form of a home savings contract?

Of course it makes sense to keep saving for years now, it is clear that we definitely want a small house with a garden! I'm just afraid we will regret the decision, no matter what we decide.

Not so easy....

The independent financial advisor gave us the green light, so why is he doing that??
Why does he offer us such financing options if they are disadvantageous for us....

We imagined spending up to €850 per month on the loan.
The €50,000 lump sum is also only intended so that we don't have to save into the home savings contract in the first few years.

Who knows what interest rates will look like in 15 years..... :(

Who knows... but it doesn't matter, houses have been built for generations and it won't be different in the future.

We specifically chose an affordable end terraced house with a small plot... I really wonder how others always manage it!

They wait! I don't know anyone who built or bought before the age of 30. Don't you have other plans in life than to throw everything to the bank????

Of course it makes sense to save for years now, one thing is certain we definitely want a small house with a garden! I am just afraid that we will regret the decision, no matter what we decide.

Then just wait... later you’ll have more life experience and can better assess your fears and the risks

Well, who really knows about the interest rates? If interest rates have risen in 10-15 years, then maybe/probably construction and real estate prices will fall (at least I am sure of that).

How others do it doesn’t matter ... You currently have no equity, so there are no good conditions.

You can secure interest rates with a [Bausparvertrag], but you should also save accordingly so that it is worthwhile.

You want financing, which the broker gave you. You can also go through with it like that, it’s just a question of how sensible that is ...

The thing with the €50,000 is clear, but are you aware of how much interest you pay on that in nine years?

What about the [Kfw-Darlehen]? Interest rate, repayment, fixed interest period ... ?

Hello,

My fiancé and I (both 23) are considering buying an end-terrace house.
Cost: €160,000
In addition, we would have to pay 3.57% realtor fees, 5% property transfer tax, and 1.5% notary fees.
The additional purchase costs are just under €16,000.

Unfortunately, we have no equity, except for €10,000 in a savings account and €5,500 in the form of existing but not yet assignable building savings contracts.

I’m slowly running out of ideas, maybe we should just save diligently for 10/15 years first, but we have found such a nice house for us now.

I know people your age don’t like to hear this, but: take your time! Not everyone has to own a house; rental apartments/houses also want to be lived in!

On the one hand—although I don’t know where you want to build—the price is never right and additional building costs are also off! On the other hand: you have to be careful: you are classic candidates for the cheap segment. The rude awakening will come when it’s too late.

You can always build a house later; low interest rates should not be the be-all and end-all. I am pretty sure that the effects of the low-interest phase will flood the market with the nicest houses in max. 7 years. Until then, you can live, get married, have children, and save equity. The houses that will then flood the market at very reasonable prices will have a good standard and, in all probability, hardly require any investment. Think about that before you let yourself be trapped by supposed bargains!

Rhenish greetings

It is probably about an existing property. ;)