Buy land - keep the house.. how to proceed best?

No! Renting out is work that is simply pointless. Put your energy and zest for life (and the money earned) into the future.

Why do you think that way? Do you also say that renting out does not generate any returns?

No! Renting out is work that, quite simply, is pointless. Put your energy and zest for life (and the money you earn) into the future.

People rent out to have something extra for later or a paid-off house that then provides capital again.

Today was the appointment at Interhyp.

According to initial calculations, it is feasible that we keep the house (repayment would be reduced), acquire the land, and build a house.

Most banks do not offer a loan under 50k, so we should take out about 55k for the land. The initial interest rate was about 1.4% with a fixed term of 2 years, the variable interest rate was around 2%. Repayment would be about 21%.

I also recalled that we have already registered a land charge, whose outstanding debt is almost lower by the amount of the new loan than the originally registered land charge.

The question now is whether the current bank would lend us the amount without a new land charge. That might possibly save costs and effort. The advisor wanted to clarify that.

Don’t go through with renting it out. Especially with a single property, particularly a house, it is barely profitable and very risky. I would strongly recommend financing the land flexibly for now. Then you do the planning and preparation for construction. Then comes the financing and also the sale of the current house. Don’t tie yourself down with this, really don’t!

Don’t put yourselves through the hassle of renting. Especially with a single property, particularly a house, it is hardly profitable and also very risky. I would strongly recommend financing the land flexibly for now. Then you do the planning and preparation for the construction. Then comes the financing and also the sale of the current house. Don’t tie yourself down with it, really don’t!

The more we talk about it, the more we also get the idea of ultimately selling the house.

After all, you want the newly built house to be exactly as you imagine it and not to have to make compromises on the new house from the start, just because in the end a few thousand euros are missing that are tied up in the rented house..

How does it proceed now; are you making a notary appointment?

I would also be uncertain. If renting works out, it's a great thing. You might later be able to give the paid-off house to your child. But if it doesn't work, such a construct can quickly come into jeopardy. Disputes with non-paying tenants can drag on indefinitely. And this house also always needs renovations and refurbishments that need to be financed. In the end, you will probably have to weigh it among yourselves and decide.