Thank you all very much for your feedback. Good to know what you don’t know ;) I read the tenor as suggesting that one should secure the plot of land and finance it individually, then move on to concrete house planning and, with the financing needs identified at that point, proceed to house financing. Possibly including repayment of the land loan, if it has not been paid off by then.
Whether it then becomes a consumer loan or a variable or short-term real estate loan, there are different opinions on that. So I would have to calculate that precisely when it becomes serious.
Could it also make sense to finance the land (almost) without using equity at 80-100% variable, and then repay the variable loan through a total loan? Or is that perhaps even urgently necessary to hold back the equity for non-financeable parts of the house construction (additional construction costs, kitchen, etc.)?
The nice thing about it is a) that you now choose the one bank, which you do not necessarily have to take later on, and b) this one bank, in case of doubt, makes a bit more effort to keep you as a customer. So you can only win.
Only winning sounds appealing, I like that ;) But again regarding this land purchase loan: is that a special form of financing that I should specifically inquire about? When briefly scanning the search engine, I only found it again in the commercial and project development context; is that even possible/relevant for private individuals?
I would probably then use the entire capital, and finance the small part that is missing (25 K EUR) with an inexpensive private loan, because: - Small construction financings (that is 50 K EUR or also 75 K EUR) are only marginally cheaper than a private loan - Costs also arise for the land charge registration (notary/district court) - You are initially bound to the bank (unless you finance variably, and here at the latest costs are higher than with a private loan) - You can redeem private loans at most banks directly and without costs
You write that with variable financing the costs are higher than with a private loan. Is that generally the case or "just" your assumption due to the current interest rate development? Or because this calculation also includes the land charge registration, which does not apply to a private loan?
The question is also how much money is available for repayment of the land loan? If you can repay it very quickly, it is almost irrelevant how you finance the other debts
For a 25k EUR loan, I would assume a term of 18–24 months. Unfortunately, I do not understand your second sentence in this context. The "other debts" would then be the mortgage for house construction, which will logically be a normal annuity loan.