Buying a house without equity

  • Erstellt am 2016-05-16 18:51:51

30156030

2016-05-16 18:51:51
  • #1
A warm hello to everyone!

Like many here, we are thinking about buying a house. Here is some information about us in advance:

He, 30 years old, finished his studies a year ago -> employed as a project engineer, permanent contract with a net income of 2500€, tending to increase.

She, 28 years old, employed in the public sector, net income about 2000€.

Since we want to get married soon, her salary will temporarily stop because of wanting to have children.....

We might have the possibility to buy the house where we currently rent. There are a total of 2 rental parties. We pay 700€ including utilities + 80€ electricity and our neighbors pay 500€ including utilities + electricity.

The costs for the house would be about 160-170k€. We would want to let the other rental party live in our house for about 3 years.....

What do you think? Would financing without equity be sensible? The reason we haven’t saved up proper equity so far is because we have both only been fully employed for about a year and also need to pay for our wedding.....

Would be grateful for sensible tips and opinions

Best regards, Jan
 

tomtom79

2016-05-16 19:09:51
  • #2
Exactly on this topic, there are dozens of answers.

Still, a few answers.

Without equity, a 130% financing becomes unlikely.

Your luck is the low purchase price.

Still, one more question! After the 3 years, what do you want to do with the tenants? A termination for personal use will be difficult.
 

Caspar2020

2016-05-16 19:32:16
  • #3


No need. It’s totally easy:
Legal peculiarity with a two-family house:

According to §573a of the Building Code, there is no tenant protection against termination if the landlord lives in the same house. (Simplified termination - without giving reasons -).

In this case, the statutory notice period is extended by 3 months.
 

ypg

2016-05-16 19:33:27
  • #4
It seems to me as if it were the first offer that came up after the idea of nest building arose, or did the idea of nest building arise with a purchase offer from the landlord?
 

30156030

2016-05-16 19:50:30
  • #5
We would not "kick out" the tenants. It is also a young couple who want to have something of their own sooner or later...

The idea did not come from the landlord. We have been looking around our area for quite some time.... and after careful consideration, the local house seems to be the optimal solution for us.
 

MarcWen

2016-05-16 20:13:36
  • #6


Does this also apply to three-family houses?

Have you ever asked yourself why the owner wants to sell? Family reasons (age, relocation)? How old is the house?
 

Similar topics
23.03.2009Does the capital provide financing10
07.07.2011Financing land now, house in 6 months?17
03.04.2012Buying a house without equity?29
01.05.2013No equity / existing consumer loans / financing possible?11
30.06.2014Is financing a second property possible?14
22.10.2014When to finalize the financing??15
26.12.2014No disbursement of funding - Tax office is slow44
18.12.2015Financing unequal equity ratios of unmarried partners24
17.06.2015Building a house without equity or how does one proceed?14
16.06.2015Is financing sensible/feasible?10
10.08.2015House Purchase - Financing (Experience Report + Opinion)10
12.10.2015Youth financing feasible or too early?12
18.01.2016Financing - where is the mistake?33
26.02.2016Is the dream of a home realistic with our financing?45
14.05.2016House purchase: Financing (with/without equity)24
25.05.2016Financing without equity - Repayment / Interest63
23.03.2021Would you make this financing?138
08.08.2017Buy land with cash? How to build financing?44
19.10.2016From when does the financing start at the handover of the house in summer 2017?19

Oben