Can Wohn Riester be used in addition to a building savings account?

  • Erstellt am 2011-07-27 16:16:36

DarthVader

2011-07-27 16:16:36
  • #1
Hello,

I would like to build or buy a house in 1 - 2 years. For this, I am currently saving some money. Among this, I have a Bauspar contract D max 5 with a savings amount of 60,000€, contract start was in 2006. I saved about 200€ per month there and am still continuing to do so. In addition, I also partially save with fixed-term deposits or overnight money. For retirement provision, I have a pension plan, from which I can deduct about 70€ per month from taxes.

Now the question arises whether I should enter Wohn - Riester, and if so, what does it bring me? A current tax advantage, about 154€ subsidy. But do you see it as something I absolutely have to do? Because I cannot save that long anymore, and I was told that normally you have to save for 12 years. But I would also get a loan at 0.5% below market price!

It would be nice if someone could explain the advantage to me. Also because I can soon get a cheap loan from the Bauspar contract!

Thank you very much!
 

DarthVader

2011-10-03 18:13:13
  • #2
So I have now completed the Wohnriester matter. The payments to the building savings account will now be stopped.

Now I would like to buy a plot of land soon. 450 sqm cost about 50,000 € including development. I would like to build a single-family house of about 140 sqm on it. My wife would like a cellar, I would rather have a large attached garage. I currently earn 1850 € net, my wife about 1700 €. I have a company car included in my gross salary.

We also plan to have 2 children after finishing the house, so my wife will not work full-time for about 6 years. After that, she wants to have a 3/4 or part-time job again. But all that is quite uncertain.

I have saved 20,000 €. My wife might also have about 20,000 €.

Would you say that we can manage this plan? Especially, of course, when we have a child! The banks tell us that the plan would be quite okay. But acquaintances of ours have paid 290,000 € for such a house! However, they also have a very large plot of land.

I would be very happy about numerous replies and suggestions!
 

Jimmy80

2011-10-03 19:10:41
  • #3
Whether you can meet the price always depends on the region. Otherwise, the whole thing sounds quite affordable, as long as no too large unexpected costs come your way.
 

Similar topics
30.10.2008Bank loan vs building savings contract?11
10.04.2012Financial plan with a building savings contract or with risk?12
25.08.2014Buy land now and build in 2 years13
02.07.2014Realistic purchase of land and new construction of a single-family house & how to finance it?20
25.03.2015Financing exclusively through a building savings contract12
16.06.2015Buy property now, and build in 3 to 5 years?52
28.06.2015Building a house - building savings contract with bad interest rates23
14.07.2020Beginnings of a possible property | Questions about the building savings contract72
28.11.2015Building savings contract with advance loan versus annuity loan13
29.05.2016Conditions for Riester home savings contract - What interest rate?16
02.06.2016Multifamily house - Building savings contract & pre-financing sensible?24
27.06.2016Building savings contract or annuity loan - final decision!45
08.08.2017Buy land with cash? How to build financing?44
22.01.2017Which financing option, TH or building savings contract?23
05.10.2018Buy land first, then build - experiences / tips?26
21.11.2018Financing with a building savings contract?18
14.05.2020House construction on existing land - Financing model13
26.08.2020Deferred Land & Single-Family Home Financing17
24.09.2020Financing of 400k with 60-120k equity capital through a combination of BANK/KfW/savings contract22
25.08.2021Financing new single-family home construction - full repayment, building savings contract, or annuity loan?13

Oben