Good evening again!
Many thanks to everyone who has responded/commented on my post so far.
:
1) The keyword "BelWertV" already helped me a bit further. So, the determination of the lending value is about the cost approach for an owner-occupied single-family house. Thanks for that!
2) This is really embarrassing for me, but what kind of formula is that in text item 2? Naively, I thought until the moment I read this that if (after the bank’s deduction of non-value-retaining costs) I invest equity of €100,000 for costs in the house and the house and plot are then "worth" €400,000, I would be standing at a ratio of 25%? Oh dear.
3) So far, I have assumed that the bank makes a percentage deduction on the costs for the house including the plot, e.g. 15%, to arrive at the lending value. That would also mean a 15% lower valuation of the plot, which would not have made sense to me (unless purchased at a higher price, as you said), sorry for the misunderstanding. The deduction should then not relate to the plot but "only" to all "construction costs".
6) I have understood that so far, but if certain costs have already been paid by us beforehand (or turn out to be higher, e.g. connection, architect), our equity is already pretty depleted. Then we could, for example, no longer pay for the chimney, floors, or bathroom/WC out of equity. Therefore, I wanted to know whether it was common among previously successful home builders or acquaintances that, for example, floors or chimney were deducted from the loan or paid with equity? Experiences from home builders with a usual ratio of 15-25% who could be comparable to us would interest me.
Do you then first pay part of the bill for, e.g., the shell construction from the remaining equity you still have? And the bank adds the rest and then takes over every bill for floors, etc.? Because the equity is then quickly at "0" at the beginning.
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I have now read on another website (could be advertising, so I will leave out the name for now) that the lending value is actually not the final value the banks use as the minimum basis for a loan? It was written there that if the lending value is, for example, 80%, the credit institutions still have a lending limit, which can also be up to 80% at the peak, at least without large interest surcharges.
As an example how I understood it:
Value of construction project: €125,000
Lending value: 80% = €100,000
Lending limit: 80% = €80,000
Although it is still possible through interest surcharges to increase the lending limit to 100% of the 80%. I imagine that if our ratio in the case I described is even only 90%, financing would become significantly more expensive. Regardless of the interest level.
If architects cost SO MUCH more, then we would have to finance many items that would otherwise have been paid with equity. Thanks for pointing that out to me!!
(sebastian79, steffen80).
We also plan to do it that way with equity, but I want to know 100% about every aspect of financing/construction beforehand if possible. Since I know I have a steep learning curve ahead of me, I prefer to start early enough ;-)
Thanks! That is exactly why I asked, to weigh decisions and recognize the consequences.