Concrete financing offer - how much must be "left over"?

  • Erstellt am 2016-03-31 09:40:23
H

HaraldHirsch

2016-03-31 11:34:36
  • #1
:

thanks for your answer. there are no rental losses for the apartment we would be moving into – we did not count the tenants of this apartment anywhere. the tenants will receive a termination notice due to personal use and will be out after a maximum of 9 months. the renovation of this apartment is included in the costs we estimated at the very top.

you can forget the bank estimates, we've already noticed that too. based on our current income, we were offered loans with monthly installments of 2,500 - 2,900 euros... and if there are children...? "oh, that’s okay too, there’s child benefit" obviously...

with the solution involving the building savings contract, we see the advantages that from day one until the end of all debts we know the exact installment and that at least with LBS we can deposit almost unlimited amounts anytime. we have a guarantee (after the 10-year saving phase is over), e.g. already in the 11th year, if we inherit or win the lottery or something else happens, we can repay the entire remaining sum at once without costs.

on the other hand, where do you see the disadvantages of a building savings contract compared to a classic loan? I haven’t been able to find any so far.

thanks!
regards
 
M

Musketier

2016-03-31 12:27:14
  • #2
The building saver is often more expensive because during the savings phase, no repayments are made, but (nowadays almost interest-free) savings are accumulated, while the loan still shows the full amount. This means you pay interest on a higher amount. Only when the building saver runs for a long time can the construct become interesting. However, this is often contradicted by the desired special repayments. Ultimately, a building saver is a bet on sharply rising interest rates. Presumably, very few building savers have won this bet in the last 2-3 decades.

In the case of renting, the situation is different. There, interest can be deducted as expenses to reduce taxes. Possible special repayments should primarily be made for the loan of the privately used apartment. Here, I would pay attention to high special repayment options or repayment switches.
 
A

Abzahler

2016-03-31 13:23:04
  • #3
Not the world, but have you counted the [Kindergeld] among your income?
You can also stretch the [Elterngeld] over two years. Instead of one year, you receive half the amount monthly for two years.
 
H

HilfeHilfe

2016-03-31 14:14:52
  • #4


hello,

I am not talking about rental losses for your apartment but for the other two. what happens if these fail and you have to evict the tenants? the loan must still be serviced. and don’t tell me this will never happen. something like that always happens for the first time eventually.

regarding the building savings contract, musketier hit the nail on the head. I don’t know if it is interesting for you. basically, when it comes to renting or the loan parts, a knowledgeable person who knows about rentals and leases should take a look. also with regard to renovation, depreciation, interest, rental income. there should be a clear separation.
 
H

HaraldHirsch

2016-03-31 14:28:47
  • #5
: no, child benefits are not included in the budget. but no costs for the child have been included yet either .... I didn’t know that parental allowance can be split over 2 years, that’s good information!

: of course something like that can happen. but how do you think the calculation should be done then? with 2 rental incomes, I can’t just say I ignore both in our financing. that’s why the idea is to use one and set the other aside.

regarding the division of the building savings contract into the rental and owner-occupied parts: we currently already have a building savings contract for 60,000 and one for 70,000 that has been paid into for several years. this amount corresponds to about 1/3 of the house value and thus our private use part. the large new building savings contract for 280,000 then covers the rest of the house as well as the extensions and renovations. at least according to the bank advisors who offer us the building savings contract solution, that would be sufficient for a clear separation (quote "we don’t want to leave all the work to the tax advisor either").
 
M

Musketier

2016-03-31 14:40:11
  • #6
The renovations certainly also affect the private portion. Then this should be apportioned accordingly. I definitely recommend a brief consultation with a specialist here. I'll send you a few links about the IWW via PM.
 

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