Construction financing despite EU pension

2021-02-09 16:38:46

Fortunately, unlike what has been constantly claimed here, I have come to a solution.

So? Will you still reveal the solution to us?

(Or would you rather join in the kindergarten you are so outraged about)?

2021-02-09 16:44:36

The parents' house is worth nothing with the right of residence. However, obligations have been transferred to the less solvent son. We have such cases here every few months. One can only advise either to do nothing until certain matters are settled or to refuse the "gift." It only weighs one down. Because selling, which would be the right thing in this financial situation, is unfortunately not possible. I believe some parents don't realize what they are doing to their children with this generosity.

2021-02-09 16:58:43

The solution would of course also interest me. I really hope you don't rush headlong into ruin with it :-( I can't come up with a good solution for you.

2021-02-09 19:44:17

I merely asked what options I have and already had a productive phone call today with the heritage protection authority.

I also never said that my father should waive his right of residence, it was just supposed to be removed from the land register, those were the words of the bank advisor, not mine, because otherwise it is worthless. We have come to a solution that also generates equity and my parents are satisfied. So the topic is settled here.

Come on...what does the solution look like now? After all, some people here really put thought and made suggestions. It wouldn't be fair to just say goodbye by referring to the "stupid" comments.

A forum also has the purpose of showing solutions later on when someone uses the search function.

2021-02-09 20:09:48

100,000 euros is the maximum my father would grant me, according to the notarized contract he must agree to any encumbrances affecting the property he lives in. Even this was a struggle since he believes he can renovate the mill with 30,000 euros, it doesn’t have to be nice. But who would want to move in then? Also, there is the consideration that we might move in there ourselves in a few years. There is a lot of space there and it is very nicely located.

Besides, that is what I calculated I could borrow without having any problems.

Maybe I see "mill" too romantically. ;-) Is there the possibility to establish an association or similar for its preservation? And instead of normal rental agreements, to realize cultural events, a museum or something similar, at least partly? In which federal state/region, anonymized, is the mill located? Could there be subsidies from the federal government/state/municipality?

2021-02-09 20:14:20

... since he believes he can renovate the mill with 30,000 euros, ...

Is your dad still young enough to take on the renovation, maybe together with some "buddies"? Then there would be no objection.

Also, there is the consideration that we might move in there ourselves in a few years. There is a lot of space there and it is very nicely located.

That would make me happy for you, sounds good.

Construction financing despite EU pension

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