Energieverbrat
2022-08-14 09:37:26
- #1
Forgot something important. I did not take out a KfW loan or Bafa funding. In autumn 2019, interest rates were historically low and we decided on financing with as fixed interest rates as possible.
Our financing consists of three loans.
One loan is for ten years and then fully paid off. This means the monthly installment decreases after ten years, and we fully benefit from inflation, so that the second rented apartment then covers the remaining monthly costs and we can invest our capital elsewhere for retirement. Possibly building another house entirely on our own with several apartments or simply investing in our own company and some stocks.
The second loan has a 15-year fixed interest period and a remaining debt remains, but we can work with special repayments here and refinance after ten years if the conditions improve (flexible), or have an extra five years to fully use the special repayment and then take out a new loan with less remaining debt.
The third loan is an LBS pre-financing loan. This is basically a building savings contract paid out without a savings phase. It runs fixed for 30 years, but you can change the rate monthly as you wish. This loan is used for the rented apartment because most of the interest occurs here and we can deduct that via the tax office. The plan here is long-term to bind little capital and instead invest elsewhere because we benefit twice here through inflation and tax deductions.
If something happens, we can lower or increase the rate and are flexible here. We can also increase the rate in the first few years and thus shorten the term by a few years, but the goal here is fully to benefit from inflation and devalue the sum. This year already almost 9% inflation, so a good start and far above the interest rates.
All loans through the local Sparkasse because it was unproblematic to withdraw larger sums without much questioning and providing many proofs. With online loans, this is often not possible and you cannot save much on wages and materials because then everything must be invoiced.
Energy consultant:
With KfW and an energy consultant, the interest fixation would be over after ten years and a remaining debt would remain, possibly no longer at historically low rates. The energy consultant would also cause costs for seemingly no added value. I dealt with building technology and thermal insulation myself and am currently fully satisfied. Hot water for four adults and five children requires about 80kWh of electricity monthly, half of which is covered by photovoltaics, so 40kWh. Heating is extremely cheap because the system and pipe diameter are optimally designed. Currently, we have about €700 heating costs per year for hot water and heating for 256m2. Later, a battery will be added and the photovoltaics expanded to curb rising energy costs.
If I were to finance now, I would rather tend to take several loans with 10- and 15-year fixed interest periods and then also sometimes KfW per apartment.
The strategy with the second apartment is called house hacking, by the way, and is even rather wanted by the Green government because single-family houses and land sealing are problematic.
Our financing consists of three loans.
One loan is for ten years and then fully paid off. This means the monthly installment decreases after ten years, and we fully benefit from inflation, so that the second rented apartment then covers the remaining monthly costs and we can invest our capital elsewhere for retirement. Possibly building another house entirely on our own with several apartments or simply investing in our own company and some stocks.
The second loan has a 15-year fixed interest period and a remaining debt remains, but we can work with special repayments here and refinance after ten years if the conditions improve (flexible), or have an extra five years to fully use the special repayment and then take out a new loan with less remaining debt.
The third loan is an LBS pre-financing loan. This is basically a building savings contract paid out without a savings phase. It runs fixed for 30 years, but you can change the rate monthly as you wish. This loan is used for the rented apartment because most of the interest occurs here and we can deduct that via the tax office. The plan here is long-term to bind little capital and instead invest elsewhere because we benefit twice here through inflation and tax deductions.
If something happens, we can lower or increase the rate and are flexible here. We can also increase the rate in the first few years and thus shorten the term by a few years, but the goal here is fully to benefit from inflation and devalue the sum. This year already almost 9% inflation, so a good start and far above the interest rates.
All loans through the local Sparkasse because it was unproblematic to withdraw larger sums without much questioning and providing many proofs. With online loans, this is often not possible and you cannot save much on wages and materials because then everything must be invoiced.
Energy consultant:
With KfW and an energy consultant, the interest fixation would be over after ten years and a remaining debt would remain, possibly no longer at historically low rates. The energy consultant would also cause costs for seemingly no added value. I dealt with building technology and thermal insulation myself and am currently fully satisfied. Hot water for four adults and five children requires about 80kWh of electricity monthly, half of which is covered by photovoltaics, so 40kWh. Heating is extremely cheap because the system and pipe diameter are optimally designed. Currently, we have about €700 heating costs per year for hot water and heating for 256m2. Later, a battery will be added and the photovoltaics expanded to curb rising energy costs.
If I were to finance now, I would rather tend to take several loans with 10- and 15-year fixed interest periods and then also sometimes KfW per apartment.
The strategy with the second apartment is called house hacking, by the way, and is even rather wanted by the Green government because single-family houses and land sealing are problematic.