Draft is ready ... now it's time for financing

Tomorrow,

I did not expect that. So your tip is that the 1600 euros per month is generally too high for our net salary. Secondly, you say that the financing requirement of 420,000 euros is too high. Where would you set the limit?

Best regards Holzhausbauer

I find the rate okay. 4900 net – what else should you do with the money? I find the house expensive at 400K €. Air-water heat pump with water fireplace... compared to that, a brine drilling is almost cheap. If you’re not idealists, you can easily save 15K € just by using gas – operating costs are the same... (negligent claim). Also, the downgrade to the normal garage certainly saves a lot. The building structure is hard to assess but except for the 2 m roof overhang and the bay window, it looks rather compact. Regarding financing: 15-year annuity loans are available with your equity at 1.5% fixed for 15 years. In combination with Kfw you then have 1.45%. Without going deeper into it, I would claim that is cheaper. With your alternative you only finance 300K € – what about the rest?

There is no gas in the old residential area, and I do not want to have a tank buried there. I have also considered geothermal energy; there is rocky ground, but maybe it can be offered sometime.

The garage should remain as it is, that is simply my wish. The construction of the garage is like the house, wooden beams not rough-sawn and insulated. The house is kept simple because of costs, but also because of efficiency. We are financing about 420k euros no matter where. 400k would be preferable for us, but we cannot manage that with the costs. What interests me most is whether we should continue with Wohnriester. Direct financers cannot combine that.

Wish you a nice day.

We pay 1,500 per month on a net income of currently 4,800 euros (one full-time and one 3/4 position) and consider that to be acceptable (previously had a savings rate of 1,700 euros in the former house), are 34 and 31 and have one child. Therefore, I do not find the rate concerning.

In the present case, however, there is no child yet. The total net amount will therefore initially decrease once the offspring arrives.

Then leave out the fireplace. Properly!! insulated and planned 160 sqm manage well with an air-to-water heat pump. Then you not only save the fireplace but also the chimney flue and chimney sweep. Riester is only 100K €? 3% interest versus 1.5% costs you 8,700 € more at the end of 8 years with 50% repayment. In the first 7 years you save 3,500€. Simply put, it’s not worth it. I would strongly advise against 10 years, too high remaining debt to compensate for interest rate fluctuations.