Dream of the house realistic? - hardly any equity

2020-01-01 13:33:18

With the existing monthly surpluses, it should be possible to pay off the property by the (preferably latest) start of construction. Then you are free again in choosing the bank. Pay off car loans so that you no longer have those installments.
I think the financial situation certainly allows for this, provided the excavator is not supposed to start rolling tomorrow.

If I, for example, take out a €60,000 installment loan from ING, we would be looking at a monthly rate of €1,750 over 36 months. There is then not much left in savings potential until the start of construction.

2020-01-01 13:43:25

There isn’t much potential for savings left until the start of construction.

Nonsense, that is saving equity 1:1. Do it!

2020-01-01 14:02:56

Nonsense, that is saving equity 1:1. Do it!

My mistake. True, of course...

2020-01-01 14:05:47

A good plot of land is currently much harder to get than anything else. If you have found the right one and the later house construction is financially realistic, then get started.

And if you get cold feet, then just sell the plot again and come away with lighter financial scratches.

2020-01-01 16:52:54

A good plot of land is currently much harder to get than anything else. If you have found the right one and the later house construction is financially realistic, then go ahead. And if you do get cold feet, you just sell the plot again and come away with lighter financial scratches.

Unfortunately, selling again immediately is not possible. There is a building deadline of 3 years on the plot.

2020-01-01 17:15:39

Ah sorry, I overlooked that. 3 years until construction start or until completion?

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Dream of the house realistic? - hardly any equity

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hausbauer

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