KB.com
2019-03-05 12:47:24
- #1
Hello everyone,
(A mistake has crept into the topic. It is, of course, a condominium - ETW). Unfortunately, I don’t know how to correct this mistake)
We own a 4-room apartment but want to build in 1-2 years.
The value of the ETW is around 300k. About 100k is still left to pay off (mortgage 170k).
What would be wiser?
To sell the apartment and take out a smaller loan or rent it out and use the rental income for the "big loan"? Rental income approx. 750-800€ cold rent. How does it look tax-wise? Could we increase the loan again up to the mortgage (maybe even register a higher mortgage) and deduct the interest for tax purposes? The fixed interest period ends in 2021, so refinancing would fit quite well.
Equity for the new construction project is very low, around 20k, since so far everything has been used to pay off the ETW.
We are both employed, 2 children (no more planned).
Family net income approx. 5000k + child benefit
(A mistake has crept into the topic. It is, of course, a condominium - ETW). Unfortunately, I don’t know how to correct this mistake)
We own a 4-room apartment but want to build in 1-2 years.
The value of the ETW is around 300k. About 100k is still left to pay off (mortgage 170k).
What would be wiser?
To sell the apartment and take out a smaller loan or rent it out and use the rental income for the "big loan"? Rental income approx. 750-800€ cold rent. How does it look tax-wise? Could we increase the loan again up to the mortgage (maybe even register a higher mortgage) and deduct the interest for tax purposes? The fixed interest period ends in 2021, so refinancing would fit quite well.
Equity for the new construction project is very low, around 20k, since so far everything has been used to pay off the ETW.
We are both employed, 2 children (no more planned).
Family net income approx. 5000k + child benefit