priviticerul
2020-03-30 09:30:02
- #1
Good morning,
we want to build something new and would like to know if the project is realistic or if we should only dream about it.
General information about us:
Income and asset situation:
Mobility costs:
2 cars, no car loans or other loans open. One car will be sold soon because there is no need for 2 cars (after the move).
The plot would be 500m2 and costs 190,000€ + purchase incidental costs (without realtor). We already have the following financing offer: 180,000€ at 1.01% effective annual interest rate fixed for 15 years with 5% annual special repayment. Monthly payment would be approx. 450€. We would practically pay 10,000€ here plus the incidental costs. The plot is from the city (in Cologne North, just 5km from the Cologne border) and we would have to start building immediately (and not wait 2-4 years). The bank would register itself in the land register for this.
We would like to build a single-family house (city villa e.g.) with approx. 140-170 m². Assumption: Would 300,000-350,000€ including a garage be realistic for this, or are we completely wrong? For this, a second financing would come into play (with the same bank I think), and the bank would register itself in the land register of our current property. Overall, we would very much like to avoid exceeding 500,000 total debt. We thought of 15 years fixed interest with 5% special repayment and a monthly rate of 2% (which means approx. 1500€ total), and whatever is left annually could be paid via special repayment to reduce the refinancing amount afterwards. We want to avoid that we calculate it nicely but in the end the whole thing becomes a bottomless pit.
Thank you very much in advance for your answers.
we want to build something new and would like to know if the project is realistic or if we should only dream about it.
General information about us:
[*]We are 33 and 31 years old.
[*]Currently no children.
[*]Children are planned in 2-4 years (1 child) / wife would return to work after 1 year
[*]We are employees and both work full-time 38-39 hours.
Income and asset situation:
[*]We currently earn 2580 and 2400 € net / + 1x 13th monthly salary + approx. 3000 € net annual bonus
[*]We currently own 1 terraced house (value approx. 250,000-300,000), which we would offer as collateral at the bank, purpose land registry entry, expected rental income later min. 800-900 €
[*]We could currently invest approx. 80,000-90,000 € (max) as equity.
Mobility costs:
2 cars, no car loans or other loans open. One car will be sold soon because there is no need for 2 cars (after the move).
The plot would be 500m2 and costs 190,000€ + purchase incidental costs (without realtor). We already have the following financing offer: 180,000€ at 1.01% effective annual interest rate fixed for 15 years with 5% annual special repayment. Monthly payment would be approx. 450€. We would practically pay 10,000€ here plus the incidental costs. The plot is from the city (in Cologne North, just 5km from the Cologne border) and we would have to start building immediately (and not wait 2-4 years). The bank would register itself in the land register for this.
We would like to build a single-family house (city villa e.g.) with approx. 140-170 m². Assumption: Would 300,000-350,000€ including a garage be realistic for this, or are we completely wrong? For this, a second financing would come into play (with the same bank I think), and the bank would register itself in the land register of our current property. Overall, we would very much like to avoid exceeding 500,000 total debt. We thought of 15 years fixed interest with 5% special repayment and a monthly rate of 2% (which means approx. 1500€ total), and whatever is left annually could be paid via special repayment to reduce the refinancing amount afterwards. We want to avoid that we calculate it nicely but in the end the whole thing becomes a bottomless pit.
Thank you very much in advance for your answers.