Feasibility single-family house + land 550k-600k NRW

  • Erstellt am 2020-03-30 09:30:02
P

PyneBite

2020-03-31 14:08:21
  • #1
I would do it in your place.

The only tip: The expenses with €1500 seem a bit high to me (without rent/repayment) - maybe something can be optimized here.

You already know the following:
- Repayment made
- Annual special repayment taken
- Still nicely accumulated equity

I’m keeping my fingers crossed for you and wish you good luck!
 
R

RomeoZwo

2020-03-31 17:05:23
  • #2
Then finance as much as possible as a mortgage on the terraced middle house. Interest expenses on rental properties are tax-deductible.
 
P

priviticerul

2020-03-31 18:03:38
  • #3
How do you mean that? Even if I finance the new building with it? Because the terraced house is already paid off...
 
G

ghost

2020-03-31 19:05:20
  • #4
Is there a building obligation for the property?

Otherwise, the advice here in the forum is usually:
As long as there is not too much time between the purchase of the property and the construction of the house:
Finance the property flexibly or take out a loan for property + house directly.
Your plan to fix the property for 15 years also more or less binds you to the bank you finance with afterwards.
In other words, for the later house loan, you have to go to the bank that financed the property, as it holds the first lien.
 
P

priviticerul

2020-03-31 19:11:38
  • #5

Yes, there is a building obligation from the municipality. You must submit the building permit application within 6 months and be finished and moved in within 3 years. We would ideally like to start building this summer. What do you mean by financing flexibly?
 
C

Crossy

2020-03-31 19:51:26
  • #6
But building this summer never works. You can consider yourself lucky if you can start construction in spring 2021. And I would also initially finance the property flexibly until you can then get an overview of the costs and fix your final construction financing. This way you are not already tied to a first-ranking bank. The rest google will explain to you.
 

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