Financial realization of a single-family house realistic?

Well, KfW has apparently just adjusted the interest rate a bit again, but it is still good compared to your main loan. I have to say that I find the conditions overall okay. Which KfW standard are you aiming for?

KFW55.

With the loan from the Sparkasse, I could still make special repayments of up to 10,000 EUR per year. It is even realistic that I can regularly use this amount in full.

The 6-month Euribor, to which the Sparkasse links its loan, has become worse for us in the last 2 months. However, I think this could change again in the next two months. Construction is scheduled to begin in spring 2021, so we still have a little time.

Good morning Rallyestreifen, regarding the offer from Sparkasse I have the following questions / comments:

1.) What are the total costs (I could not identify this in the previous text)? 2.) How many separate residential units are there (KfW funds per residential unit)

Otherwise, I can say about the offer:

KFW 153 was fully utilized with 120 T€ - that fits. Depending on the energy efficiency class (KfW 55, 40, 40 plus), there is a repayment subsidy. Please clarify with the energy expert which energy efficiency class will be achieved. KFW 124 also fits in relation to the current Sparkasse offer. Maybe the KfW program 167 can also be integrated (age-appropriate renovation of the bathroom, etc.) - here I still lack more detailed information about the property and the planned construction measures. - possibly also funding for the heating system

For the bank loan, I would definitely make sure that a 2x free repayment rate change during the fixed interest period is possible, as well as a special repayment option.

Regarding the existing financing: Why was the apartment only financed for 1 year? Will it be sold later or is a follow-up financing planned? If yes, I would negotiate this condition with the house bank right away. There is the option of an "unechtes" forward loan (interest-free provision period of 12 months is credited to the fixed interest term - no forward surcharge for that) to use the current interest rate level also for the existing apartment immediately.

If you have any further questions, I am happy to assist.

Best regards

Hello dear advisor,

we want to build a single-family house, the total costs amount to approx. 650 TEUR (including the plot), equity in cash is 150 TEUR. A detailed breakdown of costs, income, etc. can be found on page 1 of my original post. So, there are no separate residential units.

Currently, we are financing our condominium independently. The apartment is deliberately financed for a short period because we want to sell it and do not want to pay any prepayment penalties.

Although it was a 110% financing, we expect a small profit when selling.

The loans for the house are therefore KFW 124, 153, and the rest is an annuity loan from the Sparkasse.

The 1.3% seems a bit high to me?! A prepayment of 10 TEUR per year is included.

What do you base your assumption on?

My assumption regarding the apartment is that we will make a small capital gain here?

We bought it at a good price, in my opinion below market value. More importantly: we have a concrete interested party, my neighbor.

Of course, this has not yet been realized, so it remains an assumption.

In case of doubt, we should at least come out of the situation with the apartment without a loss.

The advisor at the Sparkasse even said that the price agreed with the neighbor was far too low...