Financing / Equity / Granny Flat - Fundamental Thoughts

Yes, just troll off! The summer slump isn't here yet ;)

Yeah, just troll yourself! The summer slump isn’t here yet.

You weren’t really constructive now.
But alright, apparently no one here can really answer my questions in a well-founded way.

The friends from the building society don’t find the idea of a granny flat so bad at all.
A market-typical and reasonable rent would probably be around €700 - 900.
Of course, I understand that the rental income has to be taxed, but you can also claim expenses.

and even with property tax, I certainly won’t reach 500€ in additional monthly costs. That is EXACTLY the fundamental mistake most homeowners make. They save on the technical building equipment and end up paying stupidly high consumption costs.

That is really nice for you. The bank will still calculate a flat rate of 2.50 EUR x 180 sqm for the additional costs. That still makes 450 EUR per month.

Employee in own GmbH

Why are you working yourself to the bone like that??? You only pay yourself €3000 net.

The whole project is a crazy idea

The equity is not too low, the monthly input is currently too low.

If the equity were higher, the monthly input would be sufficient.

If I take the bank's perspective, it looks like this:

... as a bank, I give a relatively secure loan with the very high probability that shortly after completion the foreclosure threat already arises because the installments are unaffordable. The problem is not the equity but the missing income.

Because the bank gets interest for it. That’s what banks do. Loans against interest.

Loan from credere = Latin for trust. The bank has no trust that the loan will be repaid. No bank wants to deal with houses it has to auction.

Why the rental income from the granny flat should not be considered is also completely unclear to me.

They are considered. But only 80% of it is taken into account – the rest are operating costs. However, a higher LH flat rate is also taken into account for that.

Employee in own GmbH

Why do you work yourself so hard??? you only pay yourself 3000 € net.

The whole project is a crazy idea

Well, in principle he says that his income could be increased. But he would rather solve it as rental payment from the company to himself with the renting of a home office. Maybe the OP can explain this part in more detail. Are maintenance payments actually linked to all types of income? That means – they will increase too?

Otherwise, he has a monthly surplus of 250 € from his almost 2100 € net that he has available freely. With that, he wants to get 500,000 € + loan, and the professionals make that possible with a repayment < 1%.