Financing for 124 sqm semi-detached house – too tight?

  • Erstellt am 2021-05-05 00:27:19

ypg

2021-05-05 09:01:56
  • #1


Wow!
Sure?
I overlooked that. How do you get 500 euros altogether?
 

AnnaTake

2021-05-05 09:43:43
  • #2
Hi, thanks for your many replies so far.

You are right, our monthly expenses are quite high, but I suspect that's because I generously round up almost every expense for my calculations, so I don’t cheat myself and end up making the credit look better than it is.


Insurances (500)
We are probably a bit overinsured with disability, life, and accident insurance; there is probably still saving potential here. There was also a mistake because a Riester of 175 then flows into the home Riester and would no longer have to be paid here. So about 500 per month will be paid here (because an additional risk life insurance is added).

General consumption + children’s consumption + ETFs (500)
Only the ETFs are monthly mandatory expenses here; everything else are precautionary write-offs for clothing and “fun” – a new phone every few years or clothes/shoes, etc. for the kids also need to be bought. I roughly averaged it out monthly over the year, probably it’s actually less, but as I wrote above, I prefer to calculate it pessimistically rather than optimistically.

In short: I don’t think we live extravagantly or excessively, but currently we don’t worry too much because every small additional expense is easily covered each month. The points for “consumption” in the list above are all items added for safety and do not represent mandatory expenses.
 

nordanney

2021-05-05 10:06:22
  • #3

I told you. There is a lot of buffer in it and serious thoughts about financing are not necessary. That
 

Grundaus

2021-05-05 14:09:52
  • #4
The interest rate for Riester financing includes all ancillary costs, which can be very high with Riester. Hopefully, it is not a Riester home savings contract. Are the disadvantages of Wohn Riester known? Which renovations (heating) does the chimney sweep demand immediately? and which are only requested?
 

AnnaTake

2021-05-05 14:13:43
  • #5
I openly admit that I do not know the disadvantages of the Riester home financing or the "very high" additional costs and ask for clarification. That is exactly why I am here!

However, it should be considered for the financing offers proposed so far that these are already (interest rate-wise) the best offers we could currently get. Other options, such as financing the entire amount with Deutsche Bank or DSL Bank (which we actually do not want), would be in the area of a 1.7% interest rate.

The chimney sweep currently does not demand anything; the last comment was roughly "only replace the boiler when it dies, not before!"

Otherwise, for the planned 20k, only light flooring work (own contribution), a new kitchen (own contribution), and minor things are planned.
 

Grundaus

2021-05-05 14:29:08
  • #6
I believe it goes beyond the scope here to list the disadvantages of Wohnriester in detail. Wohnförderkonto and förderschädliche Verwendung are keywords here. If it is a Bausparvertrag, no repayment is made in the first years but the Bausparvertrag is saved up, which then necessarily repays the loan. The few € of subsidy are certainly not decisive as to whether the financing works or not. There are also other possibilities for tax refunds, especially for freelancers. If the income of a freelancer is regularly, preferably monthly, roughly the same over years, I think banks will finance as well. What does the house bank or broker say?
 

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