Financing house construction project 2020

We also borrowed €200,000 at the beginning of the year. However, the interest rates for this year were unfortunately the worst. We repay €734 per month at 1.4% interest. After 15 years, there is still a remaining debt of about €100,000 (without special repayments). I also consider a 25-year term to be exaggerated for this amount. The interest portion for us amounts to about €229. With the loan-to-value ratio and today's conditions, the interest should easily be halved. For safety, I would still prefer to borrow an additional €20,000. If it is not needed, it can be repaid early accordingly. Best regards

For the manageable amount, I would also take some risk and go for 10 or a maximum of 15 years. It won't break your neck if there is still a remaining balance after the financing period ends.

Respect for your saving effort!!

Have them include a 5-10% special repayment option so you can make additional repayments diligently.

Thank you very much for your contributions.

Yes, thanks, you just had to make compromises and know what you want. An expensive car, expensive holidays, or hold back something and save for the house.

So I think we will have it calculated for 20 years, then we would still have a remaining amount of about 67k without special repayments. We also want to spend a bit more money at some point and still have a desire to have children : )

Yes, thanks, you just had to make compromises and know what you want. An expensive car, expensive vacations, or hold back something and save for the house.

Respect. Knowing what you want is only one side. Acting accordingly is a whole different matter.

Special repayments at 0.5% – a very safe option. I tend more towards investing with higher returns while giving up "absolute security" (and this is explicitly not advice to speculate – speculation is something for "play money").

Equity currently: €164,000 - saved up

Wow! Exemplary!

House costs will be approximately €320,000.

I bet the exterior work was a bit shortchanged there.
At €350,000 I’m on board!
€280,000 house
€30,000 ancillary construction costs
€20,000 buffer
€20,000 exterior

We would want to pay off with €750 so that we still have some margin.

You can afford it. Even according to my calculation.
The payoff amount of €750 is set too low. Don’t be afraid if you end up at €900.
I myself prefer to be safe, which is why the calculation was adjusted. With current interest rates, that is comfortably manageable for you.
You have already proven that you are disciplined.

We now have an initial offer: 200000€ 20 years fixed at 1.21% with special repayment. Is there still room for negotiation or acceptable given the current interest rate level?