Financing - Loan agreement signed

2016-07-14 17:05:13

Is the building plot so expensive in your case?

Best regards
Sabine

2016-07-14 17:32:23

If Bavaria is listed as the construction site, it will probably be expensive. Although I would only consider expensive starting from 400-500€ per sqm.

But even here on the cheaper edge of the Ruhr area, the sqm costs 230€ (20,000 inhabitants village). At 800sqm, that's already a big gulp from the bottle.

2016-07-14 19:41:23

Loan: 720,000 Euros
Interest rate: 1.73% p.a.
Annuity: 2200 Euros/month, due at the end of the period
==> Calculated term: 36.92 years, remaining debt after 25 years: 284,250 Euros.

Thank you. I think we can calculate... ... of course we will make special repayments, otherwise you would never be done. But I prefer a "low" fixed rate and handle everything with a special repayment... we can change the repayment rate twice for free... so everything is great... and therefore everything will be paid off in 25 years!!!!

Is the building plot that expensive in your case?

Best regards
Sabine

Unfortunately yes :-( We pay 1100/sqm... the Munich area after all. But a plot is being sold nearby for 1300, so I think we were incredibly lucky. Still crazy prices!

2016-07-14 19:46:56

Thanks I think we can calculate... ... of course we will make special repayments, otherwise you’ll never be finished. But I’d rather have a "low" fixed rate and do everything with special repayments... We can change the repayment rate twice for free... so everything’s great... and therefore everything will be paid off in 25 years!!!!

Unfortunately yes :-( We pay 1100/sqm... around Munich after all. But in the neighborhood a plot is being sold for 1300, so I think we got insanely lucky. Still crazy prices!

WOW.. and I thought our prices were "crazy" at just under 300 per sqm. Ok, we have over 1000 sqm of land.

Cheers, Steffen

2016-07-14 20:29:10

WOW..and I thought our prices were "perverse" at just under 300 per sqm. Okay, we have over 1000 sqm of land for that.

I can only say "cute"

2016-07-14 21:50:43

Thanks! I think we can count on that

You're welcome, I can only do this with the help of (online calculators, Excel ...) ... and just wanted to reassure myself (in my case it takes significantly longer than 25 years mathematically) and deter copycats who can't do the math.

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Financing - Loan agreement signed

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Steffen80

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