ArthHaus
2020-11-03 08:07:19
- #1
Hello everyone,
here is the checklist and the first offers. We want to start construction at the beginning of next year and have now received the first financing offers. From what I have read here in the forum so far and what I have heard from acquaintances, I was quite taken aback when I saw the numbers. I would be interested in your opinion on this.
Thanks!
General information about you:
Income and asset situation:
Housing costs:
Mobility costs:
Applies to 2 cars in the household
Insurance costs:
Living expenses:
Savings contributions:
It should be noted that we only have the two "high" salaries since last month and previously did not save anything.
Other expenses:
none
Income and expenditure totals:
Bank assumption - living expenses - €1450
Real as stated here – €1550
General information about the property:
Construction or purchase costs:
Cost breakdown:
House planned and building application submitted - 170 m² - solid brick with full clinker - KFW 55 - 2 full floors - solid double garage - without basement - geothermal with deep drilling - overall normal(+) equipment
About the loan:
Our requirements were: KFW 153 - installment about €1700 - no significant equity deployed, 100% financing
Here are the 2 best offers so far:
Component - loan amount - term years - nominal interest rate - initial repayment - installment
Bank1:
KFW 153 - €120,000 - 10 - 0.95 - 4.8 - 575 - will be redeemed after 10 years by an existing building savings contract, which still has to be paid with €20,000 in 10 years.
NRW.Bank - €70,000 - 30 - 1.55 - 2.73 - 250 - is paid off after 30 years
Bank1 - €320,000 - 30 - 1.84 - 1.44 - 875 - after 10 years the installment will be adjusted here to be paid off in 30 years (5 x repayment change - 5% special repayment p.a. possible)
What I like here is the interest rate security over the entire term and the clear process which is finished after 30 years, the installment is kept, interest rates seem to me mostly high.
Bank2:
KFW 153 - €120,000 - 10 - 0.95 - 3 - 395
KFW 124 - €100,000 - 10 - 0.84 - 3.76 - 383 - after 10 years about €125,000 remain, which we could secure with already existing building savings contracts, but we would have to save €45,000 in 10 years – unrealistic?!
Bank 2 - €100,000 - 15 - 1.57 - 2 - 298 - €49,000 after term - could maybe be minimized by special repayments. Where this extra money should come from - questionable!
NRW - €180,000 - 30 - 1.55 - 2.73 - 642 - is paid off after 30 years
Here I only like the maintained installment - interest seems high on the bank loan for 15 years - many components and multiple interest rate change risks - longer term for the bank loan not possible
Actually, we definitely wanted to finance with one of the two banks. Unfortunately, I can’t immediately accept either offer with a smile here.
I’m curious what you say, best regards!
here is the checklist and the first offers. We want to start construction at the beginning of next year and have now received the first financing offers. From what I have read here in the forum so far and what I have heard from acquaintances, I was quite taken aback when I saw the numbers. I would be interested in your opinion on this.
Thanks!
General information about you:
[*]How old are you? 29 & 26 married
[*]Do you have children? No
[*]Are children planned? In about 5 years
[*]What do you do professionally? Engineer and teacher (employee and civil servant)
[*]How many hours do you work? Both full-time
Income and asset situation:
[*]What income do you have? Together 6000 net, rising to about 6500 in one year (man 3500 & woman 3000)
[*]How much child benefit do you get? -
[*]Other transfers? -
[*]How much equity do you have? €30,000
[*]How much of this equity do you want to invest in the house project? €20,000
Housing costs:
[*]Current warm rent - €1000
[*]Electricity – €60
[*]Telephone, internet, mobile phone - €150
Mobility costs:
Applies to 2 cars in the household
[*]Insurance - 100
[*]Taxes – 100 p.a.
[*]Fuel - commuter/autogas – €200
[*]Repairs – €1000 p.a.
Insurance costs:
[*]Private health insurance - 390
[*]Liability insurance/household contents - 20
[*]Capital or risk life insurance – to be concluded shortly
[*]Disability insurance - 30
Living expenses:
[*]Groceries - 300
[*]Restaurant costs - 100
[*]Care/drugstore - 50
[*]Clothing - 50
Savings contributions:
It should be noted that we only have the two "high" salaries since last month and previously did not save anything.
[*]Building savings contract 1 with 130 (currently 2600 €)
[*]Building savings contract 2 with 40 (currently 2400 €)
Other expenses:
none
Income and expenditure totals:
Bank assumption - living expenses - €1450
Real as stated here – €1550
[*]Total income - 6000
[*]Total expenses – 2550
[*]Balance 3450
General information about the property:
[*]How large is the plot? 1028 m²
[*]What are its dimensions? About 17.2 m x 60
[*]What is the standard land value? €100 / m²
[*]New build, old building (year built), type of house? New build
[*]Garages? Double garage
[*]How large is the house? (living area / usable area) – 170 m²
[*]What is the market value of plot and house after completion? …
Construction or purchase costs:
[*]Plot costs €90,000 – remaining debt €87,000 variably financed
[*]Development costs - 0
[*]Construction or purchase costs (incl. architect, structural engineer) €423,000
[*]Additional construction costs (e.g. house connections, soil expert, construction electricity, etc.)
[*]Outdoor facilities/terrace, paths, garden design, fences, etc... – here we still expect about €20,000 + €25,000 kitchen which we will cover from our own funds
[*]Total costs 530,000
Cost breakdown:
[*]Total costs – €530,000
[*]Deductible equity – €20,000
[*]Financing amount – €510,000
House planned and building application submitted - 170 m² - solid brick with full clinker - KFW 55 - 2 full floors - solid double garage - without basement - geothermal with deep drilling - overall normal(+) equipment
About the loan:
Our requirements were: KFW 153 - installment about €1700 - no significant equity deployed, 100% financing
Here are the 2 best offers so far:
Component - loan amount - term years - nominal interest rate - initial repayment - installment
Bank1:
KFW 153 - €120,000 - 10 - 0.95 - 4.8 - 575 - will be redeemed after 10 years by an existing building savings contract, which still has to be paid with €20,000 in 10 years.
NRW.Bank - €70,000 - 30 - 1.55 - 2.73 - 250 - is paid off after 30 years
Bank1 - €320,000 - 30 - 1.84 - 1.44 - 875 - after 10 years the installment will be adjusted here to be paid off in 30 years (5 x repayment change - 5% special repayment p.a. possible)
What I like here is the interest rate security over the entire term and the clear process which is finished after 30 years, the installment is kept, interest rates seem to me mostly high.
Bank2:
KFW 153 - €120,000 - 10 - 0.95 - 3 - 395
KFW 124 - €100,000 - 10 - 0.84 - 3.76 - 383 - after 10 years about €125,000 remain, which we could secure with already existing building savings contracts, but we would have to save €45,000 in 10 years – unrealistic?!
Bank 2 - €100,000 - 15 - 1.57 - 2 - 298 - €49,000 after term - could maybe be minimized by special repayments. Where this extra money should come from - questionable!
NRW - €180,000 - 30 - 1.55 - 2.73 - 642 - is paid off after 30 years
Here I only like the maintained installment - interest seems high on the bank loan for 15 years - many components and multiple interest rate change risks - longer term for the bank loan not possible
Actually, we definitely wanted to finance with one of the two banks. Unfortunately, I can’t immediately accept either offer with a smile here.
I’m curious what you say, best regards!