Financing single-family solid house for 296,000 Euros

  • Erstellt am 2017-03-09 22:20:07

ypg

2017-03-10 13:32:26
  • #1
I assume that no bank will grant you a loan with only 1% repayment. A repayment plan is created for 30 years, so a higher repayment rate comes out. The money that remains at the end of the year for a possible ST is spent anyway on outdoor facilities, new equipment like lawnmowers and furniture, let's not kid ourselves.
Best regards in brief
 

Nordlys

2017-03-10 19:39:33
  • #2
In 30 years you will be around [unter 60]. The thing has to be paid off by then. Therefore, repay more, borrow less, build cheaper and smaller. Then there will still be something left to live on. Because living in a house is not living yet. Karsten
 

Winniefred

2017-03-16 10:35:02
  • #3
What does your household budget look like? Keep a disciplined household ledger. I think you have a very decent income, currently only one child. Even if the income decreases for a while (how long is one parent supposed to take a break?), and you have 2 children, a decent repayment rate is quite possible. Of course, you shouldn’t scrape the minimum, but in my opinion, you won’t get there with 2 children and less income either, unless one parent stops working forever and remains without income. What is the plan? Going back to work after 1 year? Going back to work after 2 years with split parental leave? Using parental leave plus? There are some nice options now. I wouldn’t repay with 1%. We also finance with Ing-Diba and they recommended a repayment of 3% given the current interest rates. But of course, that’s always a tricky matter. We have a rather minimalist approach. We buy a small house, renovate it step by step from the ongoing costs, and only take the necessary loans for urgent renovations. Besides, we generally live quite frugally, I think. So: keep a household ledger and find out what you really spend and need. We had considerable savings after we tidied up our insurance situation with a financial advisor, etc.
 

NLMS15

2017-03-17 17:50:17
  • #4
Thank you for all the comments so far. We are currently waiting for the new framework conditions of the Z15 loan, which will probably come into effect in April.

By the way, 1% repayment was only intended for the first 2-3 years, which some of you have apparently overlooked.

Best regards NLMS15
 

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