Financing with a building savings contract?

  • Erstellt am 2018-11-20 16:19:05

Yosan

2018-11-20 22:02:01
  • #1
Honestly, I find the interest rates much too high! We have just signed an offer that involved a building savings contract and [kfw] funding for home ownership and, over the respective terms etc., ultimately generated interest rate security for almost 90% of the total amount for the entire term (35 years without special repayments) with significantly lower interest rates and worse financial conditions. So, it can definitely be better for you!
 

HilfeHilfe

2018-11-21 07:26:16
  • #2
Interest rates too high, income and equity far too low. You should also call realistic prices.
 

Tobibi

2018-11-21 08:17:17
  • #3
I find the rate manageable with the income. The interest rates are quite high. 20k equity is practically nothing. If you were to save a good amount more there, it would have a positive effect on the financing.
 

readytorumble

2018-11-21 08:26:41
  • #4
The house also seems to me to be priced too low. What about the costs that are typically to be borne by the builder? Earthworks, foundations, possibly the floor slab, rainwater drainage...

What does the standard electrical installation look like if you don't plan to upgrade there? Usually at least 50 sockets, connection points, etc. are missing. What about network cabling (LAN)? In general, I have a bad feeling because the standard seems to be very low (I deduce from this that tiles, front door, etc. will have to be upgraded).

Regarding the missing equity: What about the caravan? Have you thought about selling it? Only with more equity would the interest rate probably improve significantly. Many thousands of euros can be saved here, which would likely recoup the value of the caravan several times over.
 

Milo3

2018-11-21 08:32:41
  • #5
What do you all have against the interest? The OP will surely have his reason why it is 20k. Suggestions like you can sell your caravan are complete crap... relatively speaking, the interest rates here are "high," but what will the OP have after five years with enough equity? If he’s lucky, the same interest rate, because interest rates have risen, and moreover, the construction costs have remained the same. Did you all sell your belongings for your new build for a ridiculous 0.1% lower interest rate??? By the way, everyone who eagerly adds their two cents about the costs usually built cheaper themselves. This has become evident here again and again :p
 

Tobibi

2018-11-21 08:54:30
  • #6
It should not be an attack on the OP, there is always a reason why the financial situation is the way it is. He asked for an assessment of the financing and the fact is that the interest rate is high and the equity is small. He will possibly accept that. However, I also find the house price set too low. I would carefully check what else will be added.
 

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