Home financing - low initial rates / rapid increase?

2016-03-21 18:40:14

Please take income reduction due to children into account!

2016-03-21 19:37:52

I think that with version 2 I will save 2 years -> In 2 years around €60,000 + approx. €20,000 other assets (building society savings/inheritance) will create a nice amount of equity. The plot of land (€75,000) will most likely be purchased beforehand, as it represents the perfect location for me.

In what kind of region am I operating with the possible credit limit (land + house)? I assume €80,000 equity as well as a net salary of €4,500.

That sounds reasonable! Saving for 3 years is also okay... time passes so quickly.

Also, don't think about a possible credit limit, but approach the matter the other way around. How much installment do I want! (not can!) to afford? The amount of the installment = credit limit plus equity then results in the budget for the house. It's that simple..

2016-03-21 19:54:22

Well, if you save for even longer, a "lot" of rent will also be lost that you could invest in the house.

Still, I want to start planning the house construction now. I think you can never start early enough. I will plan the house myself as much as possible and contribute a large part of the work myself. Can you give me methods/ literature/ approaches or other tips on how to start?

Regards

2016-03-21 20:18:01

When waiting, you at least save on depreciation - that's still 360 € / month - assuming your house costs 300,000 € and lasts 70 years... much more difficult is the issue of interest (although they will probably remain at least reasonably low) and the cost increase of building land and building materials.

2016-03-21 21:02:01

Well, if you save for even longer, a "lot" of rent goes down the drain that you could put into the house.
Regards

Wrong! For that, you get to live there. Or does money also go down the drain that you spend on food? Then you should stop eating.

2016-03-21 21:58:19

Yes, that's true. But the quality of life in your own house should be better than in the previous apartment. Otherwise, you have done something wrong. And the house eventually belongs to you. The rented apartment does not.

And okay, I'll stop eating for today.

Similar topics
12.03.2013	What is the maximum rate for a net salary of 3,000 euros?	24
22.07.2015	Young family wants to buy a house, but does the installment fit?	15
11.08.2015	What can I realistically afford as a rate?	51
14.12.2015	Does my rate match the salary?	38
03.09.2016	Interest rate / rate - bank calculation	16
13.12.2016	Realistic monthly rate	59
22.03.2017	Is a high first installment common in a payment plan?	23
11.11.2018	KFW negatively affects the rate. Still use it?	11
27.05.2019	Feasible? Your assessment regarding the rate and plan	44
06.02.2022	Knowing the credit limit one year in advance – is that possible?	35
17.07.2022	Single-family house: Is the rate realistic? How much house can we afford?	177
25.09.2022	Financing monthly installment €2500 with 40 years term	117
08.12.2022	New rate twice as high - experiences	107
01.01.2024	How much installment can we afford?	42

Home financing - low initial rates / rapid increase?

Uwe82

Steffen80

Neu-Bau-Ling

Legurit

Steffen80

Neu-Bau-Ling