House found - financing possible?

Yes, the old dining table is really unacceptable when you have built your own home. In the end, the neighbors might still think that you could only afford to build the house on credit... What about your [Außenanlagen]? Finished already or are they waiting for the table to be paid off?

I can only advise you to reconsider the financing. 296,000 * 4.5% = 13,320 * 30 years = 399,600 + 296,000 = 695,600 so seen not a good deal.

But you are mistaken. With a 4.5% interest rate and a loan of €296,000, you pay (e.g., with 1% repayment) €233,000 in interest. With 2% repayment, you are at €193,000 – so for us roughly €200,000 (without special repayments).

€200,000 + €296,000 would then be the correct approach here, so €496,000.

Correct me if I am wrong. Is it really such a bad deal as Hanghaus says?

You really messed up there.
At 4.5% interest and a €296,000 loan, you pay (e.g. with 1% repayment) €233,000 in interest.
With 2% repayment, you’re at €193,000 – so for us around €200,000 (without special repayments).

€200,000 + €296,000 would then be the correct way, so €496,000.

Correct me if I’m wrong.
Is it really such a bad deal as Hanghaus says?

Such a calculation of interest and repayment as a total sum over the term is nonsensical and, as a standalone statement, basically good for nothing.

If anything, please put it in relation to alternatives. For example, house rent of over €1,500 and 30 years, e.g. ==> so €540,000 expenses without rent increases over the next 30 years. And alongside that, please also an additional savings rate to accumulate the €296,000 (I assume the property value would be that high after 30 years) in 30 years.
So to be comparable with the above calculation, having spent €496,000 after 30 years and owning a debt-free house, the renter would have to spend about €840,000 in the same time (of course, he gets interest on his savings but that may be balanced out by rent increases).

Which deal is then better? Renting or buying? No matter how you calculate...

Have fun in your new home at the end of the year! Beautiful house, I'm a bit in love ;)

Hi everyone, I have one final question. We want to initiate the financing this week. We have a few offers for this. For us, only something with 25 to 30 years comes into closer consideration. Everything else is too much risk for me with the family. In the course of this thread, it has already been communicated that the KFW should rather not be included. Are there any experiences regarding this? Which way would you go?

It has already been communicated in the course of this thread that you should rather not include the KFW.

You will have two different terms, one the long main loan, then the 10-year KFW.
After 10 years you will have to refinance the outstanding balance of the KfW loan. That can cause a problem.