Katha2412
2011-09-25 11:56:12
- #1
Hello dear ones,
my name is Katharina, I am 25 years old and have a 1-year-old daughter. My boyfriend Michael, 30 years old, is the father of my daughter.
We are interested in the topic of home financing. We want to buy/finance a house in about 5-6 years. My boyfriend is expected to receive a permanent contract with a 90% probability next year, I will finish my apprenticeship next year and then earn 1600 euros net. He currently earns 1600 euros net as a non-permanent employee. We are not married yet, but we plan to be.
Unfortunately, we know almost nothing about the topic, meaning we have 1000 questions for you, I’ll just start and hope you can help us.
- How much equity should one have nowadays to build?
- What are the disadvantages and advantages of 100% financing, meaning financing without equity?
- What counts as equity?
- What are the requirements for a normal financing and for 100% financing?
- How can you save equity the fastest? Stocks, funds, building savings contracts?
We are thinking of a property up to 280,000 euros.
Just tell us something, at the moment we pay no rent, the apartment is in his parents’ house. Our expenses including rent if we decide on a rental apartment next year would be estimated at 2000 euros with everything included, so we would have 1500 euros left monthly.
Oh, maybe it’s worth mentioning that I now have a building savings contract in which the employer pays 40 euros advance, we both have a private pension insurance into which we (I 60 euros), he (80 euros) have been paying monthly for 2 years.
Best regards Katharina and Michael
my name is Katharina, I am 25 years old and have a 1-year-old daughter. My boyfriend Michael, 30 years old, is the father of my daughter.
We are interested in the topic of home financing. We want to buy/finance a house in about 5-6 years. My boyfriend is expected to receive a permanent contract with a 90% probability next year, I will finish my apprenticeship next year and then earn 1600 euros net. He currently earns 1600 euros net as a non-permanent employee. We are not married yet, but we plan to be.
Unfortunately, we know almost nothing about the topic, meaning we have 1000 questions for you, I’ll just start and hope you can help us.
- How much equity should one have nowadays to build?
- What are the disadvantages and advantages of 100% financing, meaning financing without equity?
- What counts as equity?
- What are the requirements for a normal financing and for 100% financing?
- How can you save equity the fastest? Stocks, funds, building savings contracts?
We are thinking of a property up to 280,000 euros.
Just tell us something, at the moment we pay no rent, the apartment is in his parents’ house. Our expenses including rent if we decide on a rental apartment next year would be estimated at 2000 euros with everything included, so we would have 1500 euros left monthly.
Oh, maybe it’s worth mentioning that I now have a building savings contract in which the employer pays 40 euros advance, we both have a private pension insurance into which we (I 60 euros), he (80 euros) have been paying monthly for 2 years.
Best regards Katharina and Michael