Is building a house possible with our savings and financing?

Hello - so recently we financed through an independent advisor / broker. We are very excited :) !! Summarized (as we understood it) - every bank apparently has its own "budget calculation" and if XY doesn’t finance you, you can get financing from CZ and the advisor has an overview of which banks those are. So = dare to try and I’m keeping my fingers crossed.

As far as I understood, I’m not allowed to name the person here !? :confused: but if you write me an email you can - right!? So - if interested - get in touch :rolleyes:

You don’t detach yourself with a property... you make yourself dependent.
You should do that at a time when you can live with the consequences, in other words, when you want to settle down.
What if one salary from the AdW fails?
... one of you changes in 5 to 10 years and the other doesn’t go along? (Separation and forced auction?)
A house where all your energy and money flows into will be a marriage problem anyway.
Please don’t do that to yourselves yet, but get an apartment and see where life takes you.
Best regards yvonne

Simply put - our payment is just a little higher than our rent back then, so you don’t need to go through 1000 "what if" scenarios now - that would drive you crazy :eek: And we would have had to pay rent anyway - one way or another - now we just have a house for a little more :) Our financing advisor got us a reasonable, secure financing - that’s why I say - get advice :D

*shaking head*

What does a financial advisor live on? On closings or deals.
But they don’t bear any risk. The bank does, which is why they rarely finance someone into ruin. The banks have nothing to gain if a foreclosure takes place at the AdW (cool abbreviation, I didn’t know that yet) and, due to the location, it results in a large loss, possibly in the six-figure range. A young person then pays for this mistake their whole life.
But of course, a consultant doesn’t care about that.

So, our advisor didn't leave anything to chance - we planned the financing for the entire term, with an installment that we can always afford (as mentioned - the amount of the installment is like rent) and a term life insurance (in case someone dies) is also included. Although the advisor is an independent advisor, she works like the bank employees. She receives a commission from the bank, just like a bank employee, for example at [Postbank], only that she carries a higher risk, because (I had also looked into this) she can be personally charged in case of misadvice, whereas the employees in the bank have the whole bank behind them – so who has the lower risk there? In addition, we also compared banks with the offers from the advisor. She explained the financing options to us and showed us where we would have what total expenses. She was always 0.5% cheaper with the interest rate and also in terms of total expenses, and now I even 100% understand what kind of contract I have – the banks didn’t have that kind of patience.

... then I am happy for you, Luisa... at least you sound content and happy, and that is how it should be.

Still, I warn against forcing yourself to commit to financing if the calculation of living expenses is already being fudged and one has to prepare for sacrifices in life.