Is buying a house sensible in the current market situation?!

  • Erstellt am 2020-09-23 14:32:32

Alibert87

2020-09-24 11:16:10
  • #1


We are currently paying "only" 1100 euros. Accordingly, there would be an increase (such a rate would certainly be possible). But whether one feels comfortable with it is another matter.

With the mentioned amount of about 600K and the equity, is a rate below 2000 euros sensible or feasible (e.g. loan term or special repayments)?
 

Alessandro

2020-09-24 11:22:10
  • #2
well, but you also have an equivalent value for it
 

Hausbautraum20

2020-09-24 11:55:09
  • #3


Mathematically, with a 520k loan, a rate of 1600€ at 1% interest until retirement would be sufficient.
But you will have to talk to your banks individually about that.
One bank wanted to "sell" us a rate of 1500€ so that we could manage it well. But then we would have paid off after 37 years.
This bank was reluctant to accept a higher rate and higher special repayments would have made the interest more expensive.
Our other bank had no problem with an 1800 rate and so we hope to have paid off our 520k "already" in 28 years. With planned special repayments, maybe even significantly earlier.
 

Crossy

2020-09-24 13:05:27
  • #4
We also have a monthly payment of just under 1800 euros for a 520k loan. The initial repayment rate is then around 2.8x%. Fixed interest period is 20 years. However, we also plan to make special repayments, which we want to make from our bonus payments. At least from about the fourth year in the house. Without special repayments, the loan term is around 30 years. You just have to consider when you want to be finished and how high your affordable payment is. Below 2k is certainly possible, but then without special repayments it’s a long term.
 

Alibert87

2020-09-24 13:09:05
  • #5


Was there a period of financial cutbacks for you? Like parental allowance, or part-time work, etc.? Because permanently €1800 is quite ambitious (from my current perspective).
 

Crossy

2020-09-24 13:14:09
  • #6

The loan is just high. Permanently with, for example, a 1600 euro installment, you just have a long term. Then money has to be set aside for times like parental leave. If that is not possible, the installment is anyway too high.
 

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