Is financing feasible?

- Savings account 5000€ + home savings contract at Wüstenrot: currently available amount for me is 7000€, for my wife I unfortunately don't know.

Why don't you talk to your local Wüstenrot contact person? He can tell you within seconds which capital is available in which contract and how. By the way, maybe you could ask him for a financing offer. Annuitized loans through Wüst.Bank or Württ.Vers are possible there, with or without Riester subsidies, plus Kfw and all sorts of options. When is your "dream house" supposed to take shape? And before I forget, congratulations on the wedding.

We estimate costs for house + land at about 250,000€. There is an offer at immobilienscout for this price. The house has 156m2. Land 406m2. Is the land too small?? We wanted to get offers from Interhyp.

Your 250K plus at least 5.5% incidental costs plus equity of about 5% - hmm the ratio doesn’t look very good. From a creditworthiness point of view, the financing fits, but it could be tight with the securities. Your known equity is already completely eaten up by incidental costs, if a broker is involved then it’s dead, unless you have substitute securities.

Why don't you talk to your Wüstenrot contact person on site? He can tell you within seconds which capital is available in which contract and how. By the way, maybe you should ask him about a financing offer. There, annuity loans are also possible through Wüst.Bank or Württ.Vers., with and without Riester funding, plus Kfw and all sorts of things. When is your "dream house" supposed to take shape? And before I forget, best wishes on your wedding.

Your 250K plus at least 5.5% incidental costs plus equity of around 5% - hmm, the ratio doesn't look quite right. From a creditworthiness perspective, the financing fits, but it could be tight with the securities. Your known equity is already completely eaten up by the incidental costs, and if a broker is involved, the thing is dead unless you have substitute securities.

The house will certainly be built first in 2012. But you should already take care of the plot. I have also heard that you should not get the plot and the house from the same provider, is that true? That means, saving, saving, saving further!!!!

Hello,

I would also handle the property and the house as two separate transactions. If you combine them into one transaction, you might have to pay the real estate transfer tax on the entire amount, possibly also a broker's commission. The notary fees would also increase because they take a higher value as a basis.

On Immoscout, there are often offers with property and house, although it usually concerns a single project. I have also not heard of anyone getting by with the amount stated in such offers in such cases.

We first bought a property and are now planning the house, which we want to build in 2012. This approach made sense for me because we paid for the property ourselves and, in addition to the rent, we did not have any additional burden from a loan installment.

Best regards Bubb

The house will certainly not be built until 2012. But one should already start taking care of the plot of land. I also heard that you shouldn't get the plot and the house from the same provider, is that true? So, that means keep saving saving saving!!!!

I absolutely don't want to discourage you, I just want to point out a few things that are occasionally overlooked.

And yes, it means saving, saving. Have someone calculate how much you still need to pay into each of your home savings contracts so that you can (possibly with a short interim financing) use them to buy the plot. I don't know your contract sums, home savings contract tariffs, or the linked repayment rates, so I can't give any concrete advice here. If you want, send me the contract numbers via PM, and I'll take a look.

And yes, it is definitely as Bubb says: it is worth separating the plot purchase and the building contract. Property transfer tax and notary fees (together about 5.5%) then apply only to the plot purchase, not to the total investment. But if you can't pay for the plot with your own funds, it is of course advisable not to buy it a year before construction starts.