Is financing for a semi-detached house feasible?

  • Erstellt am 2015-11-10 20:01:23

FloSchn

2015-11-12 18:20:47
  • #1
So your plan is definitely doable.
The "how" is a bit more difficult.

The following question is crucial to find the right solution:
What is your biggest concern regarding the financing?

Once you have an answer to that, I will show you the suitable options.
 

danielnrw84

2015-11-12 20:07:21
  • #2
Thank you very much first of all for the great answers.

My concern with the financing is simply that I am wondering whether, in just under 28 years as the bank calculates (at 2.39% for 15 years), the installments starting at just under 850-900 euros worry us less.

My renovation is hopefully well calculated for 50k. Since the upper floor doesn’t require as much work as the lower one. Now my offer from a savings bank, but still without the private 20k:

160k at 2.39% fixed for 15 years
Monthly just under 620 euros (repayment 2.4% I think)
50k KFW 124 1.75% and 2% repayment for 10 years.
In the 1st year 130 euros, then just under 200 euros.
Remaining debt KFW after 10 years: 39k
Remaining debt bank after 15 years: 90k.
However, I (by nature I am a pessimist) am afraid that I won’t be able to repay the remaining debt within a maximum of 15 years at a maximum of the same rate, because the interest rate will eventually rise...
I am just an insecure scaredy-cat, and bank advisors are always potentially only after my money for me.
The last one immediately wanted to include Wohnriester, but he couldn’t explain it 100% understandably.
What do you think about it?
 

oleda222

2015-11-13 07:37:35
  • #3
If you are worried that your income increases in the next 15/30 years will lag behind inflation, you should avoid long-term loans, regardless of the bank/conditions...
 

HilfeHilfe

2015-11-13 07:49:10
  • #4


Hello

then just ask for a 20-year fixed interest period alternatively and make regular extra repayments. That way you’ll also get rid of the remaining debt
 

Legurit

2015-11-13 08:00:48
  • #5
Just as a side note.. worst case: you sell after 15 years and move back into the rental apartment... same result as if you stayed living there from the start. Certainly not nice, but it wouldn’t be a step backward, just a step sideways. The important thing is that your financing doesn’t lead to your daily life being affected – so that you feel like you don’t have enough money to live on. It’s unclear whether that is naive thinking, but if it really comes to the point that you have to sell after 15 years, then it just comes to that – still better than a serious illness or other misfortunes. You don’t stroll through life all day long worrying about it…
 

arubau36

2015-11-13 08:08:53
  • #6
Hi, wohnriester is not bad. However, Wohnriester saving is only suitable if you also intend to live there forever because of the subsidies. Otherwise, you have to pay back the subsidies. The "Riester" program is well suited for families with children. For the child, you receive allowances as long as they receive child benefits. And you must pay in at least 4% (I believe) of your net salary to fully take advantage of Riester. But beware: banks also like to have Riester in their loans after allocation maturity. That means you get none of your allowances, but the bank does. And the disadvantage of the Bausparen-Riester is that it is not flexible. And if you are interested in it, then make sure the contract fee is below 3%. Because at the beginning, with the conclusion of the contract, what you pay is offset by the fee. I made that mistake :(
 

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