Is financing theory practical?

even if there were enough funds within the family to pay for the property in cash.

I agree with everyone’s opinion, it is still too early for you to dare it with your income now.

Let the family buy the property and then pay it off to the family? Or have the family give you a loan.

How much equity would we need to bring in to manage a sensible financing of the entire construction project (600,000€) with a net salary of 5k?

At least 200,000€ or 30%. That would still be a 400,000€ loan. With a net salary of 5k, you'd be struggling with that for 30-35 years (almost until retirement).

A lot of helpful information has already been written. If you ABSOLUTELY want to buy the property, then do it as follows:

- Private loan within the family of 100,000 euros if possible, fix it in writing and repay it monthly
- The rest from the bank within 5-6 years amortizing. This installment is then chosen so that you / you all also get the bank loan.

Thank you for the lively discussion,

Thread can be closed

Thanks for the lively discussion,

Thread can be closed

not so fast, first give the input and then disappear........

what are you doing now *curiously asks*

The solution proposed by Bernie sounds very sexy.

The family planning should definitely be completed within the next 5 years, i.e. the loan must not be too tightly restricted. Nevertheless, we do not want to scrap the project.

Therefore, in the next few days we will sit down at the table in a large group and aim for the solution with the "Familienkredit" or gift.