Is financing without equity realistic?

2014-08-20 13:23:58

Child benefit and maintenance are clearly not certain. But if the kids actually want to live somewhere else for whatever reason, don't forget that I can work full-time again then. The interest rate is given by the calculator. Earthworks are done by my brother-in-law's company. Electrical work is completely done by ourselves. Roof covering as well. Companies are only needed for screed, roof construction, heating, windows, plastering. The question is, at the moment we pay about 1300 euros for a house that doesn't belong to us. If I take this money for my own house, at least it's for me and later for the children.

2014-08-20 13:28:51

The shell construction costs us 50,000 Euros and that is 1/3 of the house, leaving 100,000 for the house and 50,000 ancillary building costs.

Please don’t be mad at me, but EUR 100,000.00 for the complete finishing of 240 sqm seems hardly feasible to me. You might still need a kitchen and there will be quite a bit more coming your way.

There will be no double burden on us, as from the start of construction we will live with my parents-in-law. We are well aware that it is an enormous time effort. But show me the bricklayer who does not want to build his own house himself :)

That’s already good. I can well understand that your husband naturally wants to build his own house.

I just ask you to calculate the whole thing very precisely and in detail – once you have started, there is no turning back.

Better to apply for a higher loan with the option to repay part of it free of charge than to have to refinance expensively (as probably subordinated)…

2014-08-20 13:31:43

I can only agree with Doc.Schnaggis. Despite a lot of personal effort, I also have serious doubts that the figures for the house construction are correct. What exactly is included in the shell construction? And what is included in the remaining 100,000?

2014-08-20 13:33:34

You say you are now paying €1,300 for the house. What about the other €500? You write that you have €1,800 left in total. So why don't you have any equity? And where is the difference supposed to come from all of a sudden?

2014-08-20 13:44:57

2014-08-20 13:46:44

We have now been a family for 7 years and many new purchases came our way. Besides that, there was also a wedding. :) And honestly, there hasn't really been a big reason to save much so far.

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Is financing without equity realistic?

mueckeak

Doc.Schnaggls

Bauherren2014

Bauherren2014

mueckeak

mueckeak