Ecobrass
2025-11-02 14:55:21
- #1
Good day everyone,
thank you very much for this forum!
I have been reading diligently here in the past few days and have already picked up quite a bit – including about the KfW funding 308 and 261.
Regarding the situation:
After the seller of our first desired property unexpectedly backed out (he originally wanted to emigrate, but then decided not to), a new property came on the market last Monday completely unexpectedly.
In our opinion, this one is significantly better, but also considerably older.
Year of construction 1962 – except for an extension from 1980 everything is still original. Oil tile stoves, no drainage despite the slope location, etc. ... so definitely quite a bit to do.
There is a granny flat as well as an attic, which already has masonry and is expandable.
We agreed during the viewing on Thursday. However, the broker said there are three interested parties who also want to buy.
Therefore, we will meet at the site next Thursday with the three of us – each will submit their highest bid on a blank sheet of paper.
The current asking price is 240,000 €.
We are considering offering 252,000 € – hoping that the others offer 250,000 €.
However, of course, this also depends on your experiences and assessments.
Financing basis:
My wife was transferred the house of her parents last year, in which we have lived together in the granny flat for nine years and have been handling the repayment from the beginning.
The parents originally contributed around 70,000 € in equity.
With now two children, however, the whole thing has become too small.
The house has a market value of about 300,000 €, of which about 100,000 € are still outstanding.
Thus, my wife is registered as the owner in the land register – but I am not.
Around 200,000 € should remain from the sale.
Funding / Renovation:
Luckily, KfW has lowered the requirements for program 308 to EE85.
Since the new house has two residential units, 2× KfW 261 at 150,000 € each would also be possible.
With the EE85 standard, there is an additional 10 % + 10 % funding for a “Worst Performance Building”.
We estimate (since we have someone good on almost every trade) about 2,100 €/m² renovation costs.
With that, at 145 m², we would come to around 290,000 € and would expand the living space to about 200 m² through the attic extension.
(The attic extension can partly be financed from own funds, but the roof renovation with dormer is supposed to be part of KfW 261.)
Planned financing:
125,000 € → KfW 308
250,000 € → KfW 261
Rest (50,000 – 100,000 €) → local bank
Bridge financing until the sale of the current house
For KfW 308, I alone would be the applicant, since I am not in the land register.
Now I have read here in the forum several times that this program (KfW 308) is sometimes “torpedoed” by banks because they want to profit from the loans themselves.
Has anyone of you already had concrete experience with this?
I would be really very grateful for your assessments – because our bidding behavior strongly depends on whether KfW cooperates or if everything has to be financed at 3.6 %.
Best regards
thank you very much for this forum!
I have been reading diligently here in the past few days and have already picked up quite a bit – including about the KfW funding 308 and 261.
Regarding the situation:
After the seller of our first desired property unexpectedly backed out (he originally wanted to emigrate, but then decided not to), a new property came on the market last Monday completely unexpectedly.
In our opinion, this one is significantly better, but also considerably older.
Year of construction 1962 – except for an extension from 1980 everything is still original. Oil tile stoves, no drainage despite the slope location, etc. ... so definitely quite a bit to do.
There is a granny flat as well as an attic, which already has masonry and is expandable.
We agreed during the viewing on Thursday. However, the broker said there are three interested parties who also want to buy.
Therefore, we will meet at the site next Thursday with the three of us – each will submit their highest bid on a blank sheet of paper.
The current asking price is 240,000 €.
We are considering offering 252,000 € – hoping that the others offer 250,000 €.
However, of course, this also depends on your experiences and assessments.
Financing basis:
My wife was transferred the house of her parents last year, in which we have lived together in the granny flat for nine years and have been handling the repayment from the beginning.
The parents originally contributed around 70,000 € in equity.
With now two children, however, the whole thing has become too small.
The house has a market value of about 300,000 €, of which about 100,000 € are still outstanding.
Thus, my wife is registered as the owner in the land register – but I am not.
Around 200,000 € should remain from the sale.
Funding / Renovation:
Luckily, KfW has lowered the requirements for program 308 to EE85.
Since the new house has two residential units, 2× KfW 261 at 150,000 € each would also be possible.
With the EE85 standard, there is an additional 10 % + 10 % funding for a “Worst Performance Building”.
We estimate (since we have someone good on almost every trade) about 2,100 €/m² renovation costs.
With that, at 145 m², we would come to around 290,000 € and would expand the living space to about 200 m² through the attic extension.
(The attic extension can partly be financed from own funds, but the roof renovation with dormer is supposed to be part of KfW 261.)
Planned financing:
125,000 € → KfW 308
250,000 € → KfW 261
Rest (50,000 – 100,000 €) → local bank
Bridge financing until the sale of the current house
For KfW 308, I alone would be the applicant, since I am not in the land register.
Now I have read here in the forum several times that this program (KfW 308) is sometimes “torpedoed” by banks because they want to profit from the loans themselves.
Has anyone of you already had concrete experience with this?
I would be really very grateful for your assessments – because our bidding behavior strongly depends on whether KfW cooperates or if everything has to be financed at 3.6 %.
Best regards