Looking for tips on construction financing

  • Erstellt am 2014-05-08 09:41:53

Ärmelhoch

2014-05-08 09:41:53
  • #1
Hello community,
I hope the question has not been asked too often ;) if mine has already been answered before, please just provide a short link reference.
I (m 48) can purchase an old property with 1000m² of land for 60,000. The condition is poor due to its age, but (as a self-employed craftsman for 13 years) I know what I’m getting into. What I don’t know is the suitable construction financing...
Here are the key data: purchase price 60,000, financing requirement 110,000 (conservatively estimated!), equity capital approx. 12,000, monthly income (after tax) approx. 2100,
I want a simple (construction) loan (?!) without obligations through Kfw or the like. Maybe someone has some good links or tips?
Regards
 

HilfeHilfe

2014-05-11 21:01:22
  • #2
Hello,

under the given conditions I see no chance to finance you & your project. You are self-employed with hardly any equity. The renovation is supposed to be financed almost 100%. Please contact your [Hausbank].
 

BauProjekt14

2014-05-11 21:09:00
  • #3
How much is left per month to pay the installments? Please also immediately calculate the adjusted travel costs / electricity and heating costs. That would help here already. The most expensive thing is the house, then mobility quickly follows. How often is a new car purchased? You should also put money aside for that – especially as a craftsman and if you live in the countryside ^^ How much rent is currently being paid? Just calculate everything against each other and feedback here.
 

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