again: the 56000EK, that’s basically half the property you’re being gifted?
Who’s building next to you??? or is the other semi-detached half on a different plot and has nothing to do with you/your family?
and btw: if you’re only counting on rental income of 300€, I’d reconsider the granny flat... If I estimate the additional costs of the granny flat at 70000 with 1% repayment and 4% interest rate, that’s about ~300€ per month in payments to the bank… you can offset the 300€ rental income against the depreciation of the apartment and the interest costs so that it remains tax-free...
in the end you get 300€ that you immediately pass on to the bank... every depreciation, every repair, every vacancy etc. comes out of your assets.. so a pure loss business...
and as I said: can you manage the 1500 rate if you have children?
Yes exactly, we get the other half as a gift. In return, my mother gets the right to use the apartment for 8 years as compensation, and during the baby break, for two babies, then 4 years at 300€/month.
Sure, I’ve thought a lot about the granny flat, but if I don’t build it, I have to pay my mother 40,000€ immediately... and whether that’s better, I don’t think so... I also can’t declare the granny flat for tax purposes in the first 12 years because it’s registered in my mother’s name.
On the slope, however, I have to build a basement, on this plot you can’t do without a basement. A normal basement will also cost at least 35,000€.
Building on another plot would cost me at least 15,000€ for the slab. But since I would have zero equity then, that’s also bad. So I need to calculate 336,000€ (land + house + ancillary costs + slab). What’s better now?? I’ve thought a lot about it too.
We’ve calculated it precisely, and we should be able to manage it... especially since we also get the 300€ granny flat income during the baby break and parental allowance etc.
Either my brother builds next to us or it gets sold... it’s not certain yet, but can I really care either way?