Massive house costs KFW 70 - Prefabricated house

Otherwise, you can only use KfW funds for the house as a whole and not additionally for the condominium - the legislator has put a stop to such tricky schemes.

You can apply for the KfW loan separately for each residential unit, which is why we had a granny flat drawn in. This way we got a loan of €100,000 at 2.0%, perfect.

Oh one more thing: even if you get the KfW loans that come with conditions, you would have to repay them within the next 10 years. They have a maximum term of 10 years. Anything left after that would have to be refinanced very expensively.

Do you have a crystal ball at home, or how do you know what the interest rate will be in 10 years?


@ philipp1983

So my opinion about your construction project is probably the same as the majority opinion here: without equity (in the form of cash here) I would not dare such a construction project.
Although I must say, I quite like your little house in your animation.;-)

You can apply for the KFW loan separately for each housing unit, and this is the only reason we had a granny flat drawn in. That way we got a loan of €100,000 at 2.0%, perfect.

Ah cool thanks for your answer, so it does work after all :-)
If I can find a bank that does not include the €100,000 KFW in the loan-to-value ratio, then I should be able to get good interest rates again....

I now also have to wait for the exact offers from the house companies. When I have the exact costs, I will have to look further. As it is, everything is already extremely much and expensive.

Nice that you like it, although sometimes we doubt that our house is then only really north-facing and we will live in darkness. Because the neighboring house is truly facing south..... our garden would then be half southwest.... but above everything faces north and east......

If we now assume paying €1500-1600 credit. All rental income from the granny flat (300 €). Then we would have to pay €1200-1300 monthly effectively and my parents transfer €100 every month, none during the baby break and later maybe €200 again, then it might already be enough money-wise. But it also depends on what exactly the banks offer us afterwards....

Hello,

You can apply separately for the KFW loan for each residential unit, that is the only reason we had a granny flat drawn up. This way we got a loan of €100,000 at 2.0%, perfect.

This has been bothering me and I specifically called our financier. How are these two "subsidized" loans composed? Or is it more like you did modernization – there are different funding programs – and in this process you used two different programs?

Kind regards

@Bauexperte

So we are building a KFW 70 single-family house with a granny flat. Our builder came up with the idea that we can apply for this loan for each residential unit. This way we got the 50,000 € for the house at 2.0 %, and I have to correct myself, since we applied for the granny flat later, we got this KFW loan of 50,000 € at 2.45 %, because at that time KFW unfortunately raised the interest rate again. But all in all, we thus got 100,000 € at a great interest rate.

@DerDa

Just to avoid misunderstandings, we didn’t just have the granny flat drawn in the plan, we are actually going to build it. We are aware that an inspection can take place. However, our builder said that the granny flat doesn’t have to be completely finished, but it is enough if the connections for kitchen, bathroom, and toilet are present. But since, as mentioned, we are finishing it, it is not an issue for us.

Financing
In addition to the existing plot of land and the Herbst family's equity (20,000 euros), all applicable funding programs of the KfW are combined to finance the project.

The basis for determining the total costs in the KfW homeownership program is the value of the plot of land amounting to 100,000 euros plus the estimated construction costs amounting to 200,000 euros minus the proportional construction costs amounting to 70,000 euros for the basement apartment, which is not eligible for funding in the KfW homeownership program.

Due to the building's special energy-saving construction method (KfW Efficiency House 70), the program "Energy-efficient Construction (Program 153)" can be used to finance the construction costs of both apartments.

The financing of the remaining amount is provided by an additional bank loan.

Hello,

so we are building a KFW 70 single-family house with a granny flat. Our builder gave us the idea that we could apply for this loan for each residential unit. So we got the 50,000 € for the house at 2.0 % and I have to correct myself, since we applied for the granny flat later, we got this KFW loan 50,000 € at 2.45 %, because the KFW unfortunately raised the interest rate again at that time. But all in all, we thus received 100,000 € at a great interest rate.

Thank you for the information - that is probably new and was not known to me.

Best regards