Money in home financing

You can probably have it paid out as a lump sum without using funds. You want to finally repay anyway. Without 100% payout, you always only pay interest, not annuity.

Just say the garden will be done with your own labor. I wouldn't mention the kitchen.

you can probably have it paid out as a lump sum without using funds. after all, you want to finally repay. without 100% payout, you always only pay interest, not amortization.

That may be, but it doesn't have to be. We had a fixed repayment start date in the contract. At that time, only the shell was completed and we had only drawn the first installments so far.

In the end, we also had more left over than planned.
However, that was rather due to the additional equity that came in up to that point and not due to lower construction costs. We still had the remaining amount paid out to us and used it immediately to make the first special repayment and right after the turn of the year, the second special repayment.

Some banks charge a small fee for not needing everything. Unless it is stipulated in the contract that 5-10% can remain. I would also quickly withdraw the last money or clarify with the bank that you no longer need it so that you can start with the repayment.

depending on whether they want an invoice for everything or not. if they don't want invoices for everything, you can do whatever you want with the money. if they want an invoice for everything, you'd have to ask. in the end, the 5000 euros are gone anyway, simply because a "few" things come up at the very end that you never thought could be so expensive :) a few lamps here, a mirror in the bathroom there, a shower door, and suddenly 2000-3000 are gone...

With us there had to be a "remainder" because after committing to the house construction installments, the paving, carport, outdoor area, and garden were still pending. It was paid out without any grumbling. How we divided it was then our problem.

Heretical question: Why not use the "excess" money, i.e. cancel the rest? Garden and co. should have already been included differently in the financing beforehand.