New construction or existing property financing plan realistic?

I am not a banker, but I have always heard from my 5 years of forum experience that banks typically dismiss liabilities in the form of debts. I remember that a TE/User wrote here after a bank meeting that for a serious discussion about a construction loan, he should only come back once the debts are repaid. However, it was not 100,000, but around 10,000, which was taken out because of a car.

Actually, I am only writing this because I want to say: I believe that works with the exorbitant consumer loans from the bank's side, but not otherwise. Even inheritance does not help with that. Although the inheritance amount is a very good starting point, it is nothing more than that. The bank can very well recognize that you manage your finances relatively poorly.

Even if I don’t want to be a moral preacher again, somehow building and disciplined repayment of loans are rather contradictory to acquiring consumer goods with other people’s money.

But you have a good income. Who knows how banks think nowadays :)

Even if I don't want to be the moral preacher again, somehow building and disciplined repayment of loans is rather contrary to acquiring consumption through other people's money.

Why are you playing moral preacher here?
You don't know any background.
Even if the money was spent on a car or something else, what difference does that make?

Maybe he never considered building and preferred to spend his money.

Just because you didn't save in the past doesn't mean you will continue that lifestyle in the future.
It certainly requires some discipline, but it is not impossible.

Why are you playing the moralizer here? You don't know any of the background. Even if the money was spent on a car, or something else, what does that matter? Maybe he never considered building it and preferred to spend his money. Just because someone didn't save in the past doesn't mean they will continue that lifestyle in the future. It certainly requires some discipline, but it's not impossible.

Look, I have absolutely no problem with how someone spends _their own money_. But here we're talking about €100,000 in debt, money that the OP didn't have, which was simply consumed. That is a difference. And in a forum, this point should be mentioned.

It is pointless to argue when the child has already fallen into the well. But in general, I agree with ypg. There are said to be people who do not get construction financing despite a high income. Proper budgeting (household book) is necessary even with a high income.

So loans, get rid of them. They cost interest and the credit balance (equity) brings nothing. Schufa improves. Construction financing is usually cheaper than consumer loans.

The previous repayment and bonus on a savings account (short-term fixed deposit). That should then be €2,500 monthly savings and €10k bonus (a total of €40k per year). Many would be glad if it were just net income.

After repayment, €50k of equity remains.
Carry this out for at least 12 months. Then the expenses side will also stabilize. With €100k equity, €500k should also be financeable.

It is pointless to argue about it when the damage is already done. But in general, I agree with ypg. There are reportedly people who cannot get construction financing despite a high income. Proper budgeting (household accounting) is necessary even with a high income.

So loans, get rid of them. They cost interest and the balance (equity) brings nothing. Schufa improves. Construction financing is usually cheaper than consumer loans.

The previous repayment and bonus into a savings account (short-term fixed deposit). That should then be €2,500 monthly savings and €10k bonus (a total of €40k per year). Many would be happy if this were net.

After repayment, €50K of equity remains.
Carry this out for at least 12 months. Then the expenditure side will also stabilize. With €100k equity, €500k should also be financeable.

Thank you, that's exactly the plan now!

The current rent is 1,510 EUR (incl. 300 EUR additional costs).

The mentioned existing liabilities amounting to 100,000 EUR are divided into three consumer loans, which burden us monthly with 2,100 EUR interest and repayment and will be paid off in 2021/22/23. The redemption amounts of these are available and all can be redeemed immediately without or with negligible prepayment penalties.

You have 100k debt, but 150k equity and can redeem the 3 loans (100k) more or less cost-free at any time.

Is there a reason to hesitate for a moment and not redeem this loan immediately? Provided prepayment penalty < interest until payoff

After that, you are debt-free and can finance a house with 3,610 EUR (rent + consumer loan installments) per month...

According to my information, the maximum parental allowance is 1,800 EUR by the way and not 1,980 EUR.