Obstlerbaum
2018-08-13 10:41:27
- #1
Hello everyone,
we (couple "around 40" + 5-year-old son) have bought a plot of land (Stuttgart area) and were fortunate enough to be able to pay for everything already with equity, including real estate transfer tax, water/sewage/gas charges, and notary fees. A construction contract with a house builder is signed, the fixed price offer is 510k EUR excl. outdoor facilities and incidental costs. The equipment/sampling is largely done, only the additional costs for larger tiles (standard are max. 60x30) on the ground floor (hallway, kitchen, and shower toilet with about 40sqm) and upstairs bathroom (~30sqm) are still missing. For this, we have budgeted about 100 EUR/sqm. Due to the hillside location, hardly any soil removal is expected.
For financing, I would intuitively take out an annuity loan; combinations of 2-4 products with graduations/replacements/mixes are suspicious to me. Net-wise we are okay, no more children are coming. I don’t want to overdo it with monthly installments and want to work with special repayments. Quarterly bonuses of 10k-15k net are available. Besides that, it is currently unclear to me whether I should go through a broker or directly to the bank. What are the advantages/disadvantages? From when does an inquiry affect the Schufa history?
Planning in brief
Currently available equity: 70k EUR
House costs (fixed price offer): 510k EUR
Additional costs (tiles, installation): 15k EUR
Outdoor facilities (yard, terrace, slope): 25k EUR
Incidental construction costs: 30k EUR
Loan amount: ~510k EUR
Term with fixed interest rate: 15 years
Special repayment up to 10%
Monthly installment: 2000 EUR
Monthly net income (both): 6500 EUR
Rental income (net): 500 EUR
I would appreciate opinions and advice, for example what other costs might come? What have we forgotten? You always overlook something, especially in such a large project certainly quite a bit...
we (couple "around 40" + 5-year-old son) have bought a plot of land (Stuttgart area) and were fortunate enough to be able to pay for everything already with equity, including real estate transfer tax, water/sewage/gas charges, and notary fees. A construction contract with a house builder is signed, the fixed price offer is 510k EUR excl. outdoor facilities and incidental costs. The equipment/sampling is largely done, only the additional costs for larger tiles (standard are max. 60x30) on the ground floor (hallway, kitchen, and shower toilet with about 40sqm) and upstairs bathroom (~30sqm) are still missing. For this, we have budgeted about 100 EUR/sqm. Due to the hillside location, hardly any soil removal is expected.
For financing, I would intuitively take out an annuity loan; combinations of 2-4 products with graduations/replacements/mixes are suspicious to me. Net-wise we are okay, no more children are coming. I don’t want to overdo it with monthly installments and want to work with special repayments. Quarterly bonuses of 10k-15k net are available. Besides that, it is currently unclear to me whether I should go through a broker or directly to the bank. What are the advantages/disadvantages? From when does an inquiry affect the Schufa history?
Planning in brief
Currently available equity: 70k EUR
House costs (fixed price offer): 510k EUR
Additional costs (tiles, installation): 15k EUR
Outdoor facilities (yard, terrace, slope): 25k EUR
Incidental construction costs: 30k EUR
Loan amount: ~510k EUR
Term with fixed interest rate: 15 years
Special repayment up to 10%
Monthly installment: 2000 EUR
Monthly net income (both): 6500 EUR
Rental income (net): 500 EUR
I would appreciate opinions and advice, for example what other costs might come? What have we forgotten? You always overlook something, especially in such a large project certainly quite a bit...