Problems finding an appropriate financing budget limit

I have a similar income to yours. My "Hausbank" politely showed me the door at the first inquiry. They laughed themselves silly. I have had good experiences with Axa. They are a bit more generous in calculating self-consumption. For example, I was able to include my actual average living expenses in the calculation there. That was not possible with the traditional Hausbank. They took a flat rate that was almost 400/month too high for my living conditions. Online banks are also quite generous in recognizing loans.

I won't go into the content in detail, but you've been bothering me more often lately with blanket statements (e.g. "Photovoltaics are not worthwhile"). I find that completely misplaced and it unnecessarily unsettles many readers and casts reputable partners of Town & Country in a bad light. It would be beneficial for everyone if you presented your statements as your own, undifferentiated opinion...

Of course, this is my own opinion – what else? Everyone here in the forum has their own opinion. It is the task of the original poster to form their own opinion – and yes, there are acquaintances who have had very bad experiences. Certainly, there are also those who have had good ones. What is important with Town & Country, and the original poster must know this, is that they are franchise partners themselves. Therefore: Check carefully beforehand to whom you entrust your money. And on the subject of photovoltaics, everyone must also form their own opinion. There is no single opinion, or is yours the only correct one?

It was not about recognition for me at all, but about the pragmatic way Karsten approaches avoiding costs. [...] And I don't know anyone here who can put it better

I also like reading that again and again, but the "self-recognition effect" significantly influences how much someone adopts from statements. A "role model, but not for me, because I am completely different" has a correspondingly weaker effect. The first-time building client in their thirties does not transfer this role model onto themselves because they find the life plan behind it "not suitable for themselves" – and thus also not some conclusions. Many building clients are probably also afraid that if all their buddies rave about heat pumps and trench collectors, they will be looked at with Karsten's gas boiler like the man in the moon or at least as if their phone still had a rotary dial ;-)

Woop Woop, anyone who vacations on Fehmarn is already instantly likeable to me! I also like to hang out in Burg and stand on one of the few remaining cutters at half past five in the morning, nothing better ;-) Well, a bit off-topic so far.

Regarding your concern: I am currently in a "similar" situation as you. Wife, one child, a few hundred thousand euros in loans yes/no - that can keep you awake at night.

Anyway, we are also buying a plot of land 150€ below the standardized land value, so I want to address your question whether banks consider the difference as equity. That has occupied me and the answer is yes and no...

My ultra-conservative house bank (the red faction) for example does not consider it equity. They calculate based on a financing ratio, i.e. capital demand from construction costs and assign you the corresponding interest rate according to the current terms sheet. If you’ve already dug a bit through the forum here, you have probably come across the term construction costs. Basically, first the plot at purchase price (including outdoor facilities, garage, carport, ... and the house (or everything that does not fall off if you turn the house upside down --> furniture and kitchen, for example, are not counted). But the bank still of course sees the difference at the latest during collateralization. So either way a great thing with positive effects if you win the bid! Then there’s usually no additional land registry entry at the parents or something like that needed so quickly.

I also once went to one of the big brokers about the topic. We acted as if the plot was equity at the standardized land value and I was also confirmed that some banks also apply this in their calculation of the loan-to-value ratio and not just during collateralization. These seemed often to be the "big" financiers who still throw liquidity around and rather less the local house banks.

Seen that way, both are possible.

At least currently you wouldn’t have any trouble finding someone to give you the money. Whether you feel comfortable with that is another question.

For me right now it is truly an emotional rollercoaster. Today euphoric and hot as hot oil, that it’s finally starting, and tomorrow again full of doubts (mostly completely irrational) whether it will all somehow work out.

By the way, we will finance about 530-550k€ on 5,000€ income. Sure, income will rise too, that’s why you bend over every day, and all that without profit sharing and holiday/Christmas bonuses and other special payments, but with half a million you do get a little dizzy for a moment...

Cheers!

Of course, this is my own opinion - what else?

What else? Hmm, let me think...

just stay away from Town & Country. Franchise system - not trustworthy

...actually, one could foolishly misunderstand this as Faktum, at least you leave no room for interpretation with this statement.

To avoid unsettling the silent readers, you could have written something like:

"In my opinion, you should thoroughly check Town & Country, since it is a franchise system you can encounter good or less good entrepreneurs, unfortunately this is not uniform and therefore difficult for laypeople. Because of bad experiences in my environment, I have at least lost trust in Town & Country."

Nothing else is what I wished for.

Therefore, I also do not understand:

There is no uniform opinion, or is yours the only right one?

this question. I didn’t even express my opinion but only asked for more differentiation instead of generalization.

What else? Hm, let me think...



...but yes, foolishly one could also misunderstand that as a fact, at least you don’t leave any room for interpretation with this statement.

To avoid unsettling the silent readers you could also have written something like:

"In my opinion, you should thoroughly check Town & Country, since it is a franchise system you can get good or less good entrepreneurs, unfortunately it is not uniform and therefore difficult for laymen. Due to bad experiences in my environment, I have at least lost trust in Town & Country."

That’s all I would have wished for.

Therefore I also don’t understand:



this question. I haven’t even expressed my opinion but only asked for more differentiation instead of generalization.

Please excuse me for evidently not meeting your scientifically based, fact-oriented, objective approach. I guess I am not quite the perfect person you depict here. Feel free to write me a private message if you have any problem. Thanks (OT ended)