There are not many people who completely renovate a property in the six-figure range a year ago and then offer it at a low price.
Maybe the property was worth T€ 300 before the renovation. If T€ 100 were then invested, you are being properly taken for a ride. And no, even today no one is giving anything away, unless it is a genuine distress sale (one in a thousand).
As already mentioned, the electricity costs would be completely eliminated, so these do not apply to the additional costs.
How large is the storage of the photovoltaic system? I also produce 10,000 kWh of electricity per year. I consume slightly over 10,000 kWh of electricity. Still, I buy almost 8,000 kWh of electricity. Total electricity consumption including e-car (in case someone stumbles over the fact that I mentioned a completely different electricity consumption in the other thread – that was only for regular household electricity.)
On Monday I have an appointment at the house bank, the , and afterwards at . I’m curious what will come out of it. The interest rate varies between 3.7% and 4.2%, depending on the repayment rate.
What is the planned repayment rate in each case? I think we would set it at 3% – if we would even make an offer at all. With a purchase price of T€ 450, the lending value is T€ 400. You need T€ 500, so that is a 125% loan-to-value ratio. I estimate the rate at around €3,000, assuming the bank calculates reasonably and processes the very high risk accordingly.
I also considered financing the €50,000 additional costs separately and then using them as equity, as the interest rates might be lower.
Do you really mean that seriously? T€ 50 as a consumer loan with 6% interest and 72 (maybe even 96) months term. That would be almost €1,000 installment per month. Every household budget calculation at a bank will ruin you. That would be a real deal-breaker for us if you had such a consumer loan in addition to the construction financing.
Further small financings will be paid off during the year, the total amount amounts to a maximum of €5,000.
Another major negative point – wanting full financing but having additional debts.
It is heated with a gas boiler from 2020, and it has efficiency class A.
I would be interested to know how efficiency class A was achieved. An unrenovated house from 1997 is energetically identical to a new building in efficiency class KfW 55? How does that work? So, outside of a faked certificate (e.g. taking the total area of the house including unheated basement/attic and distributing the energy consumption over this area).
The kitchen as well as a garden house and much more are included in the purchase.
A bank must deduct these things from the purchase price to determine the value of the house. When done properly – but normally with such a small financing this does not matter because the lending value is determined automatically and no appraiser is involved.
