Property purchase loan for €30,000

  • Erstellt am 2011-05-12 20:23:51

ronnystritzke

2011-05-12 20:23:51
  • #1
We want to first acquire a plot of land. For this, we would need a loan of €30,000.

Which bank offers something like this, or which would be recommended? In 2 to 3 years we then want to build a house, so we would need another loan at that time.

No equity is available, except for a building savings contract from each of us, currently containing €1,000, but the lock-in period does not end until 2013.

I hope you can help us.

Best regards

Ronny Stritzke
 

TomTom1

2011-05-16 11:09:28
  • #2
Hi!

What is the point of all this? People don’t buy winter tires now and the suitable car years later.

Besides unnecessary burdens (financing costs, property taxes), you are more or less already tied to a lender.

And what if interest rates have risen sharply in 2 or 3 years...?

Apart from that: Building a house without equity works in very few cases.

Regards,
Tom.
 

perlenmann

2011-05-16 12:13:51
  • #3
It is not necessarily sensible; it is better to save equity first in order to save interest. But there are supposed to be properties that are gone if you don't buy them yourself.
 

ronnystritzke

2011-05-16 12:17:02
  • #4
correct and here in the area there are hardly any reasonable plots at good prices left. that is the real ulterior motive

regards Ronny
 

Solam

2011-05-17 17:10:06
  • #5
The best thing is to go around and simply get non-binding offers...
 

ollyeden

2011-05-27 10:04:51
  • #6
Buying a plot of land makes sense, especially when the location and price are right and it forms the basis for the future center of life.
It would be more solid to finance the house later if, for example, the plot could be brought in as equity. The question is whether the then fully financed plot can be paid off before taking out the construction loan.
Otherwise, the house construction will likely also be a full financing, and reputable banks, understandably, quickly reject this.
Therefore, I advise building equity before it gets serious.
As mentioned, this can also be the plot that has then been paid off.
For tax reasons, I recommend separating the plot purchase from the house construction, meaning not acquiring both from the same company.
This way, the real estate transfer tax is only charged for the plot purchase and not additionally for the house construction (tying contract = real estate transfer tax on both).
The possible new kitchen would already be financed this way...
 

Similar topics
28.03.2011Can we afford to build a house without equity?14
26.08.2012Small single-family house, little equity but good income, is it at all feasible?11
16.01.2014Problems with bank - equity10
11.07.2015480,000 loan too high, experiences?36
21.02.2015Impacts on loan when equity is in property17
18.03.2015Buying property feasible - Loan with building savings as equity?12
22.06.2015Land price = complete equity. Finance yes/no?13
26.07.2016Calculation of equity capital in connection with KfW loan28
06.04.2017Building a house without equity?55
29.08.2019Construction financing - mortgage instead of equity?58
24.01.2020When to use equity?41
29.05.2021Enough equity? Will we even get a loan?30
10.11.20202 (dream) properties - financing unclear. Save equity?40
31.12.2020Land purchase with varied financing - is it sensible to hold back equity?10
12.09.2021Purchase financing: how much equity (with the low interest rates)?27
26.03.2022Feasibility of house financing 4.6k€ net 140k€ equity36
18.12.2024Construction financing without equity as an option?162
10.05.2022Buy a house with equity and loan, renovate through property sale24
11.06.2022Use of Credit vs. Equity41
10.07.2025Inherited equity, what to do, experiences?54

Oben