Realistic or daydream? (Buying property without equity)

Every 2-3 weeks always the same question, no equity because of studies - wedding or round-the-world trip, but wanting a huge pile of money.. I expect a certain amount of reason from adult educated people.

Why isn’t an apartment enough?

I remember a case on Peter Zwegert "or whatever his name is" where a couple had to go bankrupt despite 5000 euros net...
2 cell phones, cars on credit, a huge house, insurances, etc...

That's how it is... I don't even want to respond anymore

Building/buying without equity is ALWAYS a bad idea!!!

First interim conclusion: House bank (Volksbank) completely rejects it. They don't want any facts or figures, "we don't do full financing". Started an inquiry with Interhyp, consultation appointment soon.

Nice to read that there are still banks with reason

You can say goodbye to a great interest rate with financing. Also consider DSL and Hanseatic for the additional costs.

Actually, I am usually responsible for the negative stuff, but since your wife earns more than you, I’m making an exception!

That can work. Submit the confirmation that your wife works full-time and the employer verifies it right at the financing request.

You are young enough to repay the amount until pension/retirement ... thanks to the ridiculous residential real estate loan directive!

Interest rate fixed for only 10 years – your rating will improve (without divorce).

Make an appointment at Interhyp or (better) BaufiTeam.

But that rather reflects the general behavior of Volksbank. They really have some very strange ideas about how financing should work.

Without knowing what kind of house is supposed to go on the plot, they want to put together a complete package, without it it doesn't work. From personal experience, I consider this institution to be very inflexible.

I can confirm that. After they fully financed my condominium plus additional costs (2012, a manageable amount), they fussed endlessly over the land purchase. They wanted 1000 documents and an on-site appointment and so on... and for weeks they were not able to name an interest rate or make an offer.

I also wouldn’t go to a savings bank, they have similar ideas.

That was so uncomplicated and after half an hour we already had the first numbers with which we could see in which direction it was going. We have had that experience with several savings banks that we compared.

Totally agree with you Chris