Rebuild again, despite existing real estate financing

Ok. Thanks first of all. However, I did not really understand Variante 1. Sounds very complicated. Selling the house now at a good price would of course also be a solution. However, early repayment fees would definitely be due then and we would already need a property now that is paid for, etc.

Ok. Thanks first of all. However, I didn't really understand option 1. Sounds very complicated. Selling the house now at a good price would of course also be a solution. However, in that case a prepayment penalty would definitely be due and we would already need a plot of land that is paid for, etc.

so I would first try to find a plot of land here, without a plot of land I wouldn't worry.

once a plot of land is found, it can be financed with a variable loan (through the house bank where the other loan is running), so financing based on collateral wouldn't be an issue here.

then take care of offers for house construction, incidental costs, outdoor facilities, etc. Once you have the numbers, calculate what makes more sense (i.e. whether to take over the old loan for the new house, finance the rest, and sell the house). or you would also have the option to sell the house immediately, with handover/payment in 12-15 months (construction phase). Sure, that would restrict the pool of buyers, but the "smart" people know that the house will probably cost 5% more in one year. Because with that, you have exact numbers to calculate with.

if you want to sell the house only after completion of the new construction, you would of course 1. finance a bit more as a buffer, and 2. should use the proceeds from the sale for special repayment.

So it would also be possible without prepayment penalty if you change the house...

Another idea after a brief phone call with our local bank advisor would also be to continue renting out the current house for the time being. The repayment would cover itself. Comparable houses here are rented out for 1000 euros cold. This way, the house could be sold in a few years and partially redeem the new loan. Or simply use it as a capital investment. We have scheduled a personal appointment for early October.

Another idea after a short phone call with our local bank advisor would also be to continue renting out the current house for the time being. The repayment would cover itself. Comparable houses are rented here for 1000 euros cold. This way, one could sell the house in a few years and partly pay off the new loan. Or simply use it as a capital investment. We have arranged a personal appointment at the beginning of October.

that is of course also an option. If someone wants that...

There are people who do not want to do that because they are afraid, due to tenants etc.

Personally, I would of course keep it and rent it out. So that you fully benefit from the further increase in value!

I hadn’t really thought of that idea, but it definitely sounds interesting.

Another question:

What conditions can one expect or does one even get a loan at all? Assuming you rent out the current house so that it pays for itself. Then it’s basically self-sustaining. What interest rate is available at the moment? We wouldn’t have any equity in cash at all. We would need to finance about 350,000 euros. I am a civil servant, my wife is permanently employed in the public sector, 12 hours per week. Net income together is 5000, with an upward trend. As collateral, basically only the current house would be available.

That's more than enough!