Repay savings or save? + Secure interest rate

If you have the money for higher installments, an annuity loan is definitely more worthwhile, as you save interest and have security through a lower installment plus special repayment. By the way, I have already experienced that despite paying the calculated installment, a building savings contract was not ready for allocation. And if you ever go below the required amount, it can become extremely expensive if you then have to bridge more than a year. If you also consider the commission, in the end a building savings contract can be both more expensive and less secure than a longer fixed interest period directly.

What I still remember is that the Bauspar contract has a high minimum repayment when paying off, so after allocation the term should not be that long, which supports your argument.

We have not concluded a building savings contract yet. This model was recommended to us independently in addition to our financing, in case the interest rate would rise enormously. A 20-year fixed interest period would definitely be sufficient.

A longer fixed interest period than ten years is not possible with KFW and it simply is not worthwhile with the bank. We can make special repayments free of charge both with the bank and with Kfw.

Who would have thought 10 years ago that mortgage interest rates would settle at this level? Who knows where interest rates will be in 10 years? I find these blanket recommendations really annoying! Anyone who wants security has to accept interest premiums or higher costs with the [Bausparvertrag] model. Those who are a bit risk-tolerant enter into a fixed interest period of 10 years (or less) and hope for special repayments. Because if interest rates rise enormously, that person will make a fortune. Or if interest rates remain moderate, then it was the right decision! It's up to everyone themselves!!!

We haven't even signed a building savings contract yet. This model was recommended to us independently in addition to our financing in case the interest rate were to rise enormously. A 20-year fixed interest period would definitely be sufficient.

A fixed interest period longer than ten years is not possible with the kfw and at the bank it simply is not worthwhile. We can make special repayments free of charge both at the bank and at the kfw.

We also have KFW with 10 years, however the 50,000 € after 10 years is a manageable residual amount.

You can’t generalize about financing; you have to consider the individual circumstances/assumptions of the borrower. If the borrower thinks they can regularly make larger special repayments or assumes that interest rates will not rise or expects a large inheritance/gift, then a 10-year loan definitely makes sense. You seem to have somehow calculated for yourselves that the 10-year loan makes more sense than a 15 or 20-year loan. You made the assumptions for this calculation (special repayment, follow-up interest rate) and hopefully calculated over the entire term. What surprises me, however, is that on the one hand you say that a 20-year loan is not worthwhile, but then you consider the building savings contract for that (which is probably more expensive for you than the 20-year loan). That somehow contradicts itself.
I don’t want to advise you toward a particular term or type of loan; I just want to make sure you don’t forget the calculations just because the banker thinks he has to sell you a building savings contract.

A 20-year loan is really not worthwhile for us purely financially, unless the interest rate is utopianly high in ten years.

We were told we wouldn’t make a loss with the building savings contract. Because of the children, etc., we received premiums and thus would have no additional costs. Incidentally, we would secure the interest rate. :-/