Risk house financing or not?

Hello,

... my wife and I also earn about 4300 net per month and we also have no equity and I was at the bank yesterday so I can tell you that. my bank also does not pay incidental costs but only the house value.

As a rule, I usually keep out of financing inquiries; as Der Da already correctly pointed out, every financing is individual and my job is hard enough if I want to do it right.

Only, you shouldn’t draw conclusions about the rest of the providers from one bank conversation! Find yourself an independent from banks financing broker – so not the flirt partner of Heute-Lady and also no financing calculator from the internet! – and discuss your personal situation with him; takes a good 2-3 hours. Afterwards you will be much wiser and know the advantages and disadvantages of each financing model! By the way, I don’t know of any financing for any of our clients where the building incidental costs were left out; after all, they make up a not insignificant item of the financing.

Hello,

Or do you live in Switzerland? The cost of living there is somewhat different....

“Somewhat” is good ... I still remember well how dumbfounded I looked when I bought 6 rolls at the bakery in the morning and was told the total bill.

Kind regards

Me too last summer... 2 iced coffees and a Rivella. 29 francs... I thought claro 29 francs *2/3 = 20 € Pustefix the lady wanted 30 € from me

Hello, first of all, thank you for the answers.

So at the moment we still live in Switzerland. However, we planned to move to the German/Swiss border when we build. Then my husband could continue working in Switzerland. The salary would remain the same. Or rather, it will probably increase in the next few years because he is furthering his education.

So our consideration for the individual costs was:

approx. €270,000 house, approx. €70,000 land, €30,000 ancillary building costs, €15,000 kitchen, €15,000 exterior facilities

I do think that is realistic.

We just spontaneously asked Interhyp what we could afford with the salary. Interhyp also said that we could finance €400,000. 29 years term, 3.6%, 15 years interest rate lock. The rate would be about €1,750 per month...

Don't know if that would be a good offer. We are not yet sure.

Hello, first of all thank you for the answers.

So at the moment we still live in Switzerland. However, we planned that if we build, we want to move to the German/Swiss border. Then my husband could continue to work in Switzerland. The salary would remain the same. Or rather, it will probably increase over the next few years because he is furthering his education.

Sure? There are plenty of Swiss companies that pay cross-border commuters up to 1/3 less salary. The companies in Switzerland have an internal problem regarding fairness otherwise. This whole thing can also backfire quickly with the euro hysteria. The offer from your provider is a typical run-of-the-mill offer. They told us we could easily manage 350,000. If we had done that, we would now be pretty screwed... We were extremely inexperienced and naive at the beginning, fortunately with the necessary distrust, and tested 3-4 other providers. And there it looked completely different. We simply didn't think about what would happen if we had one or even two children.

Hello,
I think as a sole earner and with leasing contracts on top of that and no equity, it will be difficult, if not even risky.

Assuming you now finance this amount of €400,000, but in the end do not manage with that amount because, for example, the earthworks become more expensive or something similar ... and then you have no reserves ... hmm ... that would be too risky for me.

Is the salary of €4,000 net secured? So do you actually still earn this €4,000 in 8 years? Or at least approximately. You can always earn less or more sometimes, but you should be sure to be able to cover the amount even if the work situation changes. The bank will also look at the sector you work in ...

In our financing, it is such that it covers the house costs and also the ancillary costs, such as notary, connection fees, etc., but we also had equity which had to be "used up" first. You probably wouldn’t be allowed to buy a kitchen with the loan ...

Best regards, Britta

Apart from what you get from a bank and however high the net amount is, you have financing of well over 100%. Whether the bank finances all the additional costs does not matter. If you had to sell the house quickly, you would probably never get the price you paid, the tax & notary fees are all gone. So you have nothing but debt. That would give me cause for thought.

What if you no longer feel like commuting to work in Switzerland? How high is the German salary? How high will the travel costs be? €600 if your child is in [KiGa], and you don't have to pay anything for that?

Ultimately, you have to decide what kind of risk you want to take...