Should we finance our house 100%?

  • Erstellt am 2009-11-25 13:09:07

pahauck

2009-11-25 13:09:07
  • #1
Hello dear forum members,

the following concern:

We would like to build a house and have it 100% financed.

Together we have a net income of 3700.- Euro.

The house costs a total of 304,000,- € including notary, land transfer tax, etc.

The installment would amount to 1,399,- € with an initial repayment of 1 %.

The interest rate would be effectively 4.44 %.

What do you think of this idea? Too risky or still within the realm of feasibility?

Thanks and regards
Patrick
 

pahauck

2009-11-27 16:08:20
  • #2
No advice from anyone? :(
 

6Richtige

2009-11-27 16:19:26
  • #3
Hello pahauck,
if there is no equity with €3700 net, stay away from building.
Save up first (approx. €60,000), then build.
 

relex

2009-11-27 16:23:07
  • #4
Hello,

have you already been to a financing specialist?

Your description is far too brief to answer your question.

For example: standard of living, age, sole earner or do both work, possibly desire to have children, how long do I want to pay off this house, etc.

I believe that no one here can give a proper answer.

Tip: choose a financing specialist you trust and go through everything with them!

Regards relex
 

pahauck

2009-11-27 18:09:10
  • #5
We are 32 and 34 years old, both work full-time and children are not an option (Please do not elaborate on this).
We have envisioned a repayment period of about 25 years.
Plan for additional repayments of 3000-4000 euros per year.
 

ReihenhausMax

2009-12-09 14:19:20
  • #6
If you cannot afford more than 1% regular repayment, stay away from a 100% financing.
 

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