Special repayment after house construction

In principle, you basically get nothing for the money at the moment; you pay interest on the loan. I would rather tend towards making a special repayment if you have extra money.

I personally might also withhold 1 year of installments just in case.

Found on Zuhause.de_

One should regularly set aside a fixed amount, agrees Karsten Eiß from the Bausparkasse Schwäbisch Hall. "The amount depends on the age and size of the property." Eiß refers to a recommendation from the Federal Ministry of Construction. It advises annual reserves in the following amounts:

[*]for houses up to 5 years old: 4 euros per square meter
[*]for houses up to 10 years old: 6 euros per square meter
[*]for houses up to 15 years old: 7.50 euros per square meter
[*]for houses from the 16th year of construction onwards: 10 euros per square meter

The Association of Private Builders goes even further with its recommendation of one euro per square meter per month and sees no reason to differentiate by the age of the property. "It’s not just the major heating system renovation that is paid for from this, but also the small repairs that occur in everyday life," explains Reinhold Postina. These alone add up over the course of a year, especially if you are not skilled in workmanship yourself and hire a craftsman for every small repair.

I am also planning reserves of about 250-300€ per month (equivalent to 2.00-2.40€). But for now, we are putting everything into special repayments. However, I always include the reserves virtually. Eventually, we will reduce the special repayments and instead continue to build up the reserves.

What you all have an extra [Kohle] for - I rather think that most people will hardly save anything at first after building a house.

It's not wrong, but I wouldn't let such reports on the internet drive me crazy...

So I sat down and calculated where we stand with our special repayments in 2024.
I also calculated where we would be if we made special repayments again in 2017.*
In the end, I can now say that with our already transferred repayment we pay 4000 € less in interest, with 2017 it would be 5000 €.

It's similar for us. So far, we have made 3 special repayments, so that the interest savings in the first 10 years add up to approx. €6000.
Even more interesting is the consideration over the entire term. Here, our previously paid €24,000 in special repayments save €27,500 in interest (assuming a constant interest rate over the entire term).
Especially the special repayments made in the first years naturally have a very strong impact.

What you all have in coal - I rather think that most people will hardly save anything after building a house.

That's not wrong, but I wouldn't let myself go crazy because of such reports on the net...

It's not about driving yourself crazy here, but about realistically estimating the follow-up costs.

If you want to buy a 25,000 euro one every 10 years, then, after deducting a residual value of 5,000 euros, you have to set aside 170 euros every month for it, regardless of operating costs and annual maintenance costs.