Variable loan possible / sensible?

...Is being sold.

What does the bank have to do with it then? You sell to another who earns more and hopefully then pays more for the property. And you can repay your variable loan.

As far as salaries are concerned, I know some who own ET and earn far less than we do. In my opinion, it’s much more about how you handle your finances and what you are willing to do for the goal of owning a home / house.

I'm not talking about selling now! Why should we buy the property now only to sell it later?! That is simply not the goal. (logical)

Buying to then sell again is definitely not the intention behind it.

I am talking about the option when we are at the point of refinancing the variable loan with the long-term loan. But since this should happen in the foreseeable future, I am asking whether it would even be possible with the high remaining debt / whether banks will be willing to do it.

Buying to then sell again is definitely not the intention behind it.

That is clear to me, my question is: do the banks then take the current price 162,000K or the land price at the time of the construction project as the land value?

I haven’t read all the posts and hope I’m not giving the same answer twice or thrice :D

Buy the plot and definitely finance it with a variable rate! Absolutely do not enter a fixed interest rate! Because you won’t get out of it easily or at all and finding another bank for the second lien is probably impossible... (unfortunately speaking from experience)

Buy the plot and pay it off as well as you can. If you realize you can even manage more, then save and put it in as a special repayment. That’s exactly what we’re doing right now. Until you’re ready to start building, a lot of time will pass, and until then you will continue paying down/saving.

The paid-off portion of the plot is then counted as equity, as far as I know, in relation to the purchase price. At least for us the plot was not valued any differently.

And when it comes time to build and the construction costs are known, the entire project will be reviewed by the bank again, based on the current income situation.

It’s also in your hands when that should happen!

If the plot meets your wishes and has no building obligation, then buy it now. And as soon as you have started working again and you have reliable figures for the income, the construction costs are roughly fixed, then go to the bank and arrange the required loan.