We want to build - What do you think about the possible financing?

As my predecessors have already said, I also think it would be best to pay off the maximum amount now! If you can sell the apartment well, it might work. But is the remaining loan amount of 100000 € enough to finish the house? And what exactly do you want to build? A single-family house?

Hello,

the remaining debt of €100,000 from the loan would of course not be enough to cover the loan for the house.

My favorite at the moment is a bungalow of about 100-115m², fully basemented, with about 40-50m² developed as a living basement. I think this is the most cost-effective alternative to get about 150m² of living space and a bit of usable space. Has anyone of you already realized something like this? On a flat plot? You always only read about a basement bungalow on a sloped plot.

Have you actually clarified yet how a bridge loan is supposed to work? Or are you really moving into a rental apartment? And what about the home loan? Can you just get rid of it like that, or do you have to pay a prepayment penalty?
All in all, what you are planning still seems very underdeveloped (at least based on what you write about it)!

And a bungalow with a basement is probably one of the most expensive versions to build.

Oh yes, and your car is paid off when it falls apart and you need a new one.
Pay off existing loans first before taking out a new one!

The increase in value is probably clear, although of course one never knows. On the one hand, at the time of purchasing the apartment, there was a loan and a legal case due to "shoddy workmanship" which certainly deterred potential buyers. On the other hand, there was no kitchen installed and the children's room still had carpet. Now there is a branded kitchen and parquet flooring in the children's room. And the garden (250sqm) also looks tidier now. The car will then be replaced when it no longer consumes our entire equity. That is why it was also partly financed by a loan and not fully as you wrote. We just like to have one or two reserves. We would probably build using prefabricated construction. As soon as a buyer for the apartment is found, the earliest availability of the apartment could also be agreed with them. The interim financing is the point that prompted me to ask for some of your opinions. Best regards

The increase in value is probably clear, although of course you never really know. On the one hand, at the time of purchasing the apartment, there was a loan running and a court case due to a "botched construction," which certainly deterred potential buyers. On the other hand, there was no kitchen installed and there was still carpet in the children's room. Now there is a branded kitchen installed and parquet flooring in the children's room. And the garden (250 sqm) also looks tidier now.

Without knowing the exact apartment or the situation, it is of course not possible to judge precisely... The kitchen and parquet flooring in the children's room may have a new value of about 10k, but 3-4 years old? And don’t forget the house itself has also aged 3-4 years during that time... Among many "prospective buyers," a much greater "energy awareness" has developed in recent years... In 2008, insulation etc. was not as much in focus as it is today... How your apartment looks from an energy perspective is more interesting than the kitchen or the flooring... Of course, you can hope for the 155k€, but I would calculate with less...

The car will then be paid off when it no longer eats up our entire equity. That is why it was also partly financed by a loan and not fully as you wrote. We just like to have the occasional reserve.

It probably wasn’t exactly a bargain if the loan still amounts to 18,000 and it wasn’t even fully financed... did the car salesman push a brand-new A4 on you? ;)

A reserve is indeed sensible... but 15,000? Would half not do as well? Of course, it always depends on the investment and the interest rate of the car loan...