Your assessment of financing projects is requested!

  • Erstellt am 2015-10-19 18:47:37

mirone

2015-10-19 18:47:37
  • #1
Good day everyone,
we would be very grateful for an assessment of the following financing project:
- Woman: Dipl.-Päd. (34 years old), currently not employed (parental leave), man: engineer (29 years old) at IGM company in BaWü, married, two children (2.5 years and 4 months), net salary €3380, with child benefits approx. €3750. Man currently sole earner, salary however trending upward (contractually agreed that in no later than three years > €4000 salary)
- Purchase price for terraced mid-terrace house in Rems-Murr district (20 km from Stuttgart) after negotiation at €329,000
- with incidental acquisition costs €368,808 (including broker)
- Equity capital: €50,000
- Loan: €318,808
- divided into:
€50,000 Kfw housing with children, interest 1.65%, repayment 2.7% over 10 years
€50,000 LBS-Riester with bridge financing, interest 1.8%, saving rate €138 (woman)
€50,000 LBS-Riester with bridge financing, interest 1.8%, saving rate €138 (man)
€167,808 annuity loan, interest 2.14%, repayment 2% over 20 years
(all at BW-Bank, part of the Savings Banks Association)
monthly rate: €1188
Until now, we have lived with heating costs of €700, so this is a big change for us!
We expect approx. €550 additional costs (oil, hot water, water, electricity, insurances (building, household, oil tank HPF), reserves €150, etc.) for the house (built in 1982, 200 sqm, garage + parking space, good, well-maintained condition according to self-commissioned expert, solid construction, oil heating (underfloor), windows/roof/sanitary facilities very well maintained but original condition)
According to the expert, roof windows will need to be replaced in 5 to 8 years (approx. €5000), other windows in 15 years (approx. €12,000), roof not before 20 years (approx. €16,000).
There is a granny flat on the lower floor, currently rented for €250 (tenant is a commuter due to his profession, intends to terminate according to his own statements probably mid next year)
Does all this make sense?
Thank you for your suggestions!
 

ypg

2015-10-20 18:19:01
  • #2
Hello, I will summarize the facts again and upload the post for others (when it comes to financing, especially Riester, I prefer to stay out of it, there are more capable fellows here :)) Mid-terrace house in the Rems-Murr district, built in 1982, living area 200sqm, solid construction, oil heating, underfloor heating, with a rented granny flat (250 warm rent) for €330,000
 

merlin83

2015-10-20 20:12:46
  • #3
Have a similar case - somewhat worse off - looked after to some extent. My gut feeling says it’s okay. Especially since you can rent out the apartment if necessary and you can work part-time.

Where do you live now? More kilometers to work also means higher car costs. Keep traffic conditions in mind!

Regarding financing, I would include Sparda. They currently have competitive prices again.
 

mirone

2015-10-21 09:56:03
  • #4
Thank you very much for your initial assessment. Is there room for optimization in assembling the financing? Or is it fine as it is?
 

backbone23

2015-10-26 19:03:01
  • #5
Because of the Riester issue, read through this and the previous posts:
 

Schemelino

2015-10-26 19:15:11
  • #6
Check out the L-Bank, Z15 loans. We have just finalized it.
 

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