Your opinion on our financing concept

I would choose the repayment interest rate to be variable.... with you, first a high one, possibly adjusting (lower) if an income is lost

Fixed interest rate on the bank loan is definitely 20 years. That is also very important to us.

Regarding the question about the low equity capital: We have only had this "good" income for about 2 years. And we bought whatever we felt like at the time :-) Actually, we wanted to buy/build in 2-3 years, but a very good opportunity arose for us (joint construction project with family on two neighboring plots).

By the way, the repayment rate is just under 2%...

Hello,

OK, I can understand that about the equity capital. 20 years is very reasonable! Have you also inquired with brokers?

Basically, you should analyze your costs. Does that also include provision & co? I also suspect that in the 5,000 there is once a private health insurance contribution. 1-2 children are a lot of fun but also cost a lot of money. Childcare, clothes, private health insurance

320,000 € for the land + ancillary construction costs + house? Is that already fixed? Do you have a fixed price? Are notary fees etc. already included in the ancillary construction costs? Very interesting that a bank is involved, because you are borrowing 340,000 € for a property price of 320,000 € – meaning your 10,000 € equity is not relevant – you already have a >100% financing anyway?

Hello,
Have you also inquired with intermediaries?

Basically, you should analyze your costs. Does that also include provisions & co? I also suspect that the one-time PKV contribution is included in the 5,000. 1-2 children are a lot of fun but also cost a lot of money. Care, clothes, PKV

No intermediary, no other bank etc. comes close to the interest rate we are getting now with such a high loan-to-value ratio. We are also buying the land from the same bank, so that might be the reason.

Provisions are not included yet, we have not dealt with that so far. I am consciously insured by the statutory health insurance (GKV), because the price development of the private health insurance (PKV), especially if children come, is far too uncertain/unpredictable for me.

320,000 € for land + ancillary building costs + house? Is that fixed already? Do you have a fixed price? Are notary fees etc. already included in the ancillary building costs? Very interesting that a bank is cooperating, because you are taking out 340,000 € on a 320,000 € property price - so your 10,000 € equity is not relevant - you already have a >100% financing anyway?

320,000 EUR are the estimated total costs including ancillary costs. We have a very detailed breakdown of our monthly costs and the estimated operating costs of the single-family house as well as the (of course approximate) building costs of the house from our architect. That is where the numbers from Post #1 come from. Maybe I should also mention that the architect is from the family and grants us a discount. Otherwise, a lot can be saved because we are building two houses in parallel (better prices when buying, better negotiating position with craftsmen, one construction crane instead of two, and so on…).

320 TEUR are the estimated total costs including incidental expenses.

How much of that is for the land?

We have similar conditions (150 sqm, KfW70), but just manage with €350,000 (so far without outdoor facilities and garage/carport). Don’t underestimate the €35,000 - €40,000 building ancillary costs.

By the way, our planned carport is now tucked under our house in the form of Schroppen ;)

@Jaydee: The plot costs including additional costs 67000 for 602sqm. We also want to build 150sqm Kfw70. 2 floors, shed roof, without a basement, but with a double garage. According to the architect, the price is supposed to also include high-end fittings and a geothermal heat pump. Does that sound unrealistic to you?