The dream of your own home- who has not? An own house, ideally outside in the green where you can switch off from the stressful everyday life. Home ownership promises security, Quality of life and independence. Many would like that. You plan to buy a property or build your own home or have it built by a construction company? Then you should plan your financing carefully.
All financing should be sound and well planned. As a layman, you are usually overwhelmed with financial planning. Should you let all of your equity flow into the financing or just part of it?? If the monthly burden with full financing is about the same as with rent, it is advisable to save your equity. Are there grants from the city or municipality? You should seek help from experts for this, who are familiar with finances and all the tips and tricks for financing.
The equity is not enough, this is how one falls back on external financing. When it comes to financing, you will certainly think of your house bank first. Nevertheless, you should also obtain several offers from other sources, because you have nothing to give away. In addition to the house bank, there are other financing options, for example through building societies or insurance loans or a foreign bank. Get as many offers as possible and compare them carefully.
Pay close attention to the amount of the interest and the fixed interest rate and the installments. Are they the same or do they change over the years?. Many credit institutions will have different conditions and each bank will require different security deposits. You should pay attention to all of these and compare them carefully, to find the cheapest offer for you.
Also ask for your own contribution, With this you can save several thousands of euros or use your equity in other things in house construction. Painting work, Lay tiles, Wallpapering or laying laminate can be done well as a personal contribution.