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Here you are well informed:
Regardless of whether you want to buy a property or build a house, the associated financing probably represents the biggest investment of your life. Such a project therefore always raises questions, especially with regard to financing.
We look forward to answering your questions comprehensively. For all those who would like to inform themselves in advance, we have summarised the most important aspects of construction financing in our guide. The guide is structured according to the reasons for financing: purchase of a property, new construction, debt restructuring and follow-up financing, renovation and modernisation as well as capital investment. This gives you the opportunity to find out about your financing plans in a targeted manner so that you can immediately ask the right questions during a consultation.
On the subject: Buying
You want to buy a property?
Regardless of whether you have to finance a purchase or a new building, the same questions always arise first with any financing: the type of financing, the design of the fixed-interest period, the term and the interest rate conditions. At first glance, the purchase of a property seems easier to calculate than a new building. The costs include the purchase price plus incidental acquisition costs (land transfer tax, notary and court costs for the purchase contract and, if applicable, a broker's fee). In the context of financing, there are also the notarial certification and the registration of the corresponding land charge in the land register. The costs for this are usually around 0.5% of the loan amount.
What you should look out for when buying
Based on this calculation and the own funds available to you, the sum you need to finance is determined. In this context, the most important question is how high your loan can be. You also need to clarify which subsidies are available to you. Depending on the age and condition of the property, you should also start thinking about renovation and modernisation measures and possibly tackle them immediately. It is particularly important here that the financing bank also offers favourable KfW loans as a supplement to your construction financing in order to keep the cost of financing as low as possible. In this respect, it is important to consider all future options for financing from the very beginning. Our advisors will be happy to assist you with their expertise.
On the topic: Building
You want to build?
If you want to build, here again all the questions that come with any construction financing arise. What type of financing should I choose? What about the fixed interest rate and the conditions? What is the most favourable repayment and term for me? In the case of a new construction project, you should also pay attention to the disbursement conditions, possible subsequent financing and the ancillary costs of the entire financing.
Payout conditions
For a new building, punctual disbursement is particularly important. The best interest conditions are of no use if the loan amount is not disbursed on time and you cannot pay your property or the craftsmen on time. For this reason, the disbursement conditions must be precisely tailored to your construction project, otherwise you risk a construction stop or expensive interim financing. Expertly designing your financing and choosing the right partner will ensure a smooth process here.
Do not forget the incidental costs
During the construction of a house, you initially incur additional financial expenses: You finance the land and then the construction costs from the start of construction. At the same time, you continue to pay rent and later the costs for moving. In this phase, which can last several months, it is necessary to keep the additional costs for financing as low as possible. There are a number of points you should consider for this: When are the first interest payments due? Is there any commitment interest to be paid? What fees for surveyors and the registration of the land charge have to be paid? Planning ahead will help you avoid unnecessary expense.
Comprehensive and competent advice also creates the basis for smooth financing of your new building project. Our staff will be happy to advise you in detail.
On the subject: rescheduling
You want to refinance and need follow-up financing?
The situation is completely different from the purchase or construction of a new property if your financing expires after several years and you need follow-up financing. In the case of such a debt rescheduling, it is now possible to switch to another bank without any problems. In any case, the interest saved clearly exceeds the costs of changing financing partners. Under certain circumstances, you can quickly save a five-digit euro amount in interest payments. You should take advantage of this opportunity and obtain offers for follow-up financing in good time. This is also because the offer from your bank is by no means always the most favourable.
Think about rescheduling early enough
You should think about your follow-up financing early enough. Even 12 months before your financing expires, it is worthwhile to obtain offers and compare them at your leisure. A conversation with one of our advisors is enough to find out what savings potential an optimal debt restructuring opens up for you. There are many possibilities - even if your old financing still runs for a longer period of time. With a forward loan, for example, you can secure the current interest rate conditions up to five years in advance. After ten years, you are able to cancel your current financing without an expensive early repayment penalty in order to take out a more favourable follow-up financing. And even with an early repayment penalty for your old loan, a debt restructuring may well still be cheaper. We will be happy to advise you without obligation.
On the subject: Modernising and renovating
You want to modernise or renovate?
Over time, your property will also need renovation or modernisation. If you put off the necessary measures for too long, you will only increase the maintenance costs later on. Every measure - no matter whether modernisation or renovation - increases the living value of your property and thus also your personal quality of life. Sensible maintenance work can quickly pay for itself in savings - for example in heating costs. You can replace a lack of own funds with customised financing, which is also supplemented with favourable subsidies such as KfW loans.
On the subject: Capital investment
Do you use your property as an investment?
Not everyone who buys a property uses it later to live in. Real estate is one of the safest capital investments if the underlying investment is well planned and competently accompanied. The possible tax advantages should not be the sole criterion. The location and condition of the property are at least as important. The level of rents, the current demand situation and the characteristics of the regional market are other important factors that influence the return on your investment property. Each property requires an individual valuation, as different legal and tax regulations apply depending on its use and type. Really good advice must take into account all the circumstances that affect the success of your investment decision. We offer you comprehensive advice on this, which will help you set the course in the right direction even before you make your purchase decision. Feel free to let us advise you without obligation.
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