Table of contents:

Financing tips: How to get home
Financing tips: How to get home

Video: Financing tips: How to get home

Отличия серверных жестких дисков от десктопных
Video: How to Finance Your First House 2023, February
Anonim

Do you want to buy a house but do not yet know how you as a family can finance it? We have an example of how you can safely get into your own home with attractive government subsidies and a clever distribution of monthly financing services, even with small or medium-sized incomes.

Table of Contents Table of Contents Financing for families on a tight budget

  • Financing on a tight budget
  • Use government funding for funding
  • Example of a financing plan
  • Advantage of financing: later taxation

Table of Contents Table of Contents Financing for families on a tight budget

  • Financing on a tight budget
  • Use government funding for funding
  • Example of a financing plan
  • Advantage of financing: later taxation

“A house like this will remain a dream for us.” Erika Metzger remembers well how she and her husband Sebastian studied the real estate pages of their daily newspaper and made a cash box a year ago. They wanted their own room for the two children and a garden for them to play in. However, due to the relatively low level of equity, this did not initially appear to be possible.

Financing on a tight budget

The two had 30, 000 euros in their call money account for the financing. There was also a small building society contract worth 25, 000 euros and was about to be allocated. The real estate in question in their area all cost at least 300, 000 euros. According to their calculations, they would have had to raise more than 1, 000 euros a month for interest and repayments. "That was simply too much for our narrow monthly budget, " the butchers stated.

Use government funding for funding

Financing only became feasible when the couple came across an article in the newspaper about an energy-saving efficiency house a few weeks later. "The Kreditanstalt für Wiederaufbau (KfW) promotes the first purchase of homes that use very little energy with low-interest loans, " they learned from their LBS consultant. "If you take advantage of the LBS financing offers and cleverly incorporate the residential Riester funding, you can also fulfill your dream, " he promised.

Erika Metzger, who was on parental leave, was initially skeptical whether the financing could work - she had no income of her own. "Since your husband receives allowances from the residential Riester, you can also claim the support as a non-earner, " said the LBS man. Sebastian Metzger transfers 4 percent of his previous year's gross amount (minus allowance) to his Riester home savings contract. And Erika, as a spouse, is entitled to all residential Riester benefits even without her own income - with a small deposit of only 5 euros per month (i.e. only 60 euros per year) on her own home savings contract.

Example of a financing plan

The very next day, the consultant presented the following example of financing: A row corner house that meets the requirements of a KfW Efficiency House 70 costs less than 240, 000 euros including all purchase costs (such as land, property transfer tax, notary fees). 30, 625 euros are in the call money account, 11, 100 euros are the credit on the building society contract - a total of 41, 725 ​​euros equity. They had to finance the rest.

For the house financing, the butchers signed two LBS-Wohnriester building society contracts: Sebastian one over 80, 000 euros, Erika the other over 30, 000 euros. They save both contracts for 15 years until they are granted. The residential Riester grants of 175 euros each help with this. In addition, there is the child allowance for the two children born from 2010 of 300 euros each year (for children born before 2008 it would be 185 euros per year). Both child allowances are based on the mother's building society contract and increase the annual savings payment to 835 euros.

The period until the building society contract is ready for allocation is bridged by two pre-financing loans in the amount of the building society savings. The interest rate for these loans remains fixed at 2.75 percent until the pre-financing loans are repaid (around 15 years). There is no redemption initially. The missing 87, 900 euros of the purchase price are covered by the building society loan of 13, 900 euros (from the allotted building society contract), the savings bank loan of 24, 000 euros and the KfW loan of 50, 000 euros. The monthly rate for the butchers is 875 euros. Thanks to the Riester allowance, it drops to just under EUR 800 from the second year of financing. "We can shoulder that without further ado, " the two agree.

Advantage of financing: later taxation

One advantage of this example of financing is the taxation of the housing promotion account: deposits on the Wohn-Riester building society savings contract up to a maximum of 2, 100 euros per year are taxed by the butchers only in old age. They make savings and repayment installments from untaxed income; the tax authorities only take a toll on credit interest and government allowances in retirement.

Advantage for the butchers: The tax rate is usually lower in old age. And families initially gain financial leeway. The LBS records its savings and repayment installments and the allowances on the housing grant account. After retirement, at the latest after reaching the age of 68, the amount recorded, including a predetermined interest rate, is taxable.

Good to know: the butchers can decide whether to pay the tax in one go or spread it over the payment phase. In the first case, there is a discount of 30 percent - the tax office only uses 70 percent of the amount for taxation.

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