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Video: Building savings: a bit of luxury in the bathroom
It is never too early for barrier-reducing conversions: bathrooms without thresholds are comfortable and they increase the value of the property.
The Reiter family has lived in their home on the outskirts of Cologne for almost twenty years - and still feels comfortable there. Now the youngest son has moved out too. "Time for a fundamental renovation, " says Peter Reiter. The passionate hobby cook has long wanted a high-class, built-in fitted kitchen. But his wife doesn't want to leave it at that. "If we take money into our hands, it should be even more convenient. Wider doors, a few sensible changes to the floor plan, a barrier-free winter garden - and of course a new bathroom.”Also without thresholds.
In short: Everything should be designed so that it is comfortable even in old age. The Reiters, both in their early 50s, are determined to stay in their property for the next twenty years or more - and are happy to be able to afford it. They don't see any problems with the financing. Both have been building savers since they were young, have always exhausted all funding options such as housing premiums and Riester - and have now calculated precisely.
Interest rate safe
Peter takes care of the money for the winter garden as well as the conversion and installation of the kitchen. A friend of the interior designer estimated a total of around 36, 000 euros. Reiter has saved 5000 euros, the rest he wants to bring in via an instant loan from LBS, which he combines with a home loan savings contract. This means that the entire loan amount is immediately available, but initially only the interest is repaid. For this, Peter pays into the home loan contract in parallel. Only when the building society contract becomes ready for allocation does it replace the loan in one fell swoop and then only serves the building society loan. The big advantage here: All installments and interest can be calculated and fixed for the entire term. Peter has to estimate around 180 euros per month, as he could calculate himself in advance on the LBS online calculator. "A great service, " says the IT professional.
Monika Reiter takes care of the age-appropriate conversions. It also needs around 30, 000 euros for this. And it is also banking on building savings - this time in combination with KfW funding. Her home savings contract is also designed in such a way that the loan can be entirely replaced when the loan is allocated. Particularly attractive for Monika: In 2015, the conditions for age-appropriate conversions were improved again.
Photo: LBS homeowner trend 2015
This is because modernizers can receive up to 50, 000 euros from the funding grants of KfW loan 159. There is no minimum age. Experts therefore even recommend young families to use the funding. After all, threshold-free bathrooms and rooms are not only comfortable, they also increase the value of the property.
Finance the renovation
Four out of ten homeowners regularly save money for future modernization measures:
- 180 euros: This is the average amount of money that homeowners saved for their reserves every month in 2015.
- 5000 euros: LBS customers only need this much equity to take out a modernization loan of 35, 000 euros immediately. The monthly installments are only 180 euros.
- 46, 000 euros: This budget allows home savers to plan a monthly installment of 240 euros.
You can calculate your personal budget and financing at www.lbs.de/modernisieren.
In this post you read:
- A bit of luxury in the bathroom
- "Even more security for borrowers"