With a house financing planning belongs to one of the most important points.
If you want to fulfill your dream of owning your own property, you have to calculate for the long term.
The following tips and tricks will take another step towards owning a home.
1) calculate costs
Those who want to buy their own home should be honest with themselves. Without an accurate cash flow, the financing is not possible.
Basis is the income from work. In addition, in the income statement may be only items that raise regular payments.
Monthly expenses are also an important factor. Expenses due once a year should not be forgotten.
In most households, the money is made up of the following items:
- Living expenses
- Telephone, cell phone, internet
- Motor vehicle costs
- Retirement provision
- Broadcasting fees
After the comparison results in the freely disposable income, from which the monthly burdens for the house financing must be borne.
As a good orientation serves the current rent. According to a rule of thumb, the rate for a construction loan should not exceed 40 percent of net disposable income.
2) determine the need
The total cost in home financing is made up of the construction cost of a property or the purchase price of the home.
Incidental expenses also count.
Further fall with a house financing:
It is advisable to calculate generously to cover any forgotten items. Subsequent financing is less attractive and increases the monthly burden.
Those who want to build a new house should keep in mind that the loan will be paid according to the progress of the house.
When financing a house, it is recommended that at least all ancillary costs can be covered with the equity capital.
The more equity can be raised, the better. In addition, other savings in addition to the equity can be used. Among other things, this allows you to reduce the interest rate.
From time to time it may happen that unforeseen costs arise. Especially for this case it is worth to put aside extra equity capital.
Financing is possible with little equity, but banks want collateral for it. Full financing is only possible with a good income.
The higher the risk for banks, the higher the interest rates will be.
4) compare offers with each other
Since it is a major investment, one should obtain different offers.
In addition, there is the possibility on the internet to use various offer comparison calculators.
The following documents are required:
- Evidence of income
- Copy of the identity card
- Proof of available equity capital
- Property documents such as site plan, construction description or construction cost statement
The dream of owning a home and owning four walls requires a lot of effort and time.
Above all with the search for a suitable financing should be left accordingly time.