If saving is no longer worthwhile, it is time to spend your hard-earned money and invest it sensibly – especially in the current low interest rate phase, it is definitely more sensible to put your savings into an investment than to park the money in a savings account. In recent years, the Germans have rediscovered the so-called concrete gold as an important investment, i.e. buying a property in order to secure or even increase their own savings in the long term.
Thorough planning is essential when it comes to real estate loans
But no matter how full your own savings account is at the moment: Very few consumers can finance the purchase of a condominium or even their own house entirely out of their own pockets. However, this is not necessary at all, because just like savings interest rates, the conditions for real estate loans are currently at an all-time low. However, due to the large amounts of money and long commitment that the borrower makes to the bank when taking out construction financing, the taking out of a building loan should always be planned thoroughly and in the long term. So if you want to fulfill your dream of owning a home in the new year, the best thing to do is to find the right, most affordable financing right now.
Free home finance comparison finds the most favorable terms
The first step in successful construction finance is to take stock of the existing equity that is to be brought into real estate finance. In order to obtain cheap building finance, future homeowners should bring in at least 20 percent equity. Therefore, the maximum budget for the search for your own dream house results from the amount of existing equity.
Once the loan amount of the real estate loan and the maximum monthly repayment rate have been determined, the current conditions of different providers can be determined via a free real estate loan comparison on the Internet.
By the way: If the new year does not start with a move to your own four walls, but only with a move to a new rental property, you will also find a cheap loan here to finance the moving costs or new furniture.