Byserdet27
Let's assume I earn €5,000 net per month and have two children. I save €1,500 of my money each month for a property. After two years, I'll have accumulated approximately €40,000. How do I proceed? What steps or milestones do I need to achieve before a bank will grant me a loan?
(2 votes)
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Good morning, What needs to be taken into account when making a preliminary application for solvency: if the rent arrears become even higher or the rent arrears are calculated further upwards due to repairs etc., will these then be taken over?
The bank expects an equity of 20% + notary costs + brokerage fees + basic income tax from you. And if your mtl. income then fits due to the household members, then you can get a loan.
So at a purchase price of 500,000 should be at least approx. 130.000 € available. It should also be borne in mind if further renovation should take place that this capital is also available as equity.
The ordinary citizen makes money, saves his money slowly and can then have his first and only property somewhere after 20-30 years.
Not exactly desirable.
You should be in the range between 20 and 30% of the purchase price plus. Purchase costs (Notar, land register, land purchase tax, broker, if necessary) move so you can finance a house.
The better the credit, the better the terms.
For my part, with such a net income, I would rather invest the money, e.g. in rented properties in reasonable locations. After 10 years a sales profit is tax-free and on the go you take the rent as income.
From the proceeds you can buy the home in the optimal case without having to borrow a loan.
depends on what the appropriate property would cost in your living environment ….
You should be able to pay a part so that the rest can be reputed
Sale price: 500,000 euros!
20 to 30 % should be present as equity