Buying a property is always associated with many uncertainties. Can I afford a property at all - and if so, what is the maximum price I can afford so that I don't overextend myself financially in the long run? In order to answer these and other questions, you should deal with the topic of real estate financing at an early stage and seek individual advice.
When financing your dream property, you can choose between two options: the annuity loan and the full repayment loan.
The annuity loan is the most common option and very popular with borrowers because it offers a high degree of flexibility. The term of the fixed interest rate is specified in the loan agreement - for example, 10, 15 or 20 years. At the end of this period, you can switch to a more favourable follow-up financing.
With a full repayment loan, the procedure is somewhat different, because here you already know when you take out the loan how long it will take to pay off your property. The amount of the loan instalments is therefore adjusted to the intended term.
If you want to buy a house or a flat in Bonn, you should think everything through carefully in advance and also plan for unforeseeable events - for example unemployment. The monthly instalments for interest and repayment must be easy for you to manage. In addition, there are running costs for electricity, heating and hot water as well as for waste disposal. As a property owner, you should also have a financial cushion for repairs. For example, repairing a broken roof can quickly cost several thousand euros. If you don't have this money, you may have to take out another loan, which will put an additional strain on your monthly budget.
As a prospective real estate buyer, you may have already familiarised yourself with various financing models and realised that the range of offers is almost unmanageable. The same applies to the risk of making the wrong decision, which you could bitterly regret in a few years. Our advice to you is therefore: sit down at the table with us and let us advise you individually and absolutely objectively. After we have gained an impression of your economic situation and your personal ideas, we can refer you to a suitable credit institution with a clear conscience. Thanks to our excellent contacts in Bonn and the surrounding area, it is often possible for us to arrange financing for our clients at special conditions - however, the decision on the form and approval of your loan agreement is ultimately made by the financing bank.
If you have any questions about real estate financing, please contact us - we will be happy to advise you!