First of all, the coffin comes – this rule is especially true when you buy a property. Since a loan is needed in many cases, this cashing is not just about how much money you can directly raise to finance the property, but also about the monthly amount that is available for the repayment of the loan. With this calculation, you must, therefore, set all monthly income to the expenses.
It is advisable to be careful. If you calculate too short, even a small, unexpected financial burden, such as the purchase of a new washing machine, can bring repayment out of step. Major purchases, such as a car, or unexpected events, such as unemployment for several months, would they even put the entire financing in danger. If you have conservatively calculated, you can put “excess” money easily on a special repayment in the repayment of the loan. The best details are there with https://caborealestateservices.com/ Top 10 Hidden Gems in Los Cabos now.
It’s best to use an online calculator like Interhyp’s home calculator to get the most out of your available monthly budget. With our calculator fields are available for virtually all the usual costs, so you forget nothing. Once you have determined your monthly budget, you are ready for the real estate search.
Buying real estate – that works without brokers
Of course, a broker makes much easier when it comes to buying a property: viewing appointments are usually well prepared, and he can usually provide you with all the important information about the property. In addition, the broker takes care of an appointment with the notary, who must prove the purchase.
For these services, however, brokers receive a not insignificant amount – in most cases between three and seven percent of the purchase price. If you want to save on these costs, you can also look for offers in which no broker mediates. For example, ask your friends and acquaintances, use social media or look for offers on real estate sites such as Immobilienscout24, Immonet, or Immowelt. Although you usually restrict this procedure when making your choice, with a planned financing amount of 200,000 dollars you also save between 6,000 and 14,000 dollars, which you can put into work on the property or in the amortization.
Buy the right property with the right financing
Before you can finally seal the purchase of a property, of course, the financing must be clarified. The best way to start looking for a financing offer is to start looking for an object.
The personal interest calculator from experts can be of great help here, as it calculates suitable financing based on a few key figures. In addition to the monthly budget and the purchase price, you must indicate what percentage of the loan amount you want to repay annually and how long the borrowing rate should be bound. You have some leeway here, but you should probably set the initial repayment higher, especially at low-interest rates; so you are faster debt-free and save interest costs. Make sure, of course, that the monthly rate remains affordable for you. In many cases, repayment of two to four percent is recommended, in phases of low-interest rates, one should quietly repay higher, and makes sense than repayment of three percent and more. The fixed-interest period is between 10 and 20 years usual, the lower the interest at the conclusion of the contract, the longer you should choose the deadline. So you secure the favorable interest rates over a longer period.