Before you make the final decision to buy a freehold house or flat, you should go through the following checklist and think through all the points.
The advisors of construction financing companies such as BHW or LBS cannot always be trusted one hundred percent. They may be more concerned with collecting their commission for a successfully concluded contract and do not always act in the interest of the customer. Therefore, you should assess your own financial situation yourself to avoid getting into trouble later.
Here's your personal checklist to find out if you can afford to own your own home or if you should wait a little longer:
- How high can you go with the monthly rate?
- How long do you pay off the loan?
- What do you end up paying back in total?
- What other fees apply?
- Can you pay off the loan earlier or make sporadic extra deposits?
- What security does the lender require?
- Do I still have enough money left after the instalment payment?
- What insurances will I need?
- Is the property correctly described in the purchase contract?
- Should I seek advice from a financial advisor?
- If you can answer all these questions satisfactorily, then nothing stands in the way of buying your own home.
