What is the right Bauspar financing? Tips on saving money

What is the right Bauspar financing? Tips on saving money

Anyone who wants to build a house or buy a condominium will make a wise decision. Instead of paying rent, the mortgage is paid off, and in debt-free age, more money is available for travel or purchases. It is not without reason that building creates "concrete gold". However, savings must be made before the start of construction or purchase in order to create a capital base, as otherwise banks and savings banks are hardly prepared to approve mortgage loans for financing: the higher the equity, the better. It is especially quick and lucrative if all options (tax benefits, government premiums and low interest rates) are exhausted in building society savings. It is advisable to conclude corresponding home savings contracts as soon as possible, because the conditions were never better for savers than they are today.

Guaranteed security

Building society savings is absolutely risk-free. The interest payable on a home savings contract will be determined at the time the contract is concluded. This advantage concerns both the credit interest in the so-called savings phase and the loan interest for the repayment phase. Sound mortgage lending can well run for a period of 16 to 20 years. No bank, unlike the building societies would set so long; Bank loans usually have a fixed interest rate of only five or ten years, which must not be confused with the total term of the loan. At the end of the fixed interest period, the interest is adjusted to the current market value, which can be expensive if in doubt. Already one percent more can make a total of several thousand euros to book. Moreover, the savings capital of the building societies is also in safe hands, because they are not speculating on the stock market and the assets (capital plus interest in unlimited amounts) are state-secured.

Bauspar is currently particularly favorable

The historical interest rate low makes it is possible: Interest on home savings loans has also fallen. Although the credit interest rates in the accumulation phase are also affected, building savings as a whole is currently extremely attractive. The oldest building society in Germany advertises with the lowest loan interest rate of all time since its foundation in 1921, the only at 1.35 percent p.a. lies. The APR is then 1.6 percent when allotted. Interest rates are similarly low for the other providers.

The state saves with

The benefits to be gained in building society savings depend on marital status and on taxable income. Therefore, a detailed expert advice is essential. Asset-efficient services can, for example, be paid into a home savings contract. As an employer's allowance, there are 43 euros for singles, 86 euros for married couples, as a housing premium are single 45, married 90 euros. It is particularly lucrative to (additionally) operate a so-called construction-Riester contract. A married couple with two children and two contracts can receive up to 906 euros annually from the state. An additional 300 Euro start-up bonus is available for young savers under the age of 25.

Compare the offers of the building societies

The contracts offered by banks and private building societies basically fulfill all the conditions described above, but the offers are by no means the same. This also applies to construction Riester contracts. The payable termination fee may vary from provider to provider as well as any intermediary fee incurred. Also account management costs can go into the money, so that depending on the term several hundred euros expenses can arise. It only helps to read the fine print very carefully.

Other forms of investment than home savings are currently not worthwhile. Daily, fixed or even savings accounts with statutory notice yield interest income of one percent and less. In plain language this means that the capital contribution loses value from year to year because the inflation rate and the loss of purchasing power are much higher than the interest earned. Builders should have such an account, however, as so-called & quot; iron reserve & ldquo; nevertheless set up to carry out unforeseen repairs. A savings deposit of a maximum of 5,000 euros is usually sufficient.

Artikelbild: © Jirsak / Shutterstock


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