Why Bauspar Now Worth Especially
Anyone who wants to buy a house in the foreseeable future can already use the low interest rates today. Building savings is also worthwhile for those who only want to save money. Those who belong to this group will find tips on the subject below.
Property buyers are looking forward to fantastic times: for a construction loan, Deutsche Bank Bauspar currently only requires one percent interest . Wüstenrot demands 1.6 percent and BHW 1.9 percent. Never before have there been cheaper loans from a building society.
The euro crisis has thus had positive consequences. In early October, the European Central Bank announced that the key rate remains unchanged at the record low for the time being. Unsettled investors are driven by the debt crisis in German Pfandbriefe and government bonds. This pushes their yields and thus indirectly the construction interest - by building societies and banks . The consequences are paradoxical: Loans with a fixed interest rate of ten years sometimes have lower interest rates than savings bonds with the same duration.
Building society savings mean planning certainty
The current situation is advantageous for those who now want to invest in a property. But even for those who want to buy a house in a few years, the current situation is an advantage. They can already secure the historically low interest rates for their purchase in the future - building savings makes it possible. Bauspar is a good option for all homebuyers , who assume that interest rates will not fall any further. Future property owners will save for seven or 15 years and then receive a construction loan if they wish. The advantage: The interest on the following loan and the austerity phase are already fixed today.
Higher interest rates are an advantage in certain cases
However, the topic of home savings is somewhat more complicated than the loan from a bank , Good deals are not necessarily those with the lowest loan interest rate . Because exactly these offers often require that the loan is paid off in the shortest possible time. The consequences are high monthly installments that many people can not afford. Therefore, it is advisable to accept a higher interest rate, which makes a longer repayment possible.
Contrary to popular opinion, interest rates are not the main criterion when choosing the best building savings rate. The decisive factor is how much money savers spend each month and how much they can repay later.
Rule of thumb : The faster and cheaper a loan can be redeemed, the cheaper the home savings contract.
The contract should therefore also offer all freedoms to pay off more than usual, if more money is available.
Combination of loans and building savings contract seldom worthwhile
Many smart bank advisers offer their customers an alternative option. If you want to buy your dream home right now, you can obtain a loan from a bank and thus buy the property. At the same time, the real estate buyer concludes a home savings contract. With a loan from the building society and the money saved, he will in future pay back the bank loan .
This method has one advantage: the planning certainty . Namely one knows its loads. However, it is unclear how the interest rates in the bank loan develop after the commitment period.
This construction is worthwhile. The reason: Bank loans are not paid off for years. From a mathematical point of view, the lending rate of the bank would already have to be higher than five to six percent in 15 years to make it worthwhile. In recent years, however, he was on average only 4.92 per cent for loans with a fixed interest rate over ten years. For fixed rates over 15 years, it was only 5.26 percent.
Why property owners are at an advantage
Whether building savings ultimately saves money or is used for real estate financing, everyone has to decide for themselves. A real estate purchase, however, should consider all people who can afford it. As the Empirica research institute noted, 50 to 50-year-old property owners with a net income of between 1,700 and 2,300 euros per month have almost twice as much financial wealth as comparable tenants. Their total assets including real estate are almost six times higher.
That should be motivation enough. The Germans have plenty of catching up to do anyway. According to current statistics of the Statistical Office of the European Union, the home ownership rate in the Federal Republic is only 53 percent. The quota for the neighbors in Austria, Sweden, Italy, France and the Netherlands is between 57 and 72 percent.
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Artikelbild: © Sergiy Bykhunenko / Shutterstock