ᐅ Financing a Double Garage After Completion of a Single-Family House
Created on: 12 Feb 2021 08:36
Z
Zenjamino
Hello everyone,
We are in the final stages of completing our single-family home.
Initially, we decided to forgo the garage in the planning phase since everything was already becoming more expensive than planned.
However, now that we are inheriting a vintage car and also receive the child benefit for two children (200 euros/month for 10 years), we would like to build the garage after all. We would also contribute an additional 10,000 euros of our own funds. --> So that would mean 34,000 euros in total.
My question is whether projects like this typically come with higher interest rates or not (compared to a single-family home)?
Maybe someone already has experience with this?
Thanks in advance and best regards,
Zenjamino
We are in the final stages of completing our single-family home.
Initially, we decided to forgo the garage in the planning phase since everything was already becoming more expensive than planned.
However, now that we are inheriting a vintage car and also receive the child benefit for two children (200 euros/month for 10 years), we would like to build the garage after all. We would also contribute an additional 10,000 euros of our own funds. --> So that would mean 34,000 euros in total.
My question is whether projects like this typically come with higher interest rates or not (compared to a single-family home)?
Maybe someone already has experience with this?
Thanks in advance and best regards,
Zenjamino
K1300S schrieb:
The last time I checked, for 35,000 euros there was only a prefabricated garage without any extras except an additional door. No electrical installation, no wallbox, and no retaining wall either.Hmm, about six months ago I had a quote for a double garage with an electrical package, a door, and a walkable roof for just under 30,000 euros. But that’s true, it didn’t include slope stabilization, because the recommendation was to secure the slope with L-shaped concrete blocks first and then build the garage in front of it.You could ask about a (pre-financed) home savings contract. That’s how I refinanced back then, without a mortgage lien (the bank advisor managed to arrange this) and with significantly better interest rates than my “regular” loan. A year had passed by then, and interest rates had dropped. The downside: you save up money, earn very little interest on it, and at the same time pay back the full loan amount. But if you have some “starting capital,” you might be able to deposit it as a lump sum and shorten this phase.
bauenmk202016 Feb 2021 07:00halmi schrieb:
And make the garage one meter longer right away; it doesn’t add much cost anyway.And add a door to the garden so you don’t have to walk all the way around the house. Also, a small window to allow cross ventilation.Similar topics