Compare as many offers as possible – Tip 1

If you want to take out a loan for the construction or purchase of a property, it is worth comparing offers from different banks and credit institutions. There are various interest rate calculators on the Internet that allow you to compare the interest rates of different providers. You can also contact the banks and credit institutions directly to receive offers.

It is important to compare as many offers as possible to find the best interest rate for you. The more offers you compare, the greater the chance that you will find an attractive interest rate. Also compare the conditions of the different providers, such as the fixed interest period, the unscheduled repayment options and the repayment conditions. That way you can choose the best offer for you.

Comparison tip summarized:

• Compare as many offers as possible from different banks and credit institutions
• Use an interest rate calculator on the Internet or ask the provider directly.
• The more offers you compare, the greater the chance that you will find an attractive interest rate

Also compare the terms and conditions of the various offers (more on this in a moment), such as the fixed-interest period, the unscheduled repayment options and the repayment terms.

Construction financing: provider comparison

Check current conditions online, right here:

• Construction financing in comparison

Consider the fixed interest period – Tip 2

The fixed interest period indicates how long the construction interest rate remains guaranteed. For example, if you choose a fixed-interest period of 10 years, the construction interest rate remains constant for the duration of 10 years. After the fixed interest period has expired, the interest rate may change and adjust to the current market interest rate.

There are advantages and disadvantages to different fixed-interest periods. A longer fixed-interest period can be somewhat more expensive, but it also offers more planning security. You know exactly how high the monthly installments will be for the duration of the fixed-interest period and can plan your finances accordingly. A shorter fixed-interest period, on the other hand, can be more favorable, but is also associated with a higher risk, as the interest rate can rise after the fixed-interest period has expired.

When deciding on a fixed-interest period, you should therefore consider whether you are more interested in planning security or in the lowest possible interest rates. You should also compare the interest rates for different fixed-interest periods with different providers to find the best offer for you.

Interest rate lockup summarized:

• Fixed interest period indicates how long the construction interest rate remains guaranteed
• Longer fixed-interest period offers more planning security, but is also somewhat more expensive
• Shorter fixed-interest period is more favorable, but also entails the risk that the interest rate may rise after the fixed-interest period has expired
• When selecting the fixed-interest period, consider whether you are more interested in planning security or in the lowest possible interest rates.

Compare different forms of interest – Tip 3

There are different forms of interest that you can choose when financing your construction. The most common forms of interest are:

1. Fixed interest
2. Variable interest
3. Combined interest

Fixed interest

With fixed interest rates, the construction interest rate remains constant throughout the term of the loan. This provides planning security, as you know exactly how high the monthly installments will be. However, fixed interest rates are usually somewhat more expensive than variable interest rates.

Variable interest

With variable interest rates, the construction interest rate can change during the term of the loan. It is adjusted to the current market interest rate. Variable interest rates can be more favorable than fixed interest rates, but also offer less planning security, since you do not know exactly how high the monthly installments will be.

Combined interest

Combined interest rates are a combination of fixed and variable interest rates. One part of the construction interest rate remains constant throughout the term of the loan and the other part is adjusted to the current market interest rate.

Each form of interest has its advantages and disadvantages. Compare the different options to find the best form of interest for you. Also consider your personal preferences and your financial possibilities.

Consider the unscheduled repayment options – Tip 4

Unscheduled repayments make it possible to repay the loan early and thus save interest. There are various options for unscheduled repayments, such as:

1. One-time unscheduled repayment
2. Regular unscheduled repayments

One-time unscheduled repayment

A one-time unscheduled repayment allows you to repay the loan once in full or in part. This can be useful, for example, if you suddenly have a larger sum of money at your disposal, for example due to an inheritance or the sale of a property.

Regular unscheduled repayments

It is also possible to make regular unscheduled repayments, for example monthly or annually. In this way, you can repay the loan faster and thus save interest.

When selecting a mortgage, consider the unscheduled repayment options offered by the various providers. Compare whether and how much unscheduled repayments are possible and whether there are any fees for unscheduled repayments.

Use comparison portals – Tip 5

There are various comparison portals on the Internet that allow you to compare construction interest rates from different providers. These portals usually also offer various filter functions that you can use to narrow down the search according to your preferences, for example, by fixed-interest period, interest rate or repayment conditions.

The comparison portals can be a good way to quickly and easily get an overview of the various construction interest rate offers. However, you should note that the comparison portals usually do not take into account all providers and conditions and that the offers may not always be up to date. It is therefore advisable to check the offers directly with the banks and credit institutions.

Exactly right! Click here for the provider comparison

Check current conditions online, as always 24/7 here:

• Construction financing in comparison

Use the offers of intermediaries – Tip 6

Intermediaries are specialized service providers who can help you find a favorable construction financing. They compare the offers of different banks and credit institutions and advise you on the best financing for you. Some brokers also offer exclusive deals that can only be obtained through them.

The services of intermediaries are usually subject to a fee. However, they can save you a lot of time and effort in the search for a favorable construction financing and also arrange better conditions for you. It is therefore worth considering the offers of intermediaries. However, also find out about the conditions and fees of the intermediaries to make sure that they are actually advantageous for you.

Consider other financing options – Tip 7

In addition to banks and credit institutions, there are other ways to raise money for the construction or purchase of a property. These include, for example:

1. Building savings
2. Building society loan
3. Promotional loan
4. Personal loans

Building savings

Building savings is a form of long-term investment in which you deposit money regularly and receive interest and tax benefits in return. The money saved can be used for the construction or purchase of a property if required.

Building society loan

A home savings loan is a loan granted on the basis of your home savings contract. You do not have to provide any collateral and can usually benefit from favorable interest rates.

Promotional loan

There are also various development loans offered specifically to builders or homebuyers. These loans are usually more favorable than conventional bank loans and are provided by the federal government, states or municipalities. However, there are usually certain requirements that must be met in order to receive a development loan.

Personal loans

It is also possible to take out a loan from friends or relatives. This usually brings you favorable and sometimes flexible conditions, for example, if you can not pay an installment on time.

Negotiate the construction rate – Tip 8

It is not uncommon for banks and credit institutions to have a certain amount of leeway when it comes to construction interest rates. It is therefore worth negotiating the construction interest rate and asking for a reduction.

There are several factors that play a role for banks in evaluating creditworthiness that can affect the construction rate. These include, for example:

1. Credit rating (creditworthiness)
2. Amount of the credit
3. Fixed-interest period
4. Type of property

Credit rating (creditworthiness)

Your credit rating indicates how likely it is that you will be able to repay the loan. As a rule, the higher your credit rating, the lower the interest rate.

Amount of the credit

The amount of the loan can also influence the construction interest rate. As a rule, the larger the loan, the higher the construction interest rate.

Fixed interest period (mentioned above)

As already mentioned, the fixed interest period indicates how long the construction interest rate remains guaranteed. A longer fixed-interest period is usually more expensive than a shorter one.

Type of property

The type of property can also influence the construction interest rate. For example, construction interest rates for single-family homes are usually more favorable than for multifamily homes or commercial premises.

Take these factors into account when negotiating the construction interest rate and try to present your arguments well. It is also worthwhile to obtain offers from several banks and credit institutions and compare them with each other. This way you can find out who is willing to reduce the construction interest rate.

Start construction planning?

Here you can find good conditions in comparison:

• Construction financing check

Interior design: The latest trends in home design

Once the house has been found and bought, it’s time for individualisation and renovation. But what are the latest trends and how does the interior design get a very personal touch?

Living trends: natural, hygge and the feel-good factor

The living trends go further and further in one direction, namely to the trend home love, feel good and above all the return to nature. This is expressed in many natural materials, fabrics and shapes. The theme of hygge is a significant factor in this context. The word hygge originally comes from Danish and means something like cosy, pleasant, comfortable or intimate. In this context, the trend has evolved and the cozy atmosphere and feeling good in your own home is the focus. This is achieved especially through natural materials, such as wood or stone. In addition, subtle colors, such as light gray, beige tones and white are combined to create a coherent overall picture. Plants and green tones that are not too gaudy can also be found in the concept and again refer to nature. In his created home you should find peace and relaxation and thus be able to escape the stressful everyday life.

Living trend Lagom: Cosy, thoughtful but not too crowded

This living trend is once again due to the north. Here it is all about finding the golden mean. Literally translated, it means something like ‘just right’ or ‘not too much and not too little’. However, this is not just about living and decorating, but about the balance of all things. More specifically, around sustainable living that rewards us with contentment. Lagom, like Hygge, also relies on natural materials such as wood and want, but avoids the too-full look. The idea is to invest wisely in favourite pieces that you won’t get tired of for a long time. Always mindful of sustainability and our environment.

Redesigning living spaces and falling back on old familiar things

Moving can be very expensive and of course you don’t want to furnish the new apartment completely with new furniture, but you want to move your favorite pieces with you. Often it turned out to be difficult to integrate the old pieces of furniture into the new space and create a cozy atmosphere. Among other things, this can be due to the fact that the new property is divided differently and the dimensions of the existing furniture can not be combined with the dimensions of the living space. However, you can easily take the tricks of interior designers and approach the design of the new living space with proper planning and organization. To find the perfect couch for their living space, check out our post on‘The Perfect Couch‘.

Space planning: using the technology of interior designers

Of course, you can also hire an interior designer for the new design of their living spaces, but this is too expensive for most and also not necessary. Instead, you can use the technology of the professionals to design your new home yourself.

Interior designers use certain programs with which they can graphically depict and design the rooms on the computer. But since it would take too long to learn how to use the programs, you can use the cut-down version of them. First you have to measure each room exactly. Write down all the measurements on a piece of paper.

You need the length of each wall and where the doors and windows are located. It is best to write down the measurements in centimetres so that it is easier for you later. When you have taken all the measurements of the new rooms, do the same with the existing furniture. You will need the length and width of each piece of furniture. When you have taken all the measurements, start dividing them by 10 to reduce the scale.

Now you need a large sheet of white paper, preferably A3 size. First draw the room in a smaller scale on the paper, together with all doors and windows in the right places. Then draw all the furniture in small scale on a separate sheet of paper, label them and cut them out.

Now you can move them back and forth in your pre-drawn room, try out different constellations and see exactly which pieces of furniture fit best to scale where and where something might still be missing. With the help of this plan, you can also find out how big the missing pieces of furniture can be.

You can use this technique for all rooms, effectively planning which piece of furniture to place where. It does take a bit of work, but it’s worth it and gives you a better feel for the room. You can keep these plans and if you ever want to redesign your new home, it’s worth using them again.

Using colours to structure and design rooms

After you know how you want to place your furniture, you should think about the style that your new property should have. Of course, furniture is already a big part of the style, but you can change and direct it with accessories but especially with wall colors.

Some rooms do well with a normal white wall, because the furniture is very fancy and it is enough to put accessories to complete the style of the room. However, in a room with more subtle furniture, accents of color on the walls do very well. In general, it is advisable not to use too bright colors, as they can quickly make the room look very hectic and cluttered. For color accents, it is advisable to accentuate only certain areas of the room with it and not directly paint all four walls with it. For this, you should choose the right spot that supports the room in its style.

Another good tip to also make a room look taller is to not paint to the top of the wall, but leave a small border where the wall overflows into the ceiling with white paint. The room will look taller and therefore larger and more inviting. The texture of the wall is also key. For example, it makes a big difference whether you use ordinary woodchip wallpaper or leave the walls smoothly plastered.

It looks more elegant and softer to have the walls plastered, but is a greater expenditure of time – and money. Wallpaper also offers a great design surface. It is also recommended here not to resort to too colorful elements, but rather to subtle colors and great patterns. You can also use wallpaper to bring a certain flair to the room, such as photo wallpaper that depicts a brick wall and thus give the room an industrial look. Of course, the most important rule in interior design is ‘what you like is allowed’, but it’s worth looking at the latest trends and getting inspired.

https://www.instagram.com/p/BnoxgZxCRSW/?tagged=wallpaper

Decoration: Accents shape the room

After the arrangement of the furniture and the colors of the walls is determined, the room is ultimately completed by the right accessories. Often, and especially for inexperienced room decorators, it makes sense to get the accessories after the walls are painted and the furniture is in place. You can simply better visualize where a picture or plant would look best in the almost finished room. Accessories shape the room and ultimately, you’ll never really be done because great accessories can be found everywhere and you can always add to their collection. In general, you should decide on a color pattern and stick to it, their furniture and wall color should also fit into this pattern. For a plain room, fancy accessories, a special painting or a great big lamp to give the room some flair. In rooms with special statement pieces, such as a colorful sofa or a patterned wallpaper, more subtle accessories should complement.

The most important thing in interior design is that you follow your own style and design the room so that you feel comfortable in it. The most important thing is that you find yourself in the design and that it represents you as a person.