Building savings with Bauspar contract

Building savings with Bauspar contract: contract

Even though there are many different forms of financing today - the home savings contract is still very popular in German households. Home savings financing is a good solution, because the problem of follow-up financing due to the complete eradication does not even arise.

A due Bauspar contract does not have to be used for home or house purchase. It can also be used when renovating the home or renovating. According to Finanztip, a Bauspar contract offers some advantages over other forms of financing. The disadvantages of building savings should also be considered.

Bauspar contracts: The advantages and disadvantages

The following table roughly illustrates the Advantages of today's Bauspar contracts:

  • High loan possible
  • Subordinate registration in the land register
  • wide choice of tariffs
  • the amount of interest is fixed
  • Special payments can be made without prepayment interest
  • Citizens with low incomes receive a housing premium and, if necessary, an employee savings bonus on their home savings payments

But Finanztip also clearly refers to the Disadvantages of building savings:

  • Different long allocation periods
  • Months may still be up to the payment after the ration
  • completely unsuitable for short-term real estate request
  • Final fees for the intermediary agent
  • If applicable, additional fees when using the loan
  • high financial burden due to the short repayment period
  • Partial compulsory completion of a residual debt insurance
  • low credit interest in the savings phase
  • high market interest rates for pre-financing of the minimum savings
  • poor transparency, without complex PC programs own calculation of the real costs is not possible

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Video Board: Company movie Contractual Savings for Housing company Schwäbisch Hal