Building savings contract: How to modernize your house cheap and clever!
Building savings contract: How to modernize your house cheap and clever!
In times of increasing energy costs and growing interest in sustainable modernizations, the building society contract as an attractive financing option is becoming increasingly relevant. BNN emphasizes that homeowners should deal with building society contracts if they want to modernize their home. Above all, projects to improve energy efficiency, such as the installation of solar systems, help the owners to become more independent of the energy market and to reduce operating costs in the long term.
Building savings contracts offer a combination of a savings plan and a subsequent construction loan, whereby the conditions are determined at the end. The current interest rates for home loans are between 2.0 and 2.5 percent, which makes it particularly attractive compared to traditional bank loans. In this way, modernizations such as insulation, roof renovations or heating changes can be financed cheaply.
Advantages and disadvantages of building society contracts
Stiftung Warentest has carried out comprehensive analyzes at over 140 tariff variants of 13 building societies to filter out the best building paralysis. The results show that tariffs from BHW and LBS Süd did well in several model cases, but there was no clear test winner. Some of the advantages of building society contracts include the interest independence of the loan height, unlimited special repayment options and government subsidies.
However, there are also some disadvantages to be observed. The final fees can be high and in the savings phase the interest is only 0.15 percent on average. According to Test.de , the individual savings times and the capital requirement must be coordinated exactly in order to avoid expensive intermediate credit.planning of modernization projects
Homeowners can finance various modernization projects with building society contracts. Examples are the 25,000 euro photovoltaic system or a change of heating that can be realized over a period of six years. Other projects include the attic expansion or the construction of a winter garden, for which 75,000 euros are planned in eight years. Large renovation projects worth 125,000 euros should be completed within twelve years.
For rational decision making, it is recommended to use an online computer in order to determine the best building contract for individual needs. This is particularly important because the personal test winner can vary individually and there is no general optimal solution.
The comprehensive training in the field of finance is also supported by platforms such as Finanztip . The non -profit foundation pursues the goal of promoting financial education in Germany by providing free content via building society contracts and finance decisions. This should be able to get clarity about their options and be able to make the best possible financial decisions.
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