There are many hurdles to overcome when planning and building a home. Almondia supports future homeowners in all important decisions on their way to their own home. So does the Steinert family. In May, the young family decided to take the exciting step of building a house together with Almondia. In this construction diary, we regularly report on personal experiences, decision-making processes, mastered challenges and Almondia’s support throughout the planning and construction phase. Whether looking for a plot of land, building financing or room allocation – read here how the Steinert family finds a suitable solution for every challenge together with Almondia. This article is about construction financing.
More construction diary entries
- Construction diary part 1 – The Steinert family introduces itself
- Construction diary part 2 – We want a house!
- Construction diary part 3 – the challenge of the plot
- Construction diary part 4 – many questions – many decisions
- Construction diary part 5 – process of house planning
- Construction diary part 6 – construction financing made easy
- Construction diary part 7 – The right construction partner – Spoiled for choice
- Construction diary part 8 – signing the contract – technical jargon and small print
- Construction diary part 9 – building application – no house without permission
- Construction diary part 10 – start of construction – finally it starts!
- Construction diary part 11 – construction phase – the finale!
First steps in building financing
When the Steinert family began to think about their own house, the question of financial feasibility immediately followed. Tips from friends and from the internet were a good start to the research. How much equity should the Steinerts plan for? What monthly rate could the two of them pay? Sebastian and Julia Steinert had been watching the market for a while and had a rough idea of how much money it would take to build the house of their dreams. They set a budget that the two definitely wanted to get by with. They also knew that the higher the equity share, the better the conditions for the loan. (Here you will find further information on the question: How much equity is necessary for secure construction financing? )
Construction financing with a difference
When it became more concrete with the construction financing, the Steinert family was already being looked after by Almondia.
“We have completely relied on Almondia, which has brought us many benefits.”
In order to leave the financing to the professionals and thus save themselves work, Sebastian and Julia Steinert decided to have Almondia find the best financing offer. Almondia therefore first checked whether the wishes regarding the new home could also be realized with the budget set. The young family was then provided with useful information about home construction financing and pointed out hidden costs that most builders either do not consider at all or underestimate. “We completely relied on Almondia, which gave us many advantages,” sums up Sebastian Steinert with satisfaction. “We simply stated our general conditions: the loan amount, the monthly rate and the desired term. Almondia did the rest.” And that should prove to be a great advantage. (In our article Loans for construction financing you can get an overview of the different loan models.)
dealing with banks
Financing is a tiresome topic for most builders. Various offers have to be obtained, numerous discussions have to be held with various banks and ultimately a decision has to be made about investing a large amount of money. With the Steinert family, things were a little less complicated. Instead of rushing from appointment to appointment at different banks, Julia and Sebastian Steinert sat together with the Almondia financing expert. The expert advised the two and together they agreed on clear framework conditions. It was particularly important to the family that they could take out the loan from a long-established bank that had also been very reliable in the past. Almondia naturally took this wish into account in the subsequent research. “Almondia saved us a lot of work because we didn’t have to go to the individual banks.” Instead of the usual eight to ten bank appointments, the Steinert family made three phone calls and trusted the knowledge and experience of the Almondia home construction experts. (You can find out how to find the right financing offer in our article Evaluate financing offers .)
Tips for other builders
The Steinert family knows that when it comes to such an important issue as building a house and financing, it is above all about having a partner at your side that you can rely on one hundred percent. Giving trust is easier when you have competent and transparent support. This can be recognized, for example, by the fact that the professionals point out hidden costs. Above all, Sebastian Steinert draws attention to the ancillary construction costs, which should never be underestimated. Whether it’s a notary, real estate transfer tax, water or gas connection: These initially small amounts can quickly add up. Also, prospective homeowners should have a look at the market and the current prices in order to get a realistic idea of the amount to be budgeted for. By working with Almondia, Julia and Sebastian Steinert were able to save themselves a lot of work, time and unpleasant surprises. (We have put together the most important tips for you on how to avoid cost traps when building a house .)
This is how Almondia helps
Almondia knows that when investing such a large sum, many prospective homeowners find it difficult to find the right financing partner. We know what is at stake for you and therefore offer competent and transparent advice as well as a tailor-made solution. First, we clarify the general conditions together and point out hidden costs at an early stage so that the calculated sum is really realistic. With the help of their many years of experience, Almondia’s construction financing consultants will find the best financing offer for you and discuss it with you. The decision as to which offer you ultimately select is of course entirely up to you. The Steinert family recommends working with Almondia: “For us, the issue of construction financing was quickly settled because we could rely completely on Almondia.”