muscle mortgages
A muscle mortgage has some advantages for those who decide to build a house. As “Das Haus” explains, muscle mortgages are understood to mean those costs that can be saved by contributing personal contributions to building a house. And this not only saves the parties concerned costs for craftsmen, for example. In certain cases, as Schwäbisch Hall notes, not only can a lower financing sum be achieved with the help of personal contributions, the equity capital required for the loan can also be reduced as a result. The more you can do yourself when building a house, the more you can save in these areas.
So much money can be saved
With the help of an example, “Das Haus” illustrates how lucrative it really is to bring in your own work. The example concerns a terraced house with a basement with three floors and 140 square meters of living space and with construction costs of 253,482 euros. A total of eight types of personal work are listed together with the hours required and the cost savings: Drywall with thermal insulation of the roof areas, use window sills (inside), lay tiles and slabs, set room doors, painting and varnishing work, installing floor coverings, wallpapering and work on the outdoor area . The most time-consuming personal contribution is drywall construction with thermal insulation of the roof surfaces. With a total of 102 hours of time, 4,085 euros can be saved here. Inserting the window sills in the inner area is the least time-consuming. With a time investment of only three hours, 124 euros are saved. In total, a saving of 18,867 euros can be achieved with a time investment of 476 hours.
However, one should also be aware of certain risks in advance, as the financial sales Dr. Small guesses. For example, if you overestimate yourself, you run the risk of not completing your work satisfactorily or on time. You should also find out exactly about all the materials that are used if you are not familiar with them. In addition, the builder should ensure that he is insured in the event of property damage or personal injury. According to Dr. Small, recommended.
These things should be left to professionals
However, there are also some tasks that should be left to the professionals. This includes, above all, work that requires certain specialist knowledge. According to Schwäbisch Hall, all work to do with electricity, gas and water should be left to the experts, since improper handling can lead to life-threatening consequential damage.
Anyone who draws up a precise plan of which work is to be carried out at what time by specialists or by doing it yourself can save money through good planning and the various advantages of doing it yourself.
E. Schmal / Editor finanzen.net
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