You want to buy a property? A great idea. We have collected the 10 best credit tips for you. So if you think that the time has come for your first apartment or your own house, then you're in the right place. With these 10 pieces of advice you will always be one step ahead in the search for the perfect loan.
1. Do your homework – with a budget calculation
The word "homework" might make you gulp at first, but this homework is definitely worth the effort. Because with a budget calculation, you not only learn something, but in the best case, you can also save money. In a budget calculation, you simply add up all the income and then subtract all the expenses. So you see how much money you have left in the month and what margin you have for a loan. And the positive side effect of this super simple credit tip: You finally see at a glance what you really spend your money on and certainly find one or the other point where you can save.
2. Understand the basics of credit
If you are looking for credit tips, you may have just started to look at credit and buying a house. You should therefore in any case also know the basics of loans. Because: Credit is not equal to credit. There are even many different types of loans, which differ, for example, in the term, repayment options and interest rates. It can not hurt to acquire a certain basic knowledge here to understand in case of emergency also, what your financing expert is talking about.
3. Find out about your credit score
Your credit score or creditworthiness is simply your projected ability to pay a loan. If you want to have a credit at your house bank – or at another credit institution -, it will check your creditworthiness therefore on the basis of some parameters. But why should not you do it yourself? After all, it can't hurt to be in the know. In Austria, the Kreditschutzverband (KSV) provides information about your creditworthiness. Alternatively, you can also contact an independent advisor on this matter.
4. Get your finances in order
So if you've followed credit tips 1 through 3, now you know how much money you really have, what you're spending it on, what credit is and whether you're currently eligible for credit at all. Super! But if there are still construction sites in your finances, get them in order as soon as possible. Here, too, a professional adviser or consultant can assist you.
5. Not just a good tip when it comes to credit: Be honest with yourself
It's your big dream to own your own apartment or house – and that's fine! But even if you should always work hard to fulfill your dreams, you should also remain realistic. You don't have to live in a mansion or a downtown penthouse right away. To the large housing happiness it usually does not need much.
6. Get support
Here we want to be completely honest right away: This credit tip depends of course strongly on your family and other environment. But maybe you have family and relatives who can help you finance your dream home?
7. Don't just get a credit quote
Usually, the credit decision goes like this: The desire for a home arises, you talk to family and relatives, you check your finances and then go directly to your house bank, where you have been a customer for years. Everything perfect, or? Not quite: your bank may be a good fit when it comes to account management, but especially when it comes to loans, there are countless other providers who may be better suited to the job. So independent advisors often compare loans from over 100 institutions in Austria. And look in the end, of course, better conditions for you out.
8. Create a repayment plan
If you – alone or with the help of experts have found the right loan – you should also deal with the topic of repayment plan in addition. In a nutshell, a repayment plan covers the following topics:
- The term of the loan
- The debit interest rate
- Unscheduled repayments – d.h. additional partial repayments that you agree with your bank and that can help you influence the repayment rate of your loan.
The third point is especially important, as you may want to make a larger repayment at some point. It is therefore advisable to agree in advance what additional costs would be incurred here.
9. Never say never!
If you've taken our credit tips to heart, you may be thinking that a loan might not be right for you right now after all. But if we may give you one more tip along the way: Never say never. Because your disposable income, your credit rating and also your other financial situation, can still change in the future. So if you research your options today, but wait a while to make your decision, you've definitely won!
10. Ask experts for even more loan tips
As you may have discovered, real estate finance can be a very complex subject. However, if you know the basics of loan types, you'll soon feel more comfortable in this area. Of course, it never hurts to get more credit tips. Best of all from experts and advisors, who are occupied for years with Immo financing and know the offers and possibilities at the market very well. For example, if you have a few minutes, you can fill out our online questionnaire and then sign up for a free consultation.