2023-10-01 22:01:00
Indeed, it is essential to have savings to buy a house or apartment. If banks and other financial institutions provide support by granting credits (mortgages), the fact remains that these are generally limited to 80% of the amount of the purchase or construction. The personal contribution requested from the buyer therefore represents 20% of the amount.
Invest and save taxes
The 3a account is an excellent way to save for the purchase of a house. Payments into pillar 3a are tax deductible. Banks and insurance companies offer suitable products, often in combination with securities investments. Saving within the framework of insurance has the advantage that, thanks to the release of premium payments, the savings process is maintained even in the event of the insured person’s earning incapacity.
Pension fund money
When buying a house, part of the equity can come from occupational pension funds (pension fund). However, capital requirements, lock-up period and taxes must be taken into account:
the equity cannot come entirely from the pension fund: at least 10% of the purchase price must be provided in the form of so-called “hard” equity. This may include money deposited in the savings account, pillar 3a assets, or even an inheritance advance or donations. Anyone who voluntarily contributes to the pension fund can withdraw money for the purchase of a house or apartment at the earliest after a blocking period of three years. Withdrawals from the pension fund are taxable.
Generally speaking, the decision to finance with pension fund assets must be carefully considered, because a withdrawal reduces the retirement pension. In such cases, it is better to discuss it with your specialist.
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