Since we recently bought a new house, I spent some time to be able to calculate the best construction for our house credit / loan / mortgage. I tried to list all costs in an Excel sheet, combined with our earnings, to get a clear global picture on what we will have to pay. Based on these calculations, I extracted an Excel template that could be used by anyone. The costs taken into account are quite specific for Belgium (Flanders) and for our case but I suppose the sheet could be used as a start for others (let me know if this is the case)…
When using this template, some data will have to be filled in, before the calculated results will be meaningful. The fields that can be filled in/changed/selected manually, are marked in the following style:
The most important fields to fill in at start are: price, cadastral income, savings, average pay, average outlay, interest rate of the banks, etc within the ‘kosten’ sheet. Within the ‘interesten’ sheet only at the top some fields should be filled up to denote how you would like to calculate a split loan (to benefit most of the fiscal revenue). Again the same format style is used to denote these fields should be filled in. The other fields are locked on the sheet (although they can easily be unlocked without a password).
Once the basic numbers are filled in, one can start to play with the list boxes to easily compare different constructions (split loan, fixed capital payment, years, banks, etc). One can now change the control to show how much will have to be paid and gained in the selected year. This way, you can easily check if you will be able to pay all costs and still save some money.
The site rentevoet.be has also made a nice excel to calculate different loan payments, besides some other calculators.
Some interesting links I used to make all calculations:
- renteopdevoet.be
- Berekening hypotheeklening
- Fiscale voordelen van de woonlening
- Verzekering gewaarborgd wonen
- Simulator woonkrediet
- Tips om te besparen op woonkrediet
- Fiscale wetgeving
- FAQ Federale Belastingsadministratie: Woning kopen
- Bereken fiscaal optimale lening
- Hoeveel kost mijn huis: rekenmodules
- DefA’s woonkrediet rekenmodule
- 10 beginnersfouten bij het kopen van een huis
Update 08/10/09: extra info link
Update 05/01/10: new template download link
Update 03/12/10: link to renteopdevoet.be
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