The term of your home loan depends on various factors such as the amount of the monthly installment, the loan amount, and any special repayments. However, you can choose the fixed interest period yourself. Since the beginning of 2022, interest rates had risen steadily, but we have been seeing interest rate cuts again for several months now. Dr. Klein, my partner for real estate financing, expects a sideways movement in the first half of 2025. Therefore, I recommend a shorter fixed interest rate at this point in time.
You can find the Dr. Klein construction loan calculator on my website under Financing. Here you can calculate daily construction loan rates, monthly installments, and total costs.