Are we confused?! Recommendations / Remarks

Hello,

I have been reading this forum for a few weeks now because my wife (26 years) and I (26 years) want to build a house in Brandenburg (inside the A10). It is a new development area where we have already reserved a plot.

Here is a rough list of our calculated costs:
€250,000 140sqm house (turnkey without painting and flooring)
€175,000 land costs (serviced)
€11,375 property transfer tax
€4,375 notary
€25,000 ancillary costs (connection, earthworks, …)
€3,000 materials for painting work (own contribution)
€5,000 materials for flooring (own contribution)
€10,000 kitchen
€10,000 exterior facilities and garden (own contribution)
= approx. €500,000

Our current monthly expenses:
€750 rent warm
€30 electricity
€50 internet + TV
€50 mobile phones
€400 one car (incl. purchase, maintenance, fuel, insurance)
€5 liability insurance (we currently have no other insurances)
€500 food (we often like to eat out)
€300 clothing, cosmetics, and hairdresser
(€400) vacation
No expensive hobbies.
--> approx. €2,500
Children are currently not present and are not planned for now.

Income amounts to €4,700 per month. Both of course permanent (40h).
Equity: €100,000 --- €40,000 of which is in a depot (mostly ETFs).
At least approx. €2,000 are added every month.

We want to choose an interest rate lock of 20 years, with 2.5% amortization (corresponding to €1,200 per month at 1% interest). What is saved besides the house will flow into ETFs. Special repayments at the interest rates actually don’t make sense? If the interest rate is significantly higher after 20 years, the money will be taken from the ETFs to reduce the debt.

Sounds absolutely doable, I thought. But since I often read here that you need at least €100,000 equity and €4k salary is the lower limit, I am now a bit unsettled whether this is not all calculated too optimistically.
Have we possibly overlooked something important?

We are very grateful for any comments!!

Best regards

400k€ loan with 4.7k€ is okay. The expenses are also within limits.

But your calculation is improvable.
There is no buffer, something will also be missing for the house, no budget for carport or garage, upgrade is missing, surveying, construction ground report/ disposal site report, etc.

Why is the property tax so high, it normally only refers to the bare land price without development costs? Is this due to the rate in your area?

Add another 30k€ buffer (so you sleep well), then it fits at least without carport/garage. If you handle the budget sparingly, it will then also be enough for a carport.

I see no reason for uncertainty. Something will always happen, that's called life. Buffers are usually needed, no matter how large you make them. That is also a question of attitude.

Well, you have a good savings rate. However, this will be reduced after buying a house or especially when children come. The insurances alone are inadequate. RLV, BU, etc. are all missing.

Special repayments on interest rates don't really make sense, do they? 1% = net return, roughly 1.28% gross. At least in the short term, this can't be achieved with secure savings deposits. Therefore, for someone with low risk tolerance, it is certainly an option.

400k€ loan with 4.7k€ is okay. The expenses are also within limits.

But your calculation can be improved.
No buffer, something will also be missing for the house, no budget for carport or garage, finishing touches missing, survey, soil report/deposit report, etc.

Why is the property tax so high? It usually only refers to the bare land price without development costs. Is that because of your rate?

Add another 30k€ buffer (so you can sleep well), then it fits at least without carport/garage. If you handle the budget carefully, it will also be enough for a carport.

Thanks first of all.
Finishing touches amounting to 10k are already included in the house price.
We initially did not want to include the carport in the financing. We are not sure yet what we want here.
Survey, soil report, etc. are included in the 25,000€ ancillary costs.

The info about the property tax was not known to us at all. We thought we had to pay the real estate transfer tax on the full land price. Thanks for the info!