Assessing the affordability of home construction and criticism

Man, thank you very much for your input.
First of all, a few answers:

1) I feel uncertain, otherwise I wouldn’t be asking the question here

2) The property is located in the 25-minute commuter belt of Rostock between two rivers in a small town of 5,000 inhabitants (Schwaan). So not exactly in the middle of nowhere. But it was obtained at a reasonable price through the state funding for urban development. Market price is about 20-30% higher.

3) You clearly point out that initially having more equity simply makes more sense also for peace of mind. I definitely take that into consideration. At the same time, sometimes you have to take a risk in life. Thirty years ago (when my parents built their house) it was just as much a critical undertaking and the builders were often too young. And it still somehow worked out.

4 and last) Conditions will never be perfect in life. If I wait for that, it will never happen. Of course, I would only start the loan and the house AFTER the probation period ends. Currently, it’s just the information. Besides, I grew up in a house and it has always been my motivation to get a decent job with a decent salary for that purpose. Renting long term is not an option. Completely out of the question.

Man, thanks a lot for your input.
First of all, a few answers:

1) I feel uncertain, otherwise I wouldn’t be asking the question here

2) The property is located in the 25-minute commuter belt of Rostock between two rivers in a small town of 5,000 inhabitants (Schwaan). So not exactly in the middle of nowhere. But got it at a reasonable price through state funding for urban development. Market price about 20-30% higher.

3) You’re clearly pointing out that initially more equity simply makes more sense also for peace of mind. I definitely take that into account. At the same time, sometimes you have to take risks in life. Thirty years ago (when my parents built) it was just as critical an undertaking and the builders were often too young. And it still somehow worked out.

4 and lastly) Conditions will never be completely perfect in life. If I wait for that, it will never happen. Naturally, I would only tackle the loan and the house AFTER the probation period ends. Currently just gathering information. Also, I grew up in a house and it has always been my motivation to get a decent job with a decent salary because of that. Renting long-term is not an alternative. Out of the question.

You’re not really comparing construction from 30 years ago with today, are you?

You’re not really comparing building from 30 years ago with today, are you? In the end, it’s your decision and your money. It can work out, but the risk of failure is quite high. I’m keeping my fingers crossed for you. When I moved in with my wife (10 years ago), she, like me, was also not from Germany and I had a permanent contract. Building was never an option until she also had a permanent contract. She’s had that as a teacher for 3 years now, and now it can get started.

What is different today regarding the repayment of loans? They have to be serviced. As I have mentioned several times, some young people today believe that everything was better and easier in the past.