Assessment: Financing Single-family House

Hello *,

this is my first post in this forum, so please excuse any mistakes

Income
Salary 1: 4250 € net
Salary 2: 600 € net (parental allowance), probably 900 € net after one year (part-time work)
Side job: 450 € net
Child benefit: 204 €
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5054 € net (I have not included the 450 euros from the side job)

Expenses
Rent: 400 €
Living expenses: 500 €
Insurance: 210 €
Car leasing: 420 €
Fuel: 200 €
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1730 € expenses

Equity
approx. 80,000 €

Estimated construction costs (including land)
450,000 €

At the moment we save just under 3200 euros per month.

Is our income sufficient for banks to provide, for example, financing of 350,000 euros? I would like to get in touch with them soon and am grateful for any tips.

Regards,
ameise1234

Is our income sufficient for banks to, for example, provide financing amounting to 350,000 euros?

Yes!

Yes!

Also for higher construction costs.

The cost side is nonsense.
Living expenses 500€ for 3 people... maybe in Thailand.
Apart from that, your income is good enough for the financing, but you can deduct the parental allowance, it’s not sustainable.

nice that you know our cost of living

But thanks to everyone for the feedback.

nice that you know our living costs

The bank doesn't care what you actually need, they have their standard rates. They create a fictional household calculation and then decide whether everything can be paid with the available income. Your own calculation can look different, and you must also check whether the installment and additional house costs fit for you, with your financial habits.

Your listing is very "tight", I have many more items in my budget plan. The everyday expenses (canteen, gifts for the children's birthday, sometimes doing something with the kids, clothes, hairdresser, shopping...) would correspond to living costs for me. In addition: hobbies (children's, mine), kids' meals in daycare/school, possibly childcare costs, telecommunication,... what about vacation? Reserves for replacement of devices, furniture, etc?

But I think you're in a good position and can manage the project.