Assessment of feasibility of construction financing

Hello,

as a long-time silent reader, I would like to ask you for an assessment of the feasibility of the following project.

About us:

I (33) employee 2000,- net + 13th monthly salary
My wife (30) employee in the public sector currently part-time 30h 1700,- net + 13th monthly salary
2 children (child benefit 380,-)

Construction project
House 250,000,- (prefabricated house)
Plot 30,000,-
Additional construction costs + incidental purchase costs approx. 40,000,-
Equity 30,000,-

Monthly fixed costs (living expenses, electricity, daycare, car, insurance, mobile, telephone .....) approx. 1500,- without current rent (approx. 1000,-)

Financing requirement 290,000,-

I was thinking of a rate around 1250,- with a repayment rate of 3%
I would take KFW 153 as the house is KfW40.

Thank you very much

should be representable in this constellation. There is not much room for vacation

Yes, it's fine.. but something really luxurious has to pause.

... But definitely not a KfW40 house, @all

House 250000, what does that include? Turnkey? Ready for floor coverings? Shell house?
Why a more expensive prefabricated house?
Garden layout?

It was only about the 290k and the income. Unfortunately, the fact that the price is too "cheap" for a KfW40 including the outdoor facility also comes into play.

Thank you very much for the answers. I would like to cover Christmas and vacation through the 13th monthly salary, vacation is fine with the Baltic Sea or the Mecklenburg Lake District, the children don't care.

Regarding the house, it's just a standardized house without much room for changes and without much "luxury". However, we like the floor plan 100% and the size is very comfortable:

- 150 sqm
- Air-to-water heat pump + ventilation system with heat recovery + underfloor heating
- KfW40 standard
- Expansion variant "FastFertig" (putty work is included, only painting/wallpapering and all non-tiled rooms without flooring, but material is included)

Since the plot comes from the municipality, the incidental purchase costs are very moderate. The plot is also manageable with 450 sqm. For the outdoor areas, I am currently planning paving for the driveway, house entrance, terrace, carport (about 120 sqm) + simple steel fence.