Assessment of Financing New Construction 425k € / Overall Financial Situation

The difference between the bank giving me a loan and the financing being healthy and not causing any headaches is worlds apart. I think we could have financed something around 800k. But that doesn't mean I would sleep well with it.

Initial rather rough discussions are usually very superficial.

As soon as it gets down to the nitty-gritty, it looks different again.

We signed our financing last week, have more income, significantly less loan amount, completed child planning, and still had to prove every little detail.

We only declared painting and flooring as our own contribution and estimated them at around 10k. The bank (ING) already wanted these 10k proven as equity, and for all other things (outdoor facilities, extra electrical costs, etc.) we were also supposed to present the offers.

For example, I don't know how it is supposed to work if you plan a lot of own contributions.

I am an advocate of practical calculation: Maximum monthly rate = current savings rate + current cold rent minus 200€ for higher additional costs. (In this case, however, the desire to have children must still be taken into account, and the repayment should not be below 2.5%.)

First rather rough conversations are usually very superficial. As soon as it gets down to the nitty-gritty, it's different again. We signed our financing last week, have more income, significantly less loan amount, finished family planning, and still had to prove every little thing. We only declared painting and flooring as own work and estimated it at about 10k. The bank (ING) already wanted these 10k proven as equity and for all other things (outdoor facilities, additional electrical costs, etc.) we also had to present the offers. I don’t know, for example, how that is supposed to work if you plan a lot of own work.

But this is already legally required to provide appropriate proof. To my knowledge, it does not matter how high the loan amount and income are.

Hot tip: First, just touch child No. 1.
...

Is that a cake? :D
Just imagine if it suddenly becomes triplets :eek:

Thank you for the feedback. Would it actually be okay if I posted my Excel cost calculation for monthly expenses here? I would like to know what I have wrongly assumed or possibly overlooked ...