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

In the best case, I come to 380k - 418k and you have to want the 110%....

Wanting and above all getting. These "guideline values" still come from times when money flowed much more freely. Banks have become more restrictive, which means above all - you have to bring equity. The plot is very cheap compared to the house. Then the question arises again whether the bank will even finance an expensive house there.

As for the 30% - the simple rule is that up to one third for housing is financially healthy, including additional costs. This threshold can be exceeded with high incomes, but that is not the case here. This results in a maximum rate of around 1000€ - 1100€. You are young and theoretically have 40 years. But unfortunately not the money to go all out with fixed repayment for 20 years as would be necessary - 3% and more. Roughly your data - project sum 506,000€ (including land) - at 400,000€. Then with luck you could manage 15, maybe 20 years at 2% repayment. After 20 years, not quite half will be repaid. But that means you need to bring 50,000€ more equity.

Have you ever looked for existing houses? They are still cheaper than new builds.

Yes, constantly … availability unfortunately zero, as houses here in the countryside usually get snapped up under the table before they even come on the market … And we looked at one about two years ago … 1970s with significant investment backlog and huge need for renovation … it went for 210,000 euros … without additional costs like notary and land transfer tax …

As long as you don't include the child benefit in the financing, there is no reason to argue over 25 euros for diaper costs when you receive 219 euros. Anyway. Make the house smaller. Build in a buffer (which will be needed anyway) and assume that every euro will flow into the house in the next 2-5 years.

You would really be surprised at what diapers can cost for a newborn if they can't tolerate Babydream and Babylove (cheap brands from DM/Rossmann). Then it has to be Lillydoo. Believe me, 100 euros a month disappear that quickly. We also get a lot second-hand, but especially the Aldi/Lidl offers for children's stuff are unbeatable. You end up grabbing those now and then and it adds up terribly. And daycare (until recently 700€ for us), sports (our son did martial arts from 2 1/2 years old), and especially outings cost a lot of money. If you don't have that on your radar, you have to sadly cancel on the kids, because just a zoo visit for 4 people costs over 50€. Have I mentioned the children's birthday parties? :rolleyes: my kids have too many friends o_O The child benefit is then just a drop in the bucket.

Whether anything actually remains of the increase in net income As the child gets older, expenses usually rise too :) At least that's what I see with us ... :rolleyes: :oops: :D

Yes, we expected that too. School books etc., clothing gets more expensive, wishes and hobbies – but from 2022 our daycare fee will be waived, that’s another 300€. And the net income does differ a bit more when going from 20 to 40 hours in an IT job. :) LG

You would really be surprised how much diapers can cost for a newborn if their bottom doesn’t tolerate Babydream and Babylove (cheap brands from DM/Rossmann). Then it has to be Lillydoo. Believe me, 100 euros a month go away that fast. We also buy a lot used, but especially Aldi/Lidl offers for kids’ stuff are unbeatable. Then you just grab it sometimes and it really adds up. And daycare (with us until recently still 700€), sports (our son started martial arts at 2 1/2) and especially outings really cost a lot of money. If you don’t keep that in mind, you have to sadly say no to the kids because just a zoo visit for four people costs over 50€. Did I already mention the children’s birthday parties? :rolleyes: my kids have too many friends o_O Child benefits are just a drop in the bucket there.

We were talking about diapers. In the worst case, diapers don’t cost 25 euros but 40-50 euros. A driver’s license also costs money and the child that doesn’t exist yet might want to get married in 27 years;) But since the OP doesn’t have a child yet, we are probably talking about one child in the next 2-4 years and the cost of diapers. By the time daycare starts, the OP will have 300-500 euros more in their wallet, and by the time of martial arts 1,000.

Of course, the house project needs to be cut down, but please don’t exaggerate with things that will come in 10 years. My salary has increased from 42,000 at the start of my career 6 years ago to 80,000. He is also starting over due to the change in profession. My tip continues to be: calculate honestly, cut back, know that money will flow into the house in the next 5 years, and when it looks doable, just do it.