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

We currently have a loan of 470k (-18k Kfw) House, ancillary costs, and double garage were planned with 450k. We will manage that. However, apart from the shell, plaster, and screed, we have done a lot ourselves. In addition, our parents are responsible for plumbing/electrical work and are gifting us not only their labor but also the materials. Furthermore, the VAT reduction has saved us around 6000€. We also have 15k equity for kitchen, furniture, and at least 20k from the loan for the terrace, front entrance, driveway, garden... Outdoor facilities can wait. So without the "children planning" aspect, we would have no worries at all, but the factor of children is very difficult for us to estimate.

Thanks for the explanation, but when I relate income to the loan amount and compare, for you, when the general verdict for me was "just don't do it," it's at least ambitious, right?

Fingers crossed that everything continues to go according to your plans :)

I would really be happy if someone could maybe give their assessment of whether the idea of removing the upper floor and putting sleeping / bathroom areas in the basement or cellar is practicable and livable from your perspective. Maybe someone has even built like that themselves or has experience with it. Thanks to you all :)

I gave you the tip to read up on the numerous discussions. And yes: we may not have mountains here, but still there are some hillside properties where the pearls stand. Back then, when there were no model houses, prefabricated houses, or GUS, architects planned, and they did so WITH the property. And if you leave the uniform new development areas behind and go into the old areas, including villa districts, you see quite a bit that is actually architecture and that there is more than just square thinking in your head. You just have to deviate from your path in your surroundings and open your eyes. Then you will also see that a hillside is not only good for garages. And certainly not a south-facing slope – that is like throwing pearls before swine. There are certainly also picture books, e.g. from Dumont (I can imagine)

I would really be happy if someone could maybe give their assessment of whether the idea of removing the upper floor and placing the bedroom / bathroom in the basement or cellar is feasible and comfortable from your point of view. Maybe someone has even built like that themselves or has experience with it. Thank you all :)