Average citizen with 1500 net income

Hello, my question is how much credit I can get for building a house with equity of 15,000 euros and a net income of 1,500 per month. I am married, we have no children yet, and my wife only has a mini-job with 400 euros per month. Sounds promising, doesn’t it? My desired amount would be about 180,000, i.e. prefabricated house about 120,000, land 250 sqm x 200 euros = 50,000; 10,000 notary fees, etc. Does the calculation add up???? Will I get that much money from the bank? What should I pay attention to? Thank you in advance for your contributions.

A) Credit approval always depends heavily on the planned property/location etc. B) A reputable bank will never finance €180,000 with such low income, your loan burden is about €1,000 per month, how are you going to finance that???? C) Plot 250sqm*200sqm, what is that supposed to be!??!?!? D) Your calculation doesn't add up: 1. Additional construction costs 2. Outdoor facilities 3. Furniture/kitchen 4. Development costs on the plot -> these are costs you did not consider and will definitely amount to at least another €30,000-50,000

Household Calculation

A bank, as an example, calculates as follows > 300 per adult ] 150 per child, so for a family 900 euros per month, then you would still have 600 euros > for that there are about 100,000 euros, because the mini-job is a bonus... and for that you only get a very, very small little house without a foundation slab, without land, and without about 30,000 euros additional construction costs.

My advice: STAY AWAY. And when the wife earns fully again, then with 3000 euros income it goes full speed ahead again..

But getting informed and the anticipation is always right

Hello, my question is how much credit can I get for building a house with equity of 15,000 euros and a net income of 1,500 monthly. I am married, we have no children yet, and my wife has only a mini-job of 400 euros monthly. Sounds promising, right? My desired amount would be about 180,000, i.e. prefabricated house about 120,000, land 250 sqm x 200 euro = 50,000; 10,000 notary etc. Does the calculation add up???? Do I get that much money from the bank? What should I pay attention to? Thanks in advance for your contributions

with a total of 1900 euros you should really stay away from it. wait until you earn more. what good is a house to you if you are always chronically broke anyway? although the construction interest rates are currently really very low, with such a small income I don't see a reasonable basis.

I agree with the others... don't take on too much. We also had several bank appointments, Dresdner rejected us immediately?! Then I researched online and found someone who got us a cheap loan. We then split it, a normal loan and KfW for new builders.