Build a house with €240,000? The banker said it will need €300,000

So as equity, there is the building plot + 55-60,000€ that we want to contribute. Including a reserve of about 20,000€ in case something happens. We have a new kitchen that should only be expanded, that should be done with a max of 5,000€.

Your equity is actually quite good in relation to the value of the property

We both have a permanent job with about 2800€/month combined. (lowest salary without night shifts and overtime and 13th salary)

That, on the other hand, I don’t find very impressive. I always thought salaries in Bavaria were by far better.

and if children are on the way, my wife wants to go back to work after 1/2 a year so as not to "fall out".

I find that statement bold, unless you have grandparents who don’t work right next door. Our little one is now 3 months old. When I think that he should be dropped off in 3 months. We want to stretch the 14 months just like that. After that, the little one has to go to the daycare nursery. But 6 months and 14 months are already a huge difference.

I always thought we were "well in the race" with "that," but apparently I was terribly mistaken... :-(

You just have to adjust the house to the budget, then it should work out for you with a small house. Leave out the basement, make the solid garage into a prefabricated garage/carport and reduce the area by 10m² and then your calculation will work.

Yes, unfortunately it is still the case today that professions in healthcare are very poorly paid, but since my wife's heart is attached to it, it will probably stay that way.

Fortunately, we have the option of two grandmothers nearby and my sister-in-law is already waiting to babysit.

I think many people have to go back to work after wanting children, because money doesn't just fall from the sky. But it's all a matter of organization...

Yes, I think we will probably have to take it a bit easier in our planning, but since we are still at the very beginning, I hope that we will still get our own place.

Hello

I can only agree. Equity is great, income is poor.... In your place, I wouldn’t want to reduce the loan budget either. Especially since a lot of reliance is placed on many grandmas & grandpas. What if they fail after all? The daycare is expensive.

But I don’t want to take away your dream.

Yes, unfortunately it is still the case today that jobs in the healthcare sector are very poorly paid, but since my wife's heart is attached to it, it will probably stay that way.

It doesn't have to be a change of industry right away, but have you ever thought about changing employers? From what I hear, newly hired specialists often receive the same or even higher salary than employees who have been working in the same company for years. Of course, this does not align well with building a house, since no loans are approved during the probation period.

Hello,

Thankfully we have the option of two grandmas nearby and my sister-in-law is already waiting to babysit.

I think many people have to go back to work after wanting children, since money doesn’t just fall from the sky. But it’s all a matter of organization...

I realize with horror that in this matter I am apparently more than old-fashioned. I don’t bring children into the world only to hand them over to others soon after cutting the umbilical cord. At least the first year should be arranged so that one parent takes care of the child.

Yes, I think we’ll have to scale back a bit in our planning, but since we’re still at the very beginning, I hope we’ll still get our own four walls.

Give up the basement for storage - there is nothing more expensive than digging into the ground! Only to find out in the end that boxes and decorations will be stored there... because the party room will soon become obsolete, since the party responsible for cleaning the house will rebel. After all, dirt doesn’t clean itself and the garden is the better party spot anyway.

This also reduces the monthly repayment - although in this low-interest phase I either recommend higher amortization or special repayments - and it creates more leeway for loving care of the little ones.

Greetings from the Rhineland

Chin up, just like others write, you simply have to adjust your wishes a bit.. It will be fine. The basement is more storage space than anything else and often a carport is enough for the cars. You still have enough space on the property to build a shelter for bicycles and lawnmowers (and that will surely be cheaper than a garage). You also want to live with the house, so better to keep your expectations a bit smaller.... Best regards