Building a house financially feasible or a pipe dream?

House, naked without floors and wallpapers. Without lamps, without kitchen.

I agree.

700000 is too much... from the feeling.

Now you might advise: just go for Plan B and buy a used house.
But you already have that [emoji4]
A friend who is an architect is also available... would an extension be allowed according to the development plan? Feasible? Is there space to add something bungalow-like there?

Regards, Yvonne

No - building on more area is not possible. The extension would be added on top of the existing extension on the ground floor - which is also permitted.

What number would you throw into the room, Yvonne?

150 sqm x 1800
270000
80 sqm x 1800
150000

-> 420000 for living
Additional construction costs 50000
Outdoor facilities 20000
Possibly prefabricated garage 10000
Painting and floors... in EL, 15000 by craftsmen 25000

Then you are at 525000 with me plus land costs. I am not good at estimating and would be glad if others confirm me or come to similar conclusions, since I cannot assess the regions well.

But I would also first go to a financial advisor and a bank to see what they would give you.
They are interested in the facts, which income you have and what living expenses occur.

Then you have an overview from a professional.

Then you can continue to build your castle in the air or pursue other plans, e.g. adding a storey.
Maybe you can create something really great with your existing property with just a few breakthroughs and new walls?!

Finding a plot of land is not exactly easy either...

I have read through your first post again. Budget-wise, Option 2 would really be interesting, wouldn’t it? At least it would be a way to land at 300,000€ in total (new and old loan), making it comfortable to repay and to have no worries in at most 20 years.

Talk to your bank. We have a similar situation (also Saarland by the way). We do not pay any VFE, but rather take over the loan from the old house to the new one through an interim financing via object change. However, the amount would probably be too high in relation to the income for me. Just a feeling.