Buy an existing single-family house with a large plot and renovate it

Definitely, even 3333 per month is too high. There is not much left for vacations, a more comfortable car, etc. Children generally become more expensive as they get older, so we had imagined a repayment of 2600-2800. The sticking point is the renovation costs. At 2000€ per sqm, that is definitely too much for us. Currently, we live in a terraced house with accordingly smaller rooms, a small garden, and a garage not directly at the house. Basically, we feel comfortable, but with 3 children, a detached, larger house would of course be much more comfortable.

The children will be gone again eventually. :)

Whereby one then also tends to no longer need 250sqm

I can't say anything about the renovation costs etc. But I think, especially in today's times, it is important to scrutinize the CURRENT and FUTURE status in this questionnaire. Additional costs for the house will most likely be higher than for a terraced house. Even property tax and water consumption will typically increase. Where the electricity price will go.. I would generously round up these costs, including the square meters and politics. The saving rate for the car of €175 is low. A new used small car will only be paid off in 10 years, and a family car cannot be leased with this rate either. In my opinion, the insurances regarding pension, building, liability etc. are quite low at €65/month. Also check here whether everything is actually included. Household insurance quickly increases when the square meters rise and the five bicycles become more expensive. The hobby/gift position of €100 is also quickly used up when everyone starts sports club activities... How old are the three children? On the other hand, I find €50,000 just for furniture (€20,000 for the kitchen) quite exaggerated...

I think you made a calculation error with the facade area (1000m2). Unless it is a very long and very narrow building ;)

Good evening,

whether one can cover the modernization costs I leave to others who are more familiar with it ;)

I am more responsible for the financing!

800,000€ with 7,000€ income is too much... with current interest rates + the minimum repayment rates of the banks (at least 2% very often, or more) + the fact that they often calculate more in the background for debt service, it is likely to be a tight squeeze. You probably also don’t want to have 40-50% of your income as a monthly burden here, excluding additional costs (which quickly add up to a few hundred EUR per month given the size).

Therefore, rather make a plan of what must be done immediately, what can be done later? Because then: instead of 10 years KFW, better finance over 20 years through a bank. Choose the KfW as a "grant" Use the money from KfW later for the rest.

You are unfortunately one year too late, the interest rates are currently breaking your (financial) neck. Such houses are therefore unsellable at these amounts / interest rates.