Can I afford to build a single-family house?

Hi everyone,

I want to move back to the village to my parents and wanted to ask for your general opinion on my planned construction of a simple, small single-family house.

Planned single-family house: 8x11m, with basement, solid construction, gable roof, no expensive insulation, no bay window, no attic conversion, no balcony or anything else.

Execution: standard level (no frills)

Subsidies: not included so far by me, since these are usually offset by additional costs for energy efficiency during construction. (at least that’s what you hear and read repeatedly)

Plot: available, level ground, soil looks good and dry based on excavation of the basement on the neighboring plot

Equity: 60,000 + 18,000 building savings contracts

Income:
2,000 euros 1st job (+ 13th salary Christmas bonus)
350 euros 2nd job

Current expenses per month:
280 euros apartment,
50 euros electricity + internet,
80 euros life insurance Allianz,
80 euros for car (fuel, tax, insurance),
18.75 euros legal protection,
200 euros total household

Marital status: single, no children, girlfriend

About me: 34 years old, I have always lived very frugally and treat myself very little.

If further information is needed, please write to me.

Thank you very much and best regards

Birdie

Get yourself a price, maybe something around 220k is possible. The basement is expensive. If you can leave it out, you’ve got 30k in the bag. Enough for a garden shed and so on.

It's getting tight

You need to take out a loan of about 300,000. This will result in a monthly installment of around 1000 euros. Since you live very frugally, that would work. I don't see any problem there for now.

You need to take out a loan of about 300,000. That will result in a monthly installment of around 1000 euros. Since you live very frugally, that would work.

I don’t see a problem there for now.

But that would be 50% of the income. For the bank, only the facts count.

We are probably talking about a house without any frills? Without controlled residential ventilation, without blinds, without roller shutters, without tinted windows, without clay roof tiles, without aluminum front door, without second shower, without lime cement plaster, without without without. With simple 20,- euro tiles, with agglomerate marble window sills, with Ideal Standard toilets, with window rebate ventilators, gas heating... Yes? Something like that? If yes, then it’s possible for 230 with all connections and ancillary costs. - Yes, that’s the case. Karsten