Can we afford this/have we calculated all the costs?

My partner and I are currently planning to build a house through a developer who is also providing the land. I'll start with the "can we afford this" question. We are both employed in the public sector. One as a salaried employee and she as a civil servant for life. Together we have about €4500 net monthly income. A car is currently still being paid off with an installment of €153. Otherwise, there are no obligations. We have equity of €75,000 available. About €10,000 in the form of savings books and small home savings contracts we would like to keep as savings for unexpected expenses (car repairs, etc.). We plan to build a single-family house with 134 sqm on a 529 sqm plot. The house is to be delivered turnkey (without floor coverings and wall work). Our partner from Oldenburg has been around for 30 years and makes a serious impression on us. Land cost: €101,560 House cost: €152,000 Special requests: €19,200 Additional construction costs: €20,000 Tax and notary: €17,900 Kitchen: €10,000 We are now thinking about whether this all fits together. We also plan to have children in the next 2-3 years. We already have an appointment with [Bauherren-Schutzbund]. We want to get a building expert through them for about €2500 who will accompany us the whole time. I would be very grateful for any kind of tips.

Hello

I cannot say anything about the construction costs. However, they seem very low for this size. I will try a higher calculation here:

Construction costs incl. kitchen / notary: €400,000 / equity €70,000 = €330,000 loan

Assuming you choose at least 15 years fixed interest rate and a conservative interest rate of 4% + 2% repayment, which most banks currently require, we have an annuity of €1,650 per month. Usual additional costs (electricity, heating, reserves, etc.) come on top of this. The total term here would be 30 years.

When you have children, your income decreases (childcare, part-time wife). Then you have to decide how tight it is. Currently, a bank is checking the current situation. Solvency is given there.

I would advise you:

- To include Kfw / Labo loans if they make sense regarding interest & program.
- To include special repayment rights
- Long fixed interest period, 15-20 years
- An interest-free availability period of at least 12 months
- Inquiries at house bank & broker

Good luck!

... part-time woman

Offtopic: or man. ;)

Hello,

Costs house: 152,000 €

What is covered by this price? Single-family house according to the Energy Saving Ordinance or KfW 70 efficiency house or even lower?

Rhenish greetings

Hello, What is covered by this price? Single-family house according to the Energy Saving Ordinance or KfW 70 efficiency house or even lower? Rhineland regards

The house costs €152,000 gross. The surcharge for the KfW 70 standard is included in the special requests.

the house costs a gross 152,000 €. The surcharge for KFW 70 standard is included in the special requests.

in life it doesn't fit.... about 1000 per sqm?

no... it doesn't work!