Construction financing amount?!?

Hello, I am also new here in the forum. I have the following situation:

I am 28 - net income: €2500
My wife is 24 - net income: €1000

Of course, we also plan to have children eventually, so the €1000 will sooner or later disappear. Our current equity is about €40000.

What would be a realistic construction loan amount?

Thank you very much for your answers and assessments.

That depends on the purchase price of the house, the repayment, etc. You first need a property and then you can start calculating.

Oh, I thought maybe someone could tell me what I can actually afford. So that I don’t dream in vain beforehand, but know exactly how much money I can get at most.

Hello Mufasa20,

so that the monthly financing of your own property does not later lead to significant cuts in your standard of living, the monthly installment for your financing should roughly correspond to the amount of your current rent burden (!Kaltmiete).

You need to calculate the amount you can finance based on this.

Then add your equity and you will roughly know the amount you can spend on your property without having to fear drastic changes in your previous standard of living.

Best regards

M. Thiemann