Construction financing for a large family house

And yes, with child benefit

With five children, it is conceivable that some are already grown up, so that the entitlement to child benefit expires long before the loan is paid off. From my point of view, not a big deal, there is also such a thing as salary increases and inflation, but perhaps one should take a quick look at the numbers.

The oldest is now 10, the three youngest are under 5. That will still take a while.

With 1500 per month plus [Wohnriester] of more than 80,000 in 10/12 years, the loan shouldn’t last forever, right?

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With 10sqm rooms, I hope that the house should/has to never be sold. Such small bedrooms/children's rooms simply are no longer built.

With 10 sqm rooms, I hope that the house will never have to be sold. Such small bedrooms/children's rooms simply aren't built anymore..

Well, I hope so too. And if not: there is a house under discussion with 3 very large rooms in the attic that would then be split in half. The respective buyer can then, if necessary, undo the division. We also don't want to live (and heat) in an oversized manner when we are older and the children have left. with Tapatalk

So, we have now reserved a plot of land with 530sqm in a new development area and have an offer for a solidly built city villa with about 200sqm in our considerations. The final calculation is still pending, but the initial estimate should be around 255,000 including the foundation slab plus additional construction costs. The plot with additional costs is around 71,000.

Household income will be around 6800 net again from autumn. The old house has already attracted several interested parties with a price of 260,000 euros, so it can probably be sold securely for 240,000. Thus, we would have about 100,000 euros in equity and can afford a monthly installment of about 1500. Do you think this is feasible?

The bank appointment is next week; I am very curious.

The plan would be, by the way, to first buy the plot and submit the building application, then sell the house with 7 months of right of residence. Is that too naïve? With a guaranteed construction time of 6 months?