Construction Financing Options - Experiences / Recommendations

With 60% equity, I can't imagine a bank would refuse. But ultimately, only the banks can answer that.
Is the property already fully paid off? Then there should definitely be enough collateral.

Ok. Yes, but it wouldn't be totally out of the question that at times only one full income is available? The problem is, if we decide to take that route and initiate the sale, and in the end we have the additional equity but no loan, we have a problem.

Yes, the €230,000 has already been paid from own funds without bank involvement.

Ok. Yes, but it wouldn't be completely far-fetched that only one full income is available at times? The problem is, if we decide to go this way and initiate the sale, in the end we have the additional equity but didn't get a loan, we have a problem.

What does a "small" financing cost you? With the same term, you are at just under €1,200 per month. Since only you know your income, only you can say if it fits. However, it is not expensive....

How much does a "small" financing cost you? With the same term, you are looking at just under €1,200 per month.
Since only you know your income, only you can say whether it fits. However, it is not expensive....

We had hoped with option 2 to pay down at a lower rate (2%) for the first 5 years (exactly the time I will still be at home), and then increase to 4% afterwards. If the baufi24 calculator is not completely off from reality, this would mean about €650 per month including interest and principal in the first 5 years. From the 6th year on, then just under €1,050 including interest and principal. Assuming one gets the interest rate of 1.12% as baufi24 says and the bank even offers such a low initial repayment rate and change after 5 years?

We have calculated the following costs. Unfortunately, we have not kept a household budget so far and some costs such as daycare will only arise in the future for our daughter who will only start daycare next year. Therefore, we are not quite sure whether we are calculating too much or too little, since we do not really save everywhere but also do not live extravagantly.

a. Living expenses
	per week	per month	per year
Food 1	€39.95	€159.80	€1,917.60
Drinks	€22.00	€88.00	€1,056.00
Cosmetics, household	€25.00	€100.00	€1,200.00
Food 2	€70.00	€280.00	€3,360.00
Company cafeteria	€20.00	€80.00	€960.00
Total	€176.95	€707.80	€8,493.60
b. Car/Mobility
Car insurance	€5.36	€37.50	€450.00
Leasing	€36.55	€255.85	€3,070.20
Fuel	€16.00	€112.00	€1,344.00
Total	€57.91	€405.35	€4,864.20
c. Miscellaneous
Television	€4.28	€29.95	€359.40
Electricity	€10.00	€70.00	€840.00
Internet telephone	€5.71	€40.00	€480.00
Vacation	€64.29	€450.00	€5,400.00
Other programs	€42.86	€300.00	€3,600.00
Daycare	€46.29	€324.00	€3,888.00
House ancillary costs	€78.57	€550.00	€6,600.00
Loan	€70.00	€650.00	€5,880.00
Clothes & co.	€75.00	€300.00	€3,600.00
Total	€364.85	€2,553.95	€30,647.40
Grand total	€599.71	€4,357.95	€50,375.40

Assuming I would not work, my husband already does and we really put all equity into the loan. Then we have just as much income as expenses. Therefore, I do not know what the position of many bankers is. Despite the massive equity ratio?

Since these are 2 life decisions (homeownership & sale of the company), I think no one can take that away.

For the former, we obviously already decided before purchasing the property.

As I said, I only mentioned the circumstances to better clarify the situation, because otherwise there probably would have been some questions about the why and how. You don’t have to decide for us what we do. But it would be nice if, based on the above-mentioned figures from us and the other facts, you could assess whether option 2 would also work with the "smaller" loan and the changed income structure.

From the 6th year then just under €1050 including interest and repayment

With your construct, you won’t get a 20-year term. With the installment, it takes a lot longer.
I also calculated with approx. 1.1% interest and come to just under €1,200 with consistently high repayment.

Assuming I wouldn’t work, my husband would, and we really put all equity into the loan. Then we have just as much income as expenses. So I don’t know what the position of many bankers is on that. Despite the massive equity ratio?

Compared to the bank’s approach, you have very high living costs. There is a lot of potential here (additional costs for the house are actually significantly lower, clothes/other programs/vacations are also €12k p.a.). For you, it’s "complaining at an extremely high level."