Construction project realistic? Assessments

You have to read until the end, the 120 TEuro come on top!

In the end, it is 900 per month as full repayment over 15 years. Calculate that up.

That's why we thought that with €250-280k we would be completely finished with the construction

If you do everything that can somehow be done as DIY and don’t have special demands on the house, it's doable with a lot of luck, but since you are talking about a one-year construction period, it's rather unrealistic.
You always underestimate the outdoor facilities "but everything is already there..", no it's not, and those not familiar with construction often misunderstand what fully developed means.
€400k is more realistic and even then you will probably have to make compromises in the end.

As far as I can read here, it is not realistic for us with the house. Actually, €300k is planned for the construction and from that €120k will be deducted as equity, so we wanted to finance a maximum of €180k over 15 years with a maximum repayment of €1000 per month and an additional special repayment per year, which is then supposed to cover the interest incurred.

You have been given a plot of land, and additionally good equity. Excellent starting conditions that lead to really favorable terms.

You can afford higher prices.
What really doesn’t work is the idea of being debt-free in 15 years. Plan for 25 years and it fits.

Why finance only 180 thousand euros? You can afford more, for example 300 thousand euros. Then the project will also work.

Why finance only 180,000 euros? You can afford more, for example 300,000 euros. Then the project will also work.

If you start financing at 40 and still have 2 children, unfortunately you cannot finance for that long. We also want to do things with the children and go on vacation. Eventually, two cars need to be replaced, and so on. When children grow up or study, they might also need financial support from their parents. Unfortunately, we might be too late there. Well, we have consulted banks and construction companies and still have enough time to calmly think about everything. We look at the new development areas where mostly young families with children live and keep asking ourselves how they can afford it if nowadays almost 200,000 euros of equity including land is already too little to make building somewhat affordable. Or is the whole life up to retirement only lived and worked for the house without being able to afford much else? Kind of sad but apparently has become reality nowadays.