Construction project realistic? Assessments

We had planned 20 for the outdoor area, but in the end, with quite a bit of EL and negotiating, it was unfortunately over 50 in total. Just as an example. At the moment, prices are going crazy.

We also had 12,000 just for materials for the outdoor facilities alone, including some rental equipment. Everything was done in EL. 2 small terraces, 30m hedge, 70m² driveway, splash guard strip, leveling and seeding the garden, and rainwater drainage. It is the small things that also cost an incredible amount of money on the side. Example: rain drainage channels between the yard and the street (legally required in our area) and channels in front of the two terrace doors alone cost about 1,500 for materials.

Facts:
Property value approx. €100,000
Apartment value today minus outstanding debts approx. €100,000
Income €3,150 + child benefit = approx. €3,350
Desired house 150m² on developed land without a basement = approx. €400,000.

So only €300,000 needs to be financed, with a house value of €500,000.
If you opt for a 15-year fixed interest rate, 4% repayment, that results in an interest rate of 0.71% and a payment of €1,172.50 with an outstanding balance of €110,000 after 15 years. The first years might be a bit challenging, but as soon as you earn some income again, it is completely manageable. If the parents can gift land, they can surely also help out with a euro or two in particularly difficult times.

Do it? Yes.

P.S. It is possible that your husband is not actually afraid of the financing, but of the idea of living next to his parents-in-law. Justified? Probably.

We also had 12,000 just for materials for the outdoor facilities alone, including some rental equipment. Everything was done in EL.
2 small terraces, 30m hedge, 70m² driveway, splash guard strip, leveling and sowing the garden, and rainwater drainage.
It’s the small things alongside that cost an incredible amount of money.
Example: rainwater drainage channels between yard and street (legally required here) and channels in front of the two terrace doors alone cost about 1,500 in materials.

12,000 material is peanuts. We had about 30,000 euros in materials alone.