Cost breakdown and financing situation (Bargain plot)

Addition: In which village is that? Is there a bakery there as well? Infrastructure? House construction should be feasible. That can be managed. Note regarding vacation. Italy is close, but expensive.

I completely overlooked the company cars. It remains rather tight, but if 0.5-1 of the 4.5 net doesn't have to go towards cars, you can actually put quite a bit more into the installment. Plus good equity. Go for it. But still build cost-conscious WITHOUT an architect.

Hi everyone,


we were able to increase the equity (150k€) a bit in order to raise about 500k€ more.

Here is the current offer from the bank
Fixed interest rate / Effective annual interest rate (p.a.) 2.03 % / 2.06 %
Loan amount: 506,000 €
Interest rate lock-in period: 20 years
Monthly installment: 1,699.32 €
Commitment interest: 12 months free, from the 13th month 3 % annually
Full payer until retirement with constant interest rates.

To be honest, I did not expect such an installment and 1699€ is not affordable. According to our cost calculation, 1500€ would be affordable.

How do you assess the situation? Contact more banks with the hope of extending the term beyond retirement? We are unsure whether it makes sense to pay off a property well beyond retirement. Not to mention that interest rates will certainly never be below 2% in 40 years...

So I consider €1700 to be affordable, that still leaves you with over €2000 per month to live on after additional costs and the cars are already paid for by the employer. Personally, I even see potential for special repayments if you want to. But lifestyle is always a personal matter.

With your financing, you have 2% interest, 2% repayment, and after 20 years you will have paid back almost exactly half. You will certainly manage that again with the follow-up financing and I also do not expect that you will pay much more than 2-3% interest then. For me personally, however, the term of the loan overall is a bit too long and I would try to shorten it either with a higher rate or special repayments.

The total amount of your costs sounds plausible, the internal distribution is certainly not correct. The carport kit is available for significantly less, but in the garden you will almost certainly spend more than €10,000 on rental equipment and materials.

To be honest, I think 1500€ is already quite a lot. Please consider that this is already 35% of our net income.

Go for it!
Salary will still develop at your age.
What are the alternatives? Would you be able to rent something similar significantly cheaper?