Costs are rising sharply - is additional financing currently possible?

I'm afraid this will be one of the few cases where it really goes spectacularly wrong. Just the idea of having 240m² of living space with a basement on 5,500 net income (without children, both full-time)... how do you plan to do all that yourself, it will take years? Have you trained in skilled trades or do you have numerous craftsmen among your friends who will work for free for one or two years of vacation at your place?

I see many smoking heads here guessing how one could have gotten into such a situation. But why "only" a 1200€ installment with 5.5K net? Just because you are only 30 at the beginning? Something is not right here! A lot of naivety, then still caught up in the past construction boom and shooting from the hip to build a house can work out, but it does not have to. The numbers fit 2020 but not 2022.

Nevertheless: What do you do with the remaining 4300 € net for two people?? Every day a 3-course meal in a 5* restaurant? Two expensive luxury cars? Gambling addiction?

Or is everything calculated on ONE salary? 2750 net, with almost half of it as an installment?

Urgently disclose all information, planning documents, and framework conditions here in your own interest, maybe something can still be counteracted ...

Even if the equity is still deducted there, the total costs for the OP and the real ones are far apart. And 1200 € per month for such a shack... i had a dream...

He probably meant the heating costs with 1200 €/month. ;)

We do not have a developer and it is not so easy to calculate total costs when you have to hurry with the loan as interest rates rise daily.

If you do not have a developer, do you have a general contractor (GC) or an architect?

I wonder how the bank could have approved such a loan. No matter who I talked to about a real estate loan: it was always first checked whether the project was even realistic. Every reputable bank should have rejected such a project. At least based on the information here in the forum. I hope the reality looks better.

Nonetheless: What do you do as a couple with the remaining €4300 net?? Three-course menu every day in a 5* restaurant? Two expensive luxury cars? Gambling addiction?

With 2 people it's already quite difficult to blow it all, I agree with you. With 4 people it's quite quick, and with a couple in their early 30s you have to assume that in the medium term. By the way, you nowadays pay easily €100-150 for a three-course menu for 2 people in a good restaurant even without stars. It doesn't have to be a Michelin-starred restaurant; gastronomy has raised prices insanely in recent months. If you do that once a week, that's already €500 gone per month. My company car currently costs me €250/month; I got it before the raw materials crisis. The successor will cost me €500/month. And with the low repayment rate, you also have to set aside at least €1000 monthly for special repayments; otherwise the house won't be paid off in 100 years. Basically, only one advice can be given here: downsize the house by at least one third and skip the double garage, ideally also the basement.

How far along is the construction? If the basement is already built, it will be difficult to make the house smaller. But I don't see it as that critical, or rather, I know some people who have lived for years in a half-finished house, or whose outdoor facilities were still not finished after 10 years. Finish the ground floor so that you can move in.