Dream house or castle in the sky?

So, just checked the new financing framework. We can finance around [400.000 €]. So it looks much better.

With 300,000 for the house, 140 sqm should be doable. We are currently building and have finished our calculations. Our rough additional costs: 15,000 for house connections completely, 10,000 costs for land acquisition (depending on the federal state), notary, building application, surveyor, KfW expert, etc., 40,000€ for all extras (kitchen, nicer front door, nicer bathroom parts, fireplace, etc.) excluding exterior work and 6,000€ for extra earthworks (this really depends on the property). One should by no means underestimate the enormous costs from extras. All suppliers of the construction company want to earn a lot extra. The fact that you have already ordered windows for 15,000 euros through the construction company doesn’t bother anyone (if you ordered the windows yourself, the following extras would definitely be included in the price to win you as a customer). Instead, there is then extra charging for the warm edge. If you don’t want burglars to pry open your patio door in 3 seconds, another 1,000€ will be added. And this goes across the board from trade to trade. We thought we had calculated well, but we underestimated some things. The planned 15,000 euros for the outdoor area have now already been calculated elsewhere and "used up". The carport will probably have to wait; the paving work will start next spring (move-in before Christmas). Again, do not underestimate the additional costs from extras. Or be immune to the "if you don’t buy it right now, you’ll regret it for the next 20 years" feeling. Because much of what you decide and install today lasts that long, or even longer (e.g. windows, stairs, doors // conditionally: kitchen, bathroom, expensive! flooring).

Semi-detached house in e.g. a good location like Oestrum (there is a new development area on the Schwafheim border planned) should be quite feasible. We lived in that area before - it is nice there.

So far we are managing quite well with our budget – we are even currently a bit under it. But the actual "selection process" is still to come – discipline is required there – tiles for 25-30 € might do just as well, as well as the Ikea kitchen or furniture from classified ads. Of course, only if the budget is limited ;) I think it also always depends on who you are building with and who you end up with. I do believe that there are still fairly reputable partners who don't go too far overboard.

With 300,000 for the house, 140 sqm should be feasible. We are currently building and have finished our calculations. Our rough additional costs: 15,000 for house connections completely, 10,000 costs for land purchase (depending on the federal state), notary, building application, surveyor, KfW expert, etc., 40,000€ for all extras (kitchen, nicer front door, nicer bathroom fixtures, fireplace, etc.)...).

Clarify these issues in advance to find out whether the bank will cover the special requests / special expenses, or whether you have to pay these from your own capital. Often kitchen and similar items are not covered by a construction loan.

I find 400,000 euros with a monthly income of 4,400 euros quite ambitious! Not much can go wrong there. Interest + repayment + additional costs + reserves, that’s simply 50% of your income gone.....