Evaluation of construction financing offer with little equity capital

Regarding the building savings contract: do you then also mean to forgo the KfW loans/funding and finance the 200,000 directly through a Volksbank product? The Volksbank itself can currently only offer 2.15 over 30 years.

Thanks again to you all

That's exactly what we have already done. As 2 civil servants, the future income can already be calculated quite well now. You roughly know when promotions are due and to what extent the salary will develop due to collective bargaining agreements or experience levels. I have calculated that until we retire. That's how I also came to the proportional costs as a percentage of our total income, which I mentioned in the initial post.

Regarding the KiTa fees: I haven't fully researched that yet. In RLP, however, it seems that from 01.07.2020 no fees apply for children from 2 years of age.

Regarding the building savings contract: do you then mean to leave out the KfW loans/funding and finance the 200,000 directly via a Volksbank product? Currently, Volksbank itself can only offer 2.15% over 30 years. I don't really like that either, but so far it seems to be the only option to have at least mostly secured it over the entire term. We have several appointments at other banks in early January; let's see what else we'll be offered.

So you would leave the approx. 130k completely unsecured after 10 years and hope that the interest rates will still be at a similarly good level as now in 10 years?

If we then wouldn't save into the building savings contract accordingly, we would have an initial monthly rate of only 1450, which would of course relieve us. But then also the risk of possibly having 4% or more in 10 years...

Hello, I would be happy if you could give me feedback and an evaluation on the following construction financing.

We are both civil servants
Income:
She (29): 3050
He (30): 2700
After deduction of private health insurance 5300 € total income
We currently have no children, we want to try to have 2 (after building the house). We are aware that neither my wife nor I can stay fully at home beyond the 1-year parental leave. But even with my wife’s planned part-time job as a teacher, we never reach 40% of the total income with our current offer including incidental housing costs, but stay at a maximum of about 35% for most of the initial period. Later, when presumably renovations to the house will also be necessary, we are at about 28 - 23%.

Total costs: 624,889
Construction costs: 422,220
Land costs: 107,100 (already included in financing and currently still 83,000 outstanding debt)
Additional construction costs 65,899 (incl. exterior facilities and a financial buffer)
Interior furnishings that we still need (incl. kitchen): 29,650
Equity: approx. 33,000 (will be used for interior furnishings)
Financing requirement: 567,000

We currently have the following offer from Volksbank and its sales partner R+V:
367,000 for 30 years at 1.56% effective (without outstanding debt): special repayments up to 5% p.a.; 1-10% repayment (5 free changes of repayment rate)
100,000 KfW 153 at 0.75% with a repayment subsidy of 5,000 --> outstanding debt: 67,709.56
100,000 KfW 124 at 0.85% --> outstanding debt: 64,832.23

It is important to us that we are flexible in repayment, as especially during the time when we have children or later when both of us work full-time again, we want to be able to adjust the installments to the respective life situation. Furthermore, we prefer the greatest possible security in financing, which is why Volksbank has proposed securing the outstanding debt of the KfW loans of just over 130,000 after the 10-year fixed interest period through a building savings contract.
We would have liked to increase the share of R+V, but this is not possible due to the loan-to-value ratio of the house. We were also advised to take out 2 building savings contracts with different building societies, as each allows financing of 30,000 without land charge registration. According to Volksbank’s estimate, it will be difficult to get the outstanding debt of 130,000 into the loan value after 10 years.

I am already saving for a 200,000 building savings contract at BHW. I had taken it out at the time to secure the low interest rate level. I could therefore split this into one 50,000 contract and we would then take out another 50,000 contract. This would secure at least 100,000 of the 130,000 via building savings contracts.

Volksbank has already calculated the model completely for us, so that after 30 years we would have fully repaid everything.
In this case, we would have the following monthly installment progression:
until 2030: 1700 €
from 2030 - 2033: 1800 €
from 2033 - 2037: 2000 €
from 2037 - 2050: 2100 €
and total costs through interest and fees (etc.) of approx.
137,000 €

We would be very happy about suggestions, evaluations, and opinions.

Does anyone know this loan called HomeClassic Forward? (Forward in this case means that the loan can only be drawn up to 2 years in the future. Until then, it is interim financed by Raiffeisenbank at the same interest rate without repayment.) Does anyone see/know a catch with this product?

Used even a few years ago and occasionally recommended here in the forum. No catch, with the 15 for 30 promotion (which comes 1-2 times every year) a really good offer.