Evaluation of construction financing offer with little equity capital

If the income increases accordingly, the increase should not be a problem, but 1700 EUR with that income and children (who are planned) seems very, very tight to me. We currently have 4,800 EUR with two children and will pay 1200 EUR starting next year. I would definitely not want more than that, 1700 EUR would be completely unthinkable.

The plot is still reasonable, but the house seems quite large or to have expensive extras. Where do the construction costs come from? Usually, there are additional costs on top of that. Even a small additional financing would hurt quite a bit. Can't it be smaller/ cheaper?

That's exactly what I asked right at the beginning, but there was no response.

600 sqm plot with a proper hillside location (8m slope over 28 m plot depth) House: flat roof, 2 stories, whereby the basement is partially cellar and thus partly lies underground. 170 sqm living space plus 14 sqm usable space. Basement: bedroom, 2 x children's rooms, bathroom, technical/utility room, storage/cellar room Upper floor open living-dining area, guest WC, office (roof terrace on the basement) + brick carport including foundation and backfilling of the excavated soil in front of the house to the back of the house, which is then used to create terraced plateaus. insg. 392.500 + 29.220 EL Obviously, the foundation work is correspondingly costly due to the hillside location. Price drivers: KfW55 with controlled residential ventilation, raffstores, relatively many windows, roof terrace, quite a few windows facing the beautiful view. So that this does not get too off-topic: Thanks to Corona, we are currently at 1.23 over 30 years. We are at 1% repayment for the main loan + the two KfW loans 1427,48 monthly. Plus the saving of a building savings contract to secure the KfW loans of 200 €, which can of course be suspended at any time (I wonder anyway whether they are still needed. What, please, should ensure that interest rates will rise again in the next 10 years....) Possible special repayment per year 5 %. Special feature of the MHB: as reverse, i.e., everything I have repaid as a special repayment, I can also take back from the loan if I need it for something unexpected (Has anyone ever had experience with that?) Lastly: The construction contract has already been signed since mid-January.

... we are currently at 1.23 over 30 years. Are at 1% repayment for the main loan ...

And when do you want to have it paid off then? At 2.23% annuity, you both will probably no longer experience that the loan is paid back without larger special repayments, and if you even let the special repayments be paid back ...

Hello Kinderpingui,

how does it look? Which loan have you decided on?