Evaluation of Construction Project / Credit Offer

Do you already have a concrete offer for your desired house or is it just an estimate so far?

Yes, we already have an offer ready for signing, 186 sqm, KFW40+, basically our desired equipment with additional construction costs and some own adjustments at about 400,000€.

I am grateful for every critical remark, we ourselves think that we could manage it, of course with the appropriate change of lifestyle. Our salary will also increase significantly, I myself have only recently taken on a management position in a publicly traded company, initially with a reduced salary. We have covered all ancillary costs in our household budget, included food with 600€ per month, new purchases with 200€, and maintenance also with 200€, after that there is still 1,100€ left + bonus (which has always been fully paid out in the last 10 years).

Your combined household income including bonus is about 135,000-140,000, right? I wonder who else is supposed to finance around 550,000 if not you. We are about to move in. We financed 465,000 euros with a household income of just under 120,000 euros. Due to tax class 4, you also get about 2,000 - 4,000 euros back in taxes per year (together).

Yes, we already have an offer ready for signature, 186 sqm, KFW40+, basically our desired equipment with additional construction costs and some own adjustments at about 400,000€.

KFW40+ 186sqm all inclusive. 400,000€ sounds very cheap. If that's true, you will definitely manage it. But it could certainly be discussed again whether that can actually work.

Your joint household income including bonus is about 135,000-140,000, right? I wonder who else should finance about 550,000 if not you. We are about to move in. We financed 465,000 euros with a household income of just under 120,000 euros. Due to tax class 4, you also get about 2,000 - 4,000 euros back in taxes per year (together).

Correct, our gross annual income is about €137,000.
We get about €2,500-3,000 back from taxes per year.

I am already somewhat shocked by the reactions, even though I wished for very critical comments.

We are aware that we can no longer eat out twice a week, go on vacation 3-4 times a year, etc. and so on.

We haven’t indulged in this luxury for very long either; two years ago we still had €1,000 less net in our pockets and managed quite well with that.

KFW40+ 186sqm all-in. 400k€ sounds very cheap. If that’s true, you can definitely do it. But it could certainly be discussed again whether that’s even possible.

It doesn’t even seem that cheap to us; we think with a well-known inexpensive manufacturer with production in Poland, where we have an appointment tomorrow, it could become a good deal cheaper. Regarding the offer: Prefabricated house, as said 186 sqm, 2 full floors, hipped roof, KFW40+, electric aluminum roller shutters, fireplace in the living room (+7.6k€), as additional costs we have: - Earthworks 20k€ (plot is flat) - Kitchen 25k€ - Floor slab included - Connection costs 8k€ (agreed with municipality) - Floor coverings at 50€ per sqm, we lay ourselves - Bathroom ceramics 12k€ - Upgrade front door 3k€ - Upgrade stairs 12k€ - Construction power, water, toilet etc. 3k€ - Wall paint 3k€ - Wall tiles 3k€ - The rest is included in the offer