Feasibility of construction project. Equity capital 50,000 Euros

Off-topic: Your girlfriend is head of the building authority at 22 years old?

Maybe a bit off-topic, but your girlfriend is 22 and head of the building authority? I just can't imagine that

I've thought about that too. The combined income doesn't fit either.

All at the same time [emoji3]

Well, I would have a stomach ache about the total income. That might still be okay at the moment, but as my predecessors already wrote, if children are added and one income is lower, it could become very tight.

The town (market) has only 1600 inhabitants. It is still in the middle of AL 2 and there are only 2 people in the building authority, and one of them recently resigned and now you are taking over the position. So everything is on a small scale, not comparable to a big city or something like that. Income is roughly comparable to ours at 1800 euros. Earthworks, strip foundations, drainage for the house are calculated at 16k. Kitchen is calculated at 12k, both included in the total amount. If earthworks or kitchen should become a bit more expensive, as mentioned, we would take out a little more credit because of that. The house offer is from the company Dennert Massivhaus for an Icon 4 house. Yes, we bought the land from our equity. Not much liquid equity is left now, I would say only about 3k + the savings until next year.

Example: Loan: 330,000 euros (20 years fixed interest at 2.5% nominal interest and 2.5% repayment) Monthly rate: 1,375.00 euros Remaining debt: 116,204.84 euros Term: 27 years, with constant interest

Plus incidental costs and reserves, you will have to invest about an entire current salary for approximately 30 years...