Feasible? Your assessment regarding the rate and plan

We are currently gathering information everywhere about building a house and I would like your opinion on the financing.

About us: we are 30 & 35 years old, both in public service and have a combined net income of 4,200 (which will increase over the years due to advancement steps). We have the opportunity to get a plot of land for 60,000 and build there. An offer from the construction company is available: 349,000 (including the land), additional construction costs of 25,000 would be covered by savings. There is not much more equity though. In initial talks with banks and advisors, we have come up with a model that would cost us about 1,400€ per month in payments. However, that was calculated only for the 350,000. We were told to add another 20,000 for outdoor facilities on top. (We want to do a lot of this work ourselves)

What do you think? Does this all sound reasonable/doable?

Why are you calculating a loan for 350k? You still need 60k plus additional costs for the land. I believe 25k for incidental construction costs is also too little, then probably items like kitchen and furniture are also missing. How is your income currently distributed (rent, savings rate, car, etc.)?

349,000 (incl. land)

290K€ turnkey? 25K€ ancillary construction costs are too little. Small stuff (connections, kitchen, lamps, furnishings...) makes a huge mess. On top of that, you have exactly 0 buffer. A bit more earthworks and the house of cards collapses before even a single stone is laid on another.

I must have formulated it poorly. The 350,000 includes the 60,000 for the land. (The construction company also owns the land.) The additional costs (notary and property transfer tax) are 25,000 - which we would have saved. The house itself is priced at 233,000. With additional construction costs and special requests (turnkey!) we then arrive at a total of 350,000. Everything is included in the breakdown. House connections, extra effort for the foundation, surveying, soil excavation disposal, expert reports, applications, floor tiles, painting work, laying laminate, underfloor heating, electric shutters, etc. Basically the complete package, just no landscaping.

I probably formulated that badly. The 60,000 for the land is included in the 350,000.

Sorry, misread!

The house itself is priced at 233,000.

I dare to doubt that. No idea how big the house will be, but just take sqm * 2000. That would mean you are building 116 sqm without garage, without basement, and only turnkey. There are still 20k missing for ceiling and floors. Best regards