Finance Single-family house - Feasibility?

Hello everyone,

we (both 32) in permanent employment, public service (TV-L 13) and aligned with the collective agreement in the public sector (TVöD 9b), total net income: €4100 (increasing) would like to build a single-family house with 150 sqm without a basement on a 570 sqm plot. Children planned in 1-2 years.

Cost of the plot: €64,000, commission-free, plus

Total costs house and plot (incl. additional costs, development costs, outdoor facilities, miscellaneous): €400,000

Equity: €30,000

Can we manage that? What would be good/realistic conditions from the bank?

Thanks and best regards

400,000€ + 64,000€ - 30,000€ = 434,000€ 434,000€ x 4.5% to 5% annuity / 12 months = at least 1,627.50€ monthly rate. plus 300€ additional costs and 150-300€ reserves. That leaves not even 50% of the salary remaining. If then [Kinder] are supposed to come, how is that supposed to work?

The 30 k equity capital is used for "unexpected expenses" at this scale. So you are basically looking for 100% financing. Sorry, but that will probably be difficult. Do you really want that?

@ Musketier: No €400,000 including [Grundstück].

In the 400,000, a buffer of 20,000 euros is already included for unforeseen expenses.

400K€ +64K€ -30K€ =434,000€
434,000€ x 4.5% to 5% annuity / 12 months = at least €1,627.50 monthly rate.
plus €300 additional costs and €150-300 reserves.
Less than 50% of the salary remains.
If children are supposed to come then, how is that supposed to work?

No, 400,000 € including land.