In the 400,000, a buffer of 20,000 euros has already been included for unforeseen events..
With 400k€ including the land, things already look a bit better.
We (the three of us) currently have about €4,100 in net payouts after deducting a company car and one occupational pension. Our installment is around €850, although in the last 4 years we have taken advantage of the full special repayment of the equivalent of €680/month every year. So in total over €1,530 in installments. We are also building up some reserves for the house and other things. However, we feel that we are already living quite frugally. We don’t smoke, are not party-goers, only go out to eat occasionally, and otherwise spend very little money on clothes, phones, and other technology. Twice a year we go on vacation, but even there we make sure not to travel/fly during the high season as long as the child is not yet school-aged.
Theoretically, it is therefore doable, especially if larger salary increases can still be expected. Only no one can predict the spending behavior. For this, you should keep a household budget book for as long as possible and also plan monthly reserves for car repairs and vehicle replacement purchases, for other replacements, and also for vacations.
The only thing to bridge then is parental leave, and the question is whether both partners can work full-time again afterwards.
Maybe also consider whether a few square meters less would also be sufficient.
As an example:
When building the house, we planned a guest room, for example. Before building, we thought: "Finally a guest room," so friends, acquaintances, and relatives, many of whom live within a radius of 50-100 km, can stay with us for birthdays and celebrations in the future and don’t have to drive back.
After 4 years, I can still count the overnight stays on both hands.
The old folks still want to be in
their own bed in the evening, so they prefer to go home rather than stay overnight. If you multiply the 16m² by €1,500, the guest room has cost us around €24k. Generously subtracting 6m² of created storage space, it’s still €15k. At 2 overnight stays/year and under €50 per room/night in the next guesthouse, I could rent a guesthouse for my overnight guests for the next 150 years.
By the way, we also bought a pull-out couch in case more than 2 people want to stay overnight. We could have completely saved these additional costs.