Financing for new construction: realistic or rather wishful thinking?

I find the plot much too big if everything has to be sewn to the edge. What is one supposed to do with such a plot? Make a lawn and then mow it?

Someone wrote: Buy the plot first and then save. I would definitely not do that. Then the money is gone at first and then you want to build as well. To me, that reads like the beginning of a misery. But people are different. Everyone values different things.

I don’t understand why someone with an average income would bind themselves to large, recurring costs. With a small income, I avoid exactly that as much as possible.

You are currently paying 700 EUR cold rent and are putting aside 800 EUR for the house. The additional costs for the house tend to be higher because it is larger than an apartment for rent and a single-family house generally has higher costs than an apartment in a multi-family building.

That means you are saving 800 EUR/month now, but want to pay 1,300 EUR more "cold rent" for the house, plus higher additional costs. How is that supposed to work? According to my calculator, you are already 500 EUR in the red each month just from the cold rent alone.

Don't underestimate the outdoor facilities and interior furnishings. You can easily (!) sink another 20,000 EUR there, just for materials and tools. That only works in a reasonable time if at least 1,000 EUR per month remain for materials.

Thanks for the quick feedback! The 800.00 € saving rate for the house would no longer apply; we currently only have that to build equity. Or am I misunderstanding the calculation?
We have already included 10,000.00 € for materials for outdoor facilities. The interior furnishings are fully available since we currently have a 110.00 sqm apartment. Sure, you sometimes buy something new here, but we could take quite a lot with us initially.
According to my calculation, after all the deductions mentioned above, we still have 400.00 € left monthly. The installment calculated at 1,950.00 €, additional costs (500.00 € (electricity 60.00 € (we are building with a photovoltaic system), heating 210.00 €, insurance 70.00 €, remainder 160.00 €)). Is that set too low? Which items am I missing here?

What happens when you need a new car? Your equity is fully tied up in the financing and you are saving 400 EUR per month, which is 4,800 EUR per year. If suddenly a car loan with 300 EUR/month is added, you are almost at zero. Then, over the course of several years, you won’t be able to buy anything at all because you are not saving anything.

(500.00 € (electricity 60.00 € (we are building with photovoltaic system), heating 210.00 €

With heat pump and photovoltaic system, we are currently at 0€ energy costs. So we pay 60€, but get 60€ for feeding in. 210€ for heating seems very high to me.

Thank you for the quick response! The €800.00 savings rate for the house would be eliminated, as we currently only use it to build equity. Or am I misunderstanding the calculation? We have already included €10,000.00 for outdoor facilities as material in the calculation. The interior furnishings are fully available since we currently have a 110.00 m2 apartment. Of course, you sometimes buy something new here too, but we could initially take along quite a lot. According to my calculation, we still have €400.00 left per month after all deductions mentioned above. Rate calculated at €1,950.00, additional costs (€500.00 (electricity €60.00 (we are building with a photovoltaic system), heating €210.00, insurances €70.00, remainder €160.00)). Is that set too low? What positions am I missing here?

It’s crazy how many things still come up after building the house...

Believe me, you don’t want to look into my order account at the big "A"...

Your calculation isn’t wrong in itself and may look reasonable on paper, but increased monthly costs and one-time costs will eat you up, especially since you haven’t built any reserves.

- €10,000 for outdoor facilities, with which I might have been able to cover the west side of my outdoor area — it won’t be much different for you.
- You already have one child and surely know that a lot of unexpected things come up that aren’t factored in at the beginning.
- A second child is planned — the additional €250 in child benefit won’t be enough... especially since both children will get older and will certainly cost more.
- With this tight calculation, you couldn’t even treat a long-term illness of your pet (I saw you included pet costs).
- Repair costs/unforeseen large expenses will be tough...

and so on...

Hello, including additional costs, 50% of the income goes towards the house. Any buffers do not exist. Leave it alone!

+ I don’t believe that you can manage with €405,000 for the 145m² house and €10,000 for the outdoor facilities on a 450m² plot. Have you taken a close look at the offers or the construction service description? What is included in this price? Example outdoor facilities: I had offers for paving work of €100-120/m² net without paving stones. Even if you only need the material, €40/m² is quickly charged for paving, gravel, grit, etc. Then terrace, some plants, fencing.