Financing of our construction project: Single-family house with double garage in BW

Hello dear members,

I would like some tips regarding the feasibility of our construction project. We are currently wondering if we might be betting a bit too high.

our construction project:

- single-family house, 2 full floors, gable roof, double garage with basement access to the house, KFW 100, bay window 2.5 x 5m

Cost estimate architect: 600k without exterior facilities
Equity: 270k and land

Loan amount with buffer: 350k

Income:
- he: 4k net (company car)
- she: on parental leave 1800 in the first year, afterwards very likely 1500€ (50%)
Child benefit: 210€ (1 child)

Obviously, we can easily get a loan, I just want to know from you if you see this as a "healthy mix," or if we might have to rather "downsize" a bit

Many thanks to you for the advice

You can't say that in general because we don't know your consumption. Some people spend €1500 on food, want to go on a 5*-vacation twice a year, and buy everything new for the child. Then a desire for children comes, and it gets difficult with the mortgage payment. Others can live very well and frugally, and don't even have many insurances. You should write down all living expenses, including every bread roll and daily canteen meal, drugstore, insurances, sports, car, child, and consumption. There is such a list somewhere.

high block is gone = car. Otherwise it fits. The equity itself saved or family / inheritance etc pp?

Are you currently saving anything monthly

high block is gone = car. Otherwise it fits. The equity itself saved or family / inheritance etc pp?

Are you currently saving anything monthly

Thanks for the feedback: 170k saved myself, 100k would be a subsidy from the parents. How high would you set the rate at 350k? Deducting rent (€700 warm) and all other costs, we have a total of 2.5k left.

How high is the current savings rate + the cold rent? You put that in relation to the desired monthly rate. If there is still something left over for the higher incidental housing costs at the house + reserves, everything is in the green area.

How high is the current savings rate + the cold rent? You put that in relation to the desired monthly rate. If there is still something left for the higher ancillary housing costs at the house + reserves, everything is in the green zone.

2500 € +600 € = 3,100€