Financing offer single-family house 180 m^2

Hello everyone,

we are currently in the final phase and want to start building soon.
A plot of land worth about 150,000€ is available.

Additionally, equity capital of 50,000€ is available.

Net income he: 3,400€ (plus variable bonus)
Net income she: 2,100€ (13 salaries)
Household net income: 5,500€
Age: both 28

The financing amount totals 370,000€
and is composed as follows.

250,000€ MHB with
effective annual interest rate 1.01% over 30 years
120,000€ KFW with
effective annual interest rate 0.75%

The monthly burden would be about 1,500€.
The term would then be about 21 years if everything goes smoothly.
From your point of view, is the financing feasible or are we overextending ourselves with the loan?

Why 30 years commitment with a term of 21 years?
However, the interest rate is great for such a long term.
I also find the installment appropriate for the income.
As always, only the question remains whether the buffer fits and the costs are correctly estimated?

I wanted to play it safe and be able to adjust the rate downwards in case of emergency (adjustment would be possible 3 times). This could then increase the term. Additionally, the conditions with a 20-year fixed interest rate were worse. I don’t quite understand it, but oh well.

The offer for the turnkey house amounted to €430,000 including outdoor facilities and garage. By subcontracting individual trades, we would be about €25,000 cheaper and additionally, own work amounting to about €15,000 to €20,000 is to be provided.

Based on the offers, about €390,000 would be needed. However, the equity could theoretically be used in full.

Hello, with additional costs, €2,000 are gone every month from €5,500. It can be done, you seem to have saved well (property from equity?)

With child(ren), it naturally gets tighter

Everything fits, but I would increase the loan amount.

Durch Fremdvergaben von einzelnen Gewerken wären wir etwa 25000€

I can hardly believe that, unless you have craftsmen in the family who work for free.

Zusätzlich sollen Eigenleistungen in Höhe von Etwa 15000€ bis 20000€ erbracht werden.

The house is turnkey. By doing it yourself, you don’t save money, you just pay less extra because materials have to be bought.

How about a nice round €400,000 loan to make everything more relaxed?

We initially wanted to build turnkey but then decided against it. Through external contracting, we save a lot because the markups by the construction company for several items were no longer reasonable. Example floor: price per sqm at the construction company €45 price per sqm at the specialist store €25 for the exact same floor amounts to €3100 for 155 sqm alone and we save the installation costs by laying the floor ourselves.

For the windows (-€7000) and the front door (-€1800), the price differences were similarly significant. We also purchase the paint ourselves and save nearly 30% on that item and do the painting ourselves. There are also a few larger items and numerous small things.