Financing: Our house construction project is scheduled to start next year

But it sounds here in the forum as if only rich people can afford a house, but when I look at who builds a house, I just can’t imagine that for the life of me.

No, it’s just that for many people the proportions of “life experience,” “income,” and “financing volume” fit together much better. Financially, you two alone considered are small fry. Both with meager net income, no assets, consumer credit. On top of that, very young and with family planning in mind. (exaggeratedly speaking) There are many vulnerabilities. 1. The house ends up being more expensive anyway ==> how is that supposed to be paid 2. Twins come along much earlier and one of you can/could no longer work or only 25-40%. ==> children start with K, like “K”ost a lot of money 3. After the first long-distance trip you get the taste and want to go to a different continent every year. Or an expensive hobby calls to you. ==> currently not doable, or the money is missing for the house 4. The new job is 400 km away. There your further training is truly appreciated, which you actually expected at your current job ==> not everyone likes to just sell the house like that (wouldn’t bother me, but only few think like that) etc. Just let the answers sink in. You are young and still have so much life ahead of you. There is no need to chase a wish at all costs when there are other options. You can also buy a cheap condominium and move to a house after five years. If you’re talking about a €120k land price, you live in a cheap part of Germany. Alternatively, buy a flat for €150k and repay with 10% - that’s also a form of equity creation. Simultaneously ownership. And the times of double-digit price growth will soon be over (although this was more the case with existing properties or land purchase, construction costs were decoupled and rising more slowly). Reports and analyses suggesting price declines are increasing (most recently last week from Deutsche Bank and yesterday from KfW).

On paper, this looks a bit tight. I neither advise for (Responsibility), nor against (Attitude). The following questions come to mind while reading:

1. You are both 25 and both investing in the house. Have you already overcome major challenges together? How well do you know each other in stressful situations? Don’t learn that from the construction process.
2. It is your dream to build (a). Is it also your partner’s dream?
3. Is it your dream to build something specific or just any house? How do your current ideas about realizing your dream fit with an extremely inflexible budget? Are you also planning to build a second time?
4. What career development do you think is likely for each of you in the long term? Not that you are planning on hope – but once children come, income and expenses change for most people.
5. What skills and willingness for self-performance do you both bring?

Yes, our area is relatively affordable but I don't see why I should move into a condominium and spend 100,000€ - 200,000€ on it. I’d rather save my capital and wait for the right moment. As I said, next year we will start looking and at the same time I am still searching for a job with my suitable salary expectations. And not everyone who is 25 earns 3-4K net per month, at least I don’t know anyone like that in my circle of acquaintances.

Is it somehow possible for an outsider to get access to Europace? I think any other financing question will resolve itself if everything turns red after entering the data?

On paper, that looks a bit tight. I neither recommend it (responsibility), nor advise against it (attitude). The following questions come to mind while reading:

1. You are both 25 and both investing in the house. Have you already overcome major challenges together? How well do you know each other in stressful situations? Doesn’t building something teach you that about each other?
2. It is your dream to build (a). Is it also your partner’s dream?
3. Is it your dream to build something specific or just any house? How do your current ideas for realizing your dream fit with a very inflexible budget? Are you planning to build a second time as well?
4. What career development do you consider likely for each of you in the long term? Not that you should plan on hope—but as soon as children come along, income and expenses change for most people.
5. What skills and willingness for doing work yourselves do you both bring?

1: We have been together for 7 years and have been renting for 4 years already, so we have known each other quite a long time. 2: She definitely wants to have a house; whether to build or not is actually indifferent to her, but we have the same sense of taste. We like modern houses and don’t want to buy a 20-year-old house for 400K only to put another 100K into it. 3: It depends. I want to build our house and then live there forever, but if the situation requires it—for example, if the house has to be sold and we need to move for job reasons—then I would build a second time as well. 4: Regarding my job, I am a machining mechanic and completed my further training as an industrial foreman in metal last year. Up to 1000€ gross more is definitely possible; it depends on the size of the company, and with increasing professional experience, one can also claim higher salary. 5: I like doing things myself. I completely painted our apartment, assembling furniture is no problem, I have friends who are electricians and know carpenters as well, plus my father is self-employed and could do the entire exterior work for me.

Is there any way for an outsider to get access to Europace? I think that another financing question will solve itself if everything turns red after entering the data?

I don't know what you want to achieve with your answer, but in my eyes, constructive criticism looks different :)