Financing volume 410k € Feasibility assessment

We are currently financing 400k with a very similar income to yours. Since I was pregnant when we signed the contract, we are still paying off quite little at the moment; when I go back to work, the rate will have to be adjusted accordingly. At the moment, however, there are no problems (even with a small child).

What I would also like to recommend to you: We have exactly determined and calculated our income and expenses over two years to see what is feasible; nowadays you can do this very easily using online statements. It gives you a more secure feeling about the numbers. We also calculated how much money we will have monthly during parental leave with one and two children; this can also be reliably predicted. It gives an even more secure feeling. And finally: Build with a general contractor and first see what it will really cost (contractually, not estimated), only then can you finally say how realistic the construction is for you. Our house has 130 sqm of living space, no basement and no garage; we already had the plot, so it is not included in the 400k (!).

Otherwise: Don’t let yourself be unsettled by various pessimists here if everything mentioned above fits.

Hey, thanks for your post, that’s a really good point of reference for me. Were the outdoor facilities, kitchen, furniture included in the 400k? Or did you pay for them out of equity?

So, I also only have €410,000 for the house (133 sqm of living space plus technical room, no basement) and earthworks. The price was fixed with the general contractor in January 2021, currently it will likely be more expensive. On top of that come utility connections (also not exactly cheap, estimated €10k), kitchen (estimated €15k), garden house, carport, paths. The last three points will be done as own work, currently €27k is calculated just for power tools, carport/garden house kits, and other materials. At the moment, I am skeptical whether that will really be enough.
But different laws apply on slopes. We also have a bit of a gradient and I am currently considering the plan to build a retaining wall (hip-high) around the terrace. Whether hollow concrete blocks, palisades, or natural stone blocks, it all really costs a lot, easily €200 and up per square meter of wall surface. Don’t forget, beyond a certain slope you no longer have the choice of whether to do something. Also, the topic of access should be considered on slopes; acquaintances of mine absolutely had to advance their garden before the neighbor builds his house because otherwise the garden behind the house would no longer be accessible with heavy equipment.

May I ask which region? The disparities in Germany regarding construction costs are quite significant … House connections cost around 5k for us.