Home financing: Is it sensible or should we wait a bit longer?

Goodness, how much do you pay for your house? Have you already built it or what is the situation?

We wanted to invest 1200-1400€ monthly in loan repayment, since we already pay 700€ cold rent and he saves 800€ monthly for building. My boyfriend would like to have everything paid off after 25 years.

So everything is still in the planning stage with us. We would also like to start building next year. I personally had actually imagined a repayment of €700-€750 per month for a loan of €200,000. Construction could then be done with everything included for a maximum of €280,000.

How long should the term be for you?

Have you really been to a bank or a financial service provider who calculates what you can afford? I hardly believe that you will get €215,000 at 3.01% under these circumstances. The equity is too low for that. That is just 14.2%. Of course, the amount is somewhat increased by personal contribution and by saving. We are in a similar situation. My girlfriend works part-time and earns well. And I don’t earn badly either. And currently, we would only get a main loan at 3.4 percent + KFW. That makes you think and calculate.

I would then calculate up to a maximum of 40 years... but I think a bit less.

However, I am still missing the concrete offers from the banks. It also depends on which subsidies ([KFW/WFA]) are still available.
Presumably, there will be several opportunities for somewhat larger prepayments in between. This would of course drastically reduce the term.
In addition, at some point you can also raise the repayment rate a bit... income does increase now and then.

I actually "hope" that I will be finished after about 30 years.

We were not at a bank. We will go there on Tuesday and get advice!

Yes, we also plan to make special repayments etc. because of bonus payments and salary increases etc., as you already said!