Home financing young family / double block wooden house

Hello everyone,

following situation.

Couple, 30 years old, 1 child 1 year old, 1 more child planned.

Husband's income: at least €2600 net
Wife's income: civil servant for life, wants – and will – return to part-time work after parental leave. (Except if possible child 2 delays this further) Her salary is therefore not counted for now, as it is currently not certain. Before parental leave, the wife earned about €2500 net.

We are not yet married, so the husband is still tax class 1. When the wife returns to part-time work and we are married, the husband is supposed to be in tax class 3, which would mean a net income of at least €3000.

We already own a house, which is still being financed. If we sell this house, we would probably make enough profit to at least fully pay for the building plot development (and also the prepayment penalties of the current financing).

There are no other debts or further monthly expenses, except for the usual living costs.
Further equity is available in manageable amounts (funds, life insurance, building savings contract) totaling about €30,000. However, this should not be used if possible and serve as an emergency fund.

Before we speak with banks, I would like to get an assessment here.

At the moment, we pay just under €800 for the financing. We would be willing and see it as sensible not to invest more than €1000 in a possible house financing.

We would like to build a double log wood house. Turnkey we calculate about €350,000–400,000 for the house with everything included.

Wood houses, especially log houses, are rather difficult to finance with banks. Especially since we can do relatively little work ourselves, apart from painting and possibly flooring (due to lack of craftsmanship).

Is such a project feasible for us? Or would that be complete nonsense? I am convinced that we would probably be able to finance it with some bank. But I would rather like to hear neutral opinions on this.

Thank you!

Is such a project within the realm of possibility for us? Or would that be complete nonsense? I am convinced that we would probably get it financed by some bank. But I would rather like to hear neutral opinions about it.

1,000€ cold rent is no more than the cold rent for a smaller city apartment. It is within the normal and healthy range, provided you can count on the 3,000€ monthly + child benefit(s). No problem at all with any bank - if the valuation of the house is right. How much does the plot cost? With a 1,000€ annuity, however, you only have a rather low (but acceptable given the age) repayment in the financing. From me: First of all, thumbs up.

The plot (approx. 800m2) we would acquire at a discounted rate from family ownership.

The local customary price is about 150€/m2. It is a rural area in BaWü.

In times of Corona and short-time work everywhere you look, I obviously cannot guarantee a higher salary. But the chances are quite good that it will stay that way and I can continue to count on the income.

So more than 20% equity is involved in the financing. Fits.

Currently, you want 400k + bridge financing for the property with 2,600 € plus parental allowance from you

That will fail.

Whether one wants to take on 400k financing afterwards with an income of about 4000 net? I don't know.

Does your wife not receive parental allowance? Although this is not gladly taken into account by the bank, you can of course include it for yourself. As a civil servant, she then also has high security.