House construction 2021 financing €500,000 opinion

But I wonder how all the people do it who now don't have 100k equity and don't earn more than €4000 net per month, which is also not common for a family with a child.

The question is very easy to answer: They build a maximum of 160 m² or even less, e.g. 120 m². 250 m² is really very large. And a private bathroom for the guest room is really a very upscale luxury, which accordingly costs ;)

Thank you for the answer. Then we will probably have to save longer and wait until my wife can work more again, a smaller house is out of the question for us because we have a large family and definitely need a guest room + separate bathroom and otherwise are satisfied with the layout. But thanks anyway for your opinion. Then we have to think again, maybe something can still be done here and there with the grandparents/parents regarding equity.

You are three. Primarily, you are building a house for yourselves and not for the family. A guest room is not a problem at all. But why does there have to be an extra bathroom? The guest bathroom on the ground floor + shower is absolutely sufficient. Even the kids' bathroom is actually superfluous – I read more negative than positive about such things here in the forum, but you don't have to cut everything out, especially not with plumbing in EL. Since this is done within the inner circle of the family, I expect fewer problems. Once again the question – have you already been in model houses? Do you even have a feeling for what can be realized on 120 sqm or even your realistic 160 sqm?

But I wonder how all the people do it who now do not have 100k equity and do not have more than 4000€ net per month, which is also not common for a family with a child. And how many still do a lot themselves and many people have the house delivered turnkey even if it is significantly fewer sqm.

Just as an example. Land from family. Standard 140 sqm house with a bit of interior selection and all the trimmings around 350k. 50k equity results in about 300k financing. That is about 1000€ monthly. Plus all reserves, insurance, additional costs etc. then about 1500€ are spent monthly on living. And they have 2 instead of 4 bathrooms. Often even only one shower instead of 3. No 33 sqm balcony and no bedroom with a dressing room over 33 sqm.

But I wonder how all the people do it who don’t have 100k equity and no more than 4000€ net per month

1. They don’t build. 2. They build smaller/more modestly 3. Modesty often means 130sqm, a family bathroom, and guests on the living room sofa. A hotel is often cheaper than a guest wing 4. Turnkey has mostly been without flooring and painting work for 10/15 years already. That is calculated separately anyway. 5. Many do actually get a financial boost from their parents. Whether you have to afford 30-50sqm more than others with the financial boost... If I were the one giving the financial boost, I would first demand realism and down-to-earthness before my money is wasted.

In our region, almost everyone we know actually gets a substantial financial boost from home, usually 100 to 300k. Building plots often extra. Otherwise, only academic couples with well over 6k net monthly income can still build. But even there it’s slowly becoming critical and only possible with significant compromises.

But many trends are coming back from the 80s. Fashion, fanny packs, and also the nonsense with children’s bathrooms and toilets in the basement. We’ve had all that before and dismissed it again for good reasons.

What do you think would be necessary in equity to realize this project with our net income?

150000€? 175000€?