House construction for €400,000 possible with a net income of €4,100?

Yes, I have already done the calculations, but is my assumption correct? I am assuming 30% of what my wife will receive in parental allowance for the 2 years. Part-time is always possible; she works at a government agency. Full-time is rather unusual there...
That means 1800€*0.3= 540€ + child benefit
Since I then have a different tax class, I am calculating with 200€ more

2500+540+194= 3234€ - 1900€ - 1125€ = 209€ left

Of course, that would be tight, but I always base it on my basic net salary (without shift allowance, 13th month salary, vacation pay...) because you always say that only that matters to the bank

I understand that it is tight, but that’s why I’m asking you, since you have more experience than a 25-year-old, whether we can manage it or not?


Yes, I am aware that the 100,000€ won’t be fully used for that, but I am also not buying a completely turnkey property for 350,000€. It should still be a bit cheaper (I wish -> is that allowed?)


Which financing would you suggest then? If something without a building savings contract is possible, completely loan-based? And to use the 15,000€ from the saver as additional capital?

That can definitely work! The rate is very moderate. You just need to be aware that big vacations, etc., might have to wait a few years. And in the next few years, I don't see any major prepayments happening. I would rather set aside some money for parental leave.

We financed with Allianz – full fixed interest rate (32 years) at 2.1%. Perfect for us, we pay an amount until retirement that corresponds to a current cold rent – in 20 years that amount will be a joke. Especially important for us: in the next few years, during which high expenses for the children and loss of income also play a role, we don’t feel rushed to make as many prepayments as possible. With 15 or 20 years fixed interest, it would already stress us out now because no one knows under what conditions the follow-up financing will be arranged then. The conditions can only get much worse.

But ultimately it’s a matter of taste. For us, this was the only option to still be able to sleep peacefully at night!

I would check with the [Bausparer]. But I think withdrawal and use in the construction financing will help you. Otherwise, as you can see from the previous speaker, there are definitely options to fully secure everything.

Thank you all first of all, that reassures me a little.

That means for me I will first continue to contact financiers to achieve the optimal constellation for myself.

Yes, I see the rate as realistic in order not only to survive but to be able to live, otherwise I can forget about building if I can’t even treat myself to a pizza.

The incidental construction costs only give me a stomachache whether 15% is really enough or if 20% might quickly come up, but that’s the bullet you don’t see beforehand.

Maybe I also have to first do without the [Fertiggarage] and instead plan just a double carport to get another 5-10k out as a reserve.

At your age, I would rather finance for 2 years longer and calculate with more buffer.

It always ends up being more expensive than planned. We really examined all positions in detail, built in a lot of buffer, and paid close attention to not letting it get more expensive. Some things were significantly cheaper, a few things got so much more expensive that the buffer suddenly disappeared. In the end, the total sum fit pretty exactly. In hindsight, we would have been happy to have a few thousand left over to not have to handle the outdoor facilities ourselves.

Don’t calculate a flat rate but as detailed as possible, add at least 20-30k buffer to this calculation. You will probably need it. If not, you usually cannot withdraw a certain amount from the bank, which reduces the term/payment.

It always ends up being more expensive than planned. We really examined all positions in detail, built in a lot of buffer, and paid close attention to ensure it wouldn't get more expensive. Some things were significantly cheaper, a few things became so much more expensive that the buffer suddenly disappeared.

I wouldn't generalize it like that. Those who calculate correctly come to +/- 3% and that's fine. To "calculate" with a buffer is nonsense in itself. It should rather be called "costs for foreseeably to be acquired extras."