House construction for €750,000 with an income

750k is not what we want or will reach, but we will come close to that size. Currently, 600k is planned (225m² without basement + 1300m² plot), but we have deliberately cut back on some things and are saving them for later. Garage, glass roof for the terrace, roof terrace, elaborate garden design with pool, pond, etc. That’s quickly another 100,000€ sunk. How do we do it? We have saved well over the past years, the parents are helping a bit, and suddenly only 50% needs to be financed. And 5000€ net is not a huge amount for a household now. A couple of assembly line workers at BMW/Daimler/Audi have that too.

If so many people say the salary is so high here.. how do you all manage with a house??

Hm, spend less on the house? Less vacation, fewer cars, no pay-TV, no gym, no cigarettes, no meat [brings hardly any cost advantage in the canteen], I don’t know ...

Off-topic:

And I currently love my garage at the house, so that every morning I can put the kids in the car with dry feet or don’t have to get into an ice-cold car in winter. That’s my luxury

I would suffocate if I had to get into the car every day ... Good thing I can ride my bike (also costs much less than a monthly ticket or even a car). At the new building, of course, there is still a double garage at the house: one car and then a few bicycles.

I understand the thing with the garage, whether carport or garage, there must be a continuous roof to the door. In that respect, not all properties qualify...

Hello,

a construction loan of 750 thousand € minus the equity should definitely be achievable under 2% p.a. If your husband is contractually guaranteed the bonus of 15,000 €, it can also be included in the creditworthiness calculation from the start. I think you would not overextend yourselves with the project. I myself finance new construction projects in this size range and see no major problems here. Best regards Engin Özdemir