House construction - how to calculate expenses

Hello, I am new here and have a few important questions right away. My girlfriend and I are planning to build a house in 1 or 2 years, but we have already found a very good plot of land at a very good price that we want to have. Here are the details:

plot price 40,000€, fully developed (what exactly does that mean?)

house price approx. 125 sqm, solid construction with basement approx. 180,000€ (we are still having it calculated exactly)

what other costs will be added?

how do I finance the whole thing? no equity available

I earn 1,500€-1,600€ net

she earns 1,100€ net

we both have a car loan of 250€ each, hers for 2 more years, mine for 4 more years.

hope you can help me a little already.

best regards ronny

What "fully developed" means is probably only known by the owner. Connections for water, sewage, electricity, telephone, gas, road construction may be included - or not. Further costs include, for example, property transfer tax, notary fees, possibly a broker, and of course the furnishings. I wouldn't overlook a kitchen in the financing, bathrooms, heating (but that depends on the level of completion of the house, whether that needs to be considered additionally). Financing a plot of land + house worth maybe €250,000 with €2600/month is, well, extremely difficult, because without equity you are unlikely to get a loan. How much is left every month from the €2600? The car loans can probably be neglected because they will expire "soon".

Hello!

For fully developed, you have to talk to the owner, it can also go wrong, I once had a case (in Austria) where he had to pay around 10,000 more for the necessary connections (because the property was remote)
Best regards

Well, someone has already lived there and there is also an old house on it that is to be demolished, a very small one. So electricity, water, and sewage are available.

Hello!

Do you now also have more than 1,000 euros in cold rent?

Since you obviously were not willing or able to build equity in the past and instead took out loans for consumer goods, the little house would significantly restrict your accustomed standard of living – and that for at least 30 years:eek:!

The basic rule "at least 15% equity" does not always have to apply – but additional loans are out of the question.

Best regards, Tom.

Oh, there is already a little house on it that needs to be demolished. But that will require money again.

Honestly, I’m pessimistic about it.

Have you ever kept a household budget or something like that to find out how much money you have left each month? Because with the 500€ you are currently using to pay off the cars, you won’t get very far with 250,000. How about wealthy parents or something like that to get equity?