House construction planned; how do you assess my financial situation?

Hello forum!

I am currently planning to build a self-built house in the countryside.
I have already made a small preliminary inquiry about financing at two banks; both said "No problem."
So far so good, but the more I read into the topic, the more uncertain I become.

Therefore, neutral feedback from the forum would be of interest to me.

The situation is as follows:

We are a married couple, currently no children, but one planned. :cool:
Husband; tenured engineer, wife; secure job in a large corporation.

Handicap: Due to my late studies, hardly any equity; currently about 10,000 euros.

Household net income currently: around 5,300 euros. (That should be uncritical)
Household net income with child, without parental allowance (worst case): 3,800 euros.

Monthly fixed costs for insurance, cars, fuel, etc.: 1,350 euros.

In the "worst case" scenario, that leaves 2,450 euros for the house incl. additional costs and living expenses (then 3 persons).

The following construction project is currently planned:

Plot incl. incidental acquisition costs: 70,000 euros

Building: timber frame prefabricated house for self-construction; city villa 10x10m, 2 full floors, no basement, plus double garage. Kfw 70, gas condensing boiler.

I originally assumed that I could manage with 200,000 euros for the building; so 270,000 in total; max. however 300,000 euros.

Question 1: Are 270,000 euros approximately realistic?
Question 2: How do you see the financing of max. 300,000 euros over 25 to 30 years with the above income?

On the positive side, there are still (but remain unconsidered, just for the back of my mind):
- wife will work part-time again later (+€)
- good promotion prospects for me (+€)
- later opening of an engineering office "on the side" planned (+€)

It would only be important to me that the whole thing is also manageable in the "worst case" scenario, basically for peace of mind... :o

Thanks for your opinions!

Hello, I think that not your financial situation, but rather your low estimated house construction costs could become a problem. However, there are enough experts in the forum regarding costs who can answer you on this. Does a civil servant have enough time to do the expansion yourself? :o

Does a civil servant really have that much time to do the expansion? :o

I hope I don't get in trouble for writing this: I work 2 x 24 hours per week... :)

Does a civil servant have that much time to carry out the expansion? :o

what a question ;) ... as a civil servant, you can take your time *off topic*

Now FWing: where are the incidental construction costs and the material procurement in your calculation? Add a big figure for that (you can google it all if no one answers here), then it might work... Civil servants get different conditions, especially if no equity is involved.

Hello forum!

I am currently planning the construction of a self-built house in the countryside.

And what am I supposed to understand by that?

Kind regards

And what am I supposed to understand by that?

Best regards

I’ll quote myself:

The following construction project is currently in planning:

"Plot incl. acquisition incidental costs: 70,000 euros

Building: Timber-frame prefabricated house for self-completion; city villa 10x10m, 2 full floors, no basement, plus double garage. Kfw 70, gas condensing boiler."

Further info:
- Electrical items at equity price + electrical work free of charge (family)
- Built-in kitchen free of charge (family), remaining furniture and appliances available
- Interior finishing done by myself (floors, OSB boards (installation level), drywall, filling, etc.)
- Roof covering possibly also self-done
- Outdoor facilities will be done later (so they don’t need to be included)
- Controlled residential ventilation and underfloor heating

I can’t say more yet, as it is early planning phase.