How much house can I afford?

Hello,

my wife and I would like to buy a plot of land and build a house. KFW70 is planned.
Now some data:

Me:
28 years old; TVÖD EG9 Level 3 (approx. €1,800 net), permanent contract

My wife:
26 years old; TVÖD-SuE S6 Level 3 (approx. €1,700 net), permanent contract

We plan to have 2 children and that my wife will then work only 50% for the time being. Based on the current situation, this would result in the following income: €3,000 net.

Since we will move up in levels, the net will be €3,200 in 3 years. Then it will increase again in 4 years, then in 5 years....

As of today, it would be €3,000 with my wife working part-time (which is already planned).

The following equity capital we have:

Building savings contract (€10,000, 40% savings): €5,600, ready for allocation
Building savings contract (€10,000, 40% savings): €650, not ready for allocation
Building savings contract (€100,000, 30% savings): €14,000, not ready for allocation

Others: €15,000

We are currently saving €800, although more would remain at the end of the month. These €800 include the €100,000 building savings contract with €300 (+ advance), as well as the allocation-ready €10,000 contract with €50.

Our costs are as follows:

We currently pay €405 cold rent. The plot will cost approximately €50,000 fully developed including notary, surveying, and connection costs.

I had read that the loan installment should not exceed 40% of the net salary. That would be a maximum of €1,200. Is that realistic? The question now is, how expensive may the house be? Additional costs will also be incurred.

Especially with 2 planned children, I wouldn’t go much higher than 30% and would make the rest as a special repayment in case your wife goes back to full-time work.

A €900 installment with 2.5% interest and 2% repayment would allow for a possible loan of about €240,000.
+€35,000 equity
= €275,000 total budget

That won’t buy a very large house.
If you subtract €50,000 for the plot, €30,000 for ancillary construction costs, €10,000 for painting work, and €10,000 for outdoor facilities from the €275,000 total budget, you’re left with €175,000. That amounts to approximately 115m². But that doesn’t include a kitchen, garage, any other furniture, etc.

Ok, child benefits would still be added. I have not considered that yet. Bedroom, living room, and dining room (Esszimmergarnitur) are available. Still missing are kitchen, outdoor facilities...

I can assure you, there is still quite a bit to come.

The first issue we stumbled upon was the bathroom furniture. Somehow that was not included in any of our planning.
Other points are lamps, curtains, lawn mower, garden hose, garden tools, tools for DIY work, etc., for which we have budgeted a considerable amount in a lump sum.
The next point would be where you store things. A basement is not possible with this budget, so it would be garage/carport/garden shed, which again costs money.

My wife is also S6 according to TVÖD-SuE, but only a 30-hour contract (there are no more hours available here). The Verdi strikes don't help at all. This ridiculous pay is so bad (especially considering the responsibility) that we have completely excluded her salary from consideration.

Regards, Steffen

PS: sorry for the off-topic..but our politics just make me sick!

One more useful thing: Your huge advantage is two permanent positions in the public sector. I would fix Max. there and only repay 1% to increase the volume.