How much income do we need for our home loan?

170m2 for 340,000 plus 80 TE for 80m2 basement/garage and 30 to 70 TE additional construction costs (volatile and inaccurate as this depends on your basement, the exact hillside location and the soil class) So around 500 TE, plus outdoor facilities and furniture.

Since construction only started in 2021, I would even estimate 5-10% more.

Why do you want to build a 170sqm house with a basement when you don't have and don't want children?

Why do you want to build a 170sqm house with a basement if you don’t have and don’t want children?

Because that is the size we find comfortable. We currently live in a 110 sqm apartment and feel the need for more space. Since we both mainly work from home, we each need an appropriate study. Additionally, we want a gym room and a guest room because we often have overnight visitors (family lives abroad and visits for a few weeks a year, and friends occasionally as well). So it should be 5 rooms plus kitchen and bathroom. It is meant to be something for the next decades.

Sorry, the thread is totally pointless after all.

a) no framework conditions are known that could even remotely estimate the construction costs except for the known flat-rate forum amounts.
b) in no way can a minimum income be derived from this, since even less is known about you (expenses, debts, etc.).
If the €500,000 loan mentioned above is realistic, I wouldn’t approach the project with less than €6,000 net. Probably more. But that depends on your lifestyle and pain threshold.

Sorry, the thread is totally pointless. a) no framework conditions are known by which the construction costs could even remotely be estimated except the well-known flat forum amounts. b) from this in no way can a minimum income be derived, since even less is known about you (expenses, debts, etc.). If the €500,000 loan above is realistic, I wouldn’t start the project with less than €6,000 net. Rather more. But that depends on your lifestyle or pain threshold.

So I’m happy to provide the info needed. Absolutely no debts, never had a loan. Expenses excluding rent currently around €1,500. The rent is also €1,500. So in total €3,000 with just under €6,000 net household income. Have prices really almost doubled so drastically in recent years? Because from what I’ve read online in experience reports about what houses have cost, they were more in the range of €250k to €350k. For similar square meters. If I now have a general contractor or prefab house builder make me an offer as a fixed price, then it can’t suddenly cost a lot more afterwards, right? I mean the house itself, not the groundwork, since it’s clear that depends on the soil. Can I find the soil classification in the development plan of the new building area or do I first need to have a soil survey done? (which I plan to do anyway)

That means your savings rate is €3000 per month? Where did all the money go if the only equity you have is your plot of land? That would be about the savings of one year. Do you have cars? I doubt the €1500.. especially in a region where rent costs €1500. Keep a household budget over a longer period.

€350k sounds about right.. just without the basement, double garage, incidental construction costs, and the outdoor facilities.