Thank you for the many responses and the stimulating discussion.
I am 32 years old, not single, tax class 1. My/our financial situation will rather improve; a salary jump of 500 € gross is certain and contractually fixed for me in 3 years, and tariff increases of 2-3% every 24 months at the latest (rather earlier) thanks to a strong union, etc. However, I prefer to calculate very conservatively, only what I have today; bonus payments and Christmas bonuses are also not mentioned in my initial post. I am aware that the beginning will not be easy, and I can also live without a vacation for a year (these are luxury problems for me), I grew up with little money and can cope well with that even in times of crisis. I also do not want to put my entire savings rate of 1,400 € into the loan. I would rather make special repayments at the end of the year. My girlfriend supports me in this respect, that she will go the path with me even if it gets tight for a month. My girlfriend also earns money; my question is actually whether I can manage something for around 350k (+-) (detailed again at the end of the post).
With a lot of own effort, it will probably be possible too. However, the bank alone will not give you the money. They want security, which you alone cannot provide. My opinion. You didn’t write anything about your age…
I have now added my age. Does my plot of land count as security for the bank? With a total volume of 450,000, I would already have an equity ratio of over 20% with just the plot of land; in addition, there would be equity in the form of money (30k). Is it not possible to finance 320k (+-) over 20-30 years with my conditions?
In advance: didn’t your thread actually belong more in the financing section (even if I would not have come across you there, but that doesn’t have to be a bad thing)? You already have a plot in your possession – did you just inherit it or did you buy it and pay it off yourself (which would be a plus for your creditworthiness)? And: what would be allowed to be built on it?
That sounds largely like reasonable and down-to-earth demands. Rectangular shape without frills is good, but square is rather bad, and two full floors are not worthwhile. At that size, you are on the borderline between "bungalow" / "one-and-a-half floors". What does the plot say about that (total area, plot ratio/floor space ratio)? If it’s possible from the plot, then maybe build even as a "bungalow," otherwise as "one-and-a-half floors." If you instead take a "city villa" plus square floor plan and add a straight staircase on top as a worst case, you end up at 140 sqm (to have exactly as much space as on 110 sqm without these three space drivers).
For me, the dream is more than numbers; that’s why it fits better here for me. I think I could manage the project if I can manage something for 350k. My question is rather whether I can get something for 350k (land as mentioned available)? The plot is not easy to build on; I was able to clarify the optimal ratio between what I am allowed to build and what makes sense (living habits, parking possibilities, etc.) with a building preliminary inquiry. I will probably get approval for exterior dimensions of the house 7x12 m; I think something good can be planned there. It is not a square floor plan at all but a rectangle. It was late yesterday; I was mistaken or mixed something up. Sorry.
The plot is bought (but at a much lower purchase price than the market price – family situation) and paid off.
If I were alone, I would take a closer look at the tiny house approach. If I planned to live with two people in the house, I would find it worthwhile to look into vacation home floor plans. If there were a possibility of starting a family, I would rethink my expenses and keep my feet still without an earning partner.
I am not alone, and children are planned in the future, but not in the near term. Partner also earns. Financing should, however, run exclusively through me.
I understood it a bit differently:
1,400 € consists of 800 € savings rate + 600 € rent. Then 1,500 € credit costs would definitely be too much. Or does the OP actually pay 1,400 € rent for himself alone??
Exactly, the 1,400 € consists of 800 savings rate + 600 rent. So the maximum affordable amount is 1,400 €. Then I would not be at zero at the end of the year; Christmas bonus, bonuses, etc. are not indicated. I also do not want to put the entire 1,400 into financing.
Yes, that would then be too little. If that is the case, I would go down to a maximum of 1,100-1,200 € installments and then the financing amount would also go down accordingly.
I also see myself at max. 1,200 € per month. In addition, the possibility of special repayments at the end of the year.
The real question is: Why do you want to build a house? If I were single, I would never think about binding myself to anything. The crux in financing is your age. If you still have enough working years ahead of you, it will work out. Securities are sufficient with the plot.
It sounds silly, but it is my wish. Others want to travel, become Instagram influencers, or other things. I want to own a house in my life (existing property is out of the question; prices in the area are too overheated due to few offers). My partner also fully supports me. Financing should be handled only by me. I still have 35 working years ahead of me.
The question that arises for me is, can I manage something for about 350k with the few down-to-earth wishes mentioned in the initial post? I am having difficulty believing that now, hence my post. With a request for your opinions. Is there hope to get something? No tiny house, no container, but a house, not from Poland, built to today’s standards without major special wishes.
I have noted the tip about regionally owner-operated companies, many thanks! Reducing to 1.5 floors instead of 2 floors, also a tip I will take to save money, also many thanks.