Is financing a new single-family house feasible?

Simple wire mesh fence maybe 1000 euros in materials (depending on the size of the property).

Weidezaun für Schafe ginge auch

Hello everyone, I kindly wanted to ask the experts in the group for their assessment

Regarding our situation: The architect is finished, we have the building application in the exemption procedure, luckily fixed the price for a self-build house in timber frame construction since December '21, and have several appointments at the bank regarding financing in the next 2 weeks. Obviously, we have already reached out and received advice. However, we would still like to get a few opinions from the group here.

So, here we go:

General information about you:

Who are you? Married couple
How old are you? M27 F28
Are there any children? Not yet
Are children planned? Yes
What do you do professionally? -
Are you employed, self-employed, retired, housewife, househusband, etc...? M- employed; F- soon parental leave, afterwards employed part-time (50-70%)

Income and asset situation:

What income do you have (gross/net)? Together net 4100 plus one-time payments (2300 and 1800 parental allowance, afterwards about 2000 part-time)
How much child benefit do you receive? Soon 219
Other transfer benefits such as parental allowance, sickness benefit, etc...? -
How much equity do you have? About 40,000 + 26,000 KfW55 funding
How much equity do you want to invest in the house project? 56,000

Expenditure situation:

Housing costs:

current cold rent 500
current warm rent 660
electricity 60
gas -
water, sewage, garbage collection, street cleaning included in washing machine
phone, internet, mobile 75

Mobility costs:
car loan (or savings rate for new car) 200
insurance: see below
taxes 250/year
fuel 300
repairs 60

Insurance costs:

Total: 230/month

Living expenses:

groceries 500
general consumption: 200
personal care/drugstore: 50
clothing: 200

Savings:

Savings rate (vacation and 3 building savings contracts): 350

Income and expenditure totals:

total income: 4319
total expenses: approx. 2200
balance: 2119

General information about the property:

How big is the plot? 660 sqm
What are the dimensions? approx. 20x30m
What is the standard land value? 65/sqm
New building, old building (year of construction), house type? New single-family house
Garages? Double garage
How big is the house? (living area / usable area): 158 sqm living area + 48 sqm garage
What is the market value of the land and house after completion? Estimated 500,000-550,000

Construction or purchase costs:

land costs: approx. 41,000 including ancillary costs
development costs: -
incidental acquisition costs (notary, court, property transfer tax, broker): -
construction or purchase costs (including architect, structural engineer): 406,000 house, 32,400 garage
additional construction costs (e.g. house connections, soil expert, construction power, etc.): 35,000
outdoor facilities/terrace, paths, garden design, fences, etc.: estimated 10,000 (flat plot)
financing costs (e.g. fees or commitment interest): -
total costs 515,000

Other costs:

kitchen costs: included in incidental costs
furniture, lamps, decorations: included in incidental costs
other "non-acquisition, acquisition incidentals, construction or additional construction costs": -

Cost breakdown:

total costs 515,000
deductible equity 56,000
financing sum 440,000 (we have already used about 20,000 equity)


My question would be whether that is generally feasible for us with the current developments above 2%? We have calculated with a rate of 1400-1500 euros. Do you think we can manage that or is that too risky? It definitely won't get any better...

If any information is missing, I can gladly provide it afterwards. Many thanks in advance for your expertise!

Is the KFW55 funding still available?

Income and expense totals:

Total income: 4319
Total expenses: approx. 2200
Balance: 2119