Is financing a single-family house feasible for us?

That is 400 TE for 160 m2 WF!

An 8x10m house is being built, so the WF will realistically probably be around 140 sqm. You can save about 50k euros there. But yes, the all-inclusive package certainly won’t be possible with that loan. I am still convinced that it will work. Just with realistic plans and not "I’ll just take everything."

Our parents are supposed to take over the construction management.

Do your parents have experience with that? You don’t just do that on the side after watching a weekend course on Youtube. I also thought it was easy, but without knowledge, many small things add up to big challenges during construction.

A second child seems less important to us at the moment than the basement.

"At the moment"... That can also change, and then you can’t just sell the basement to get the money for a second child.

It is a little more than 300sqm, but in the end, that doesn't really matter. The garage is on the boundary, so the plan is feasible. The bank would have also given us 100k more credit, so my wife sees everything extremely relaxed. Of course, I don't know if the bank cares if we can't afford the installment with children anymore. Due to our equity and own work, the bank will easily get its invested capital back :-(

You have saved 180k, which is already a very, very good achievement! Basically, I would do it with your income. Besides, you currently live for free and save 4000 euros monthly, meaning you can probably save some more equity before moving in. Although the point that would deter me is that you don't even know exactly how much the whole thing will actually cost! Have you gotten an offer from, for example, a construction company, just to get a feeling for what it could cost (it would have to be more than with separate contracts)? Have you already played through the scenario of income with a child? Although you plan the child in 5 years, a lot can still change. Regarding financing, free repayment changes can also be planned. I would repay as much as possible initially with your income + special repayments (if doable). And if the income decreases, adjust the installment accordingly for that period. But one thing I wonder: on 300sqm a house + double garage, there will hardly be any garden left. Isn't that actually one of the main reasons why many build, especially with children? We have a 389sqm plot and plan without a garage and I'm afraid that in the end hardly any garden will be left.

Parents acting as site managers is standard in the village and often much better than an expensive hired site manager. Can only recommend it. An expert is not expensive, can be done. Sometimes it also helps. More important are very good craftsmen, and these are becoming very rare. But I see no problem. I think your parents can cover the missing 100k if necessary. So let's go!

An 8x10m house is being built, which means the living area will realistically be around 140sqm. That can save you about 50k euros. But yes, the all-inclusive package certainly won't be possible with that loan. I am still convinced it will work. Just with realistic plans and not "I'll take everything at once".

We have about 65sqm of living space each on the ground and upper floors and about 30sqm gallery in the attic. I don’t know the exact figures by heart right now. But as already said, the attic can also be postponed/left as is.

Have you actually played through the income with child scenario yourselves? Although you’re planning that in 5 years, so a lot can still change.

Yes, the plan would be 1 year of parental leave with 1800 euros parental allowance and then work as much as possible again. Our parents could also babysit if the daycare spot doesn’t work out.

You’ve saved 180k, which is already a very, very good achievement! Basically, I would do it with your income.

Furthermore, you currently live rent-free and save 4000 euros monthly, so by the time you move in, you can definitely save up some more equity.

What would scare me, though, is that you don’t exactly know how much the whole thing will actually cost! Have you gotten a quote from, for example, a builder, just to get a feel for what it might cost (it should be more than with individual contracts)?

Have you actually played through the income with child scenario yourselves? Although you’re planning that in 5 years, so a lot can still change.

Regarding financing, you can also plan in free repayment changes. With your income, I’d repay as high as possible at the beginning + special repayments (if feasible). And if the income drops, adjust the installments accordingly for that period.

But one thing I wonder about: a 300sqm house + double garage leaves hardly any garden. That’s actually one of the main reasons many build, especially with children.

We have a 389sqm plot and plan without a garage, and I’m afraid that in the end hardly any garden will be left.

The garden is small, but many of our friends have a terraced house with 180sqm plot. At 700€/sqm, a garden really is too much luxury :-(
Even we have understood that much.
But my wife still dreams of sliding doors to the terrace and inside the house, roller blinds, a great kitchen....

The point that would deter me is that you don't even know exactly how much the whole thing will actually cost! Have you ever gotten a quote from, for example, a construction contractor, just to get a feeling for what it might cost (it would have to be more than individual contracts).

Our neighbors, who built almost the same thing, paid 50k more. We just hope that much of that was for the general contractor and that we do have a lot of family who can help. Although their garage isn't that big either, so here we will really have to make compromises.

We have about 65 sqm of living space each on the ground floor and upper floor, and about 30 sqm gallery in the attic. I don’t know the exact numbers off the top of my head.
But as already said, the attic can also be postponed/left as is.

Yes, the plan would be 1 year of parental leave with 1800 Elterngeld and then working as much as possible again. Our parents could also babysit if the daycare spot doesn’t work out.

The garden is small, but many of our friends have a terraced house with 180 sqm of land. At 700€/sqm, a garden is really too much luxury :-(
We even managed to understand that much.
But my wife still dreams of sliding doors to the terrace and inside the house, raffstores, a great kitchen....

I also dream of a helicopter landing pad...

By the way, something that really bothers me very often (although I’m probably an exception here) is that you talk about:
- free living with the parents
- parents can then chip in money if things get tight
- parents can look after the grandchildren if there is no daycare spot
- parents do construction management.

The question is, when do you give something back to the parents? They have already had enough expenses with you. Sounds like just taking, taking, and taking.

I have my own pride and my own life connected with MY risks. We, my wife and I, would never take money from our parents, especially not when it comes to luxury goods like a house.

But that is a topic for its own thread.