Is financing for a new single-family house possible?

Somehow you have completely lost touch with money.

Total costs of over 900,000 euros for a house.

You put all your savings into it, plus an inheritance and a smaller interest-free loan. Since this of course is far from enough, you also take on financing of 450,000 euros. With the current interest rates, you will end up paying about 1.3 million euros for your house.

When you sign the purchase contract, you are basically already broke.
No one can seriously estimate the additional costs for the house at the moment. And a monthly income of 6,000 euros is not that much. At least not with these amounts.

You will manage the loan, that’s not even the point. More the total amount. You are now capable of acting, have a nice life and also a lot saved. And the estimated costs certainly won’t be enough until completion. You will end up with over a million.

For 20k nowadays, you can barely get a decent kitchen at [Obi].

A friend bought a house here in [Thüringen] last week. 5 km from a district town and less than 300 km from the [Rhein Main Gebiet].
So 900 sqm plot, house built in 2000, quiet, rural location. 3-car garage with finished attic, heated and covered pool in the garden, solar thermal and photovoltaic systems available. Heat pump heating, 2 bathrooms, high-quality fittings, and finished attic altogether about 240 sqm living space.

Bought for 280,000 euros and paid cash.

Somehow you have completely lost touch with money. Total costs of over 900,000 euros for a house.

There are supposed to be areas where a new build costs that much and not everyone wants to live in an existing house in Dark Germany.

Oh no, it doesn’t matter whether a house costs 300k or one for 2M – isn’t everyone being helped here? What kind of envy society is this? I find it exciting to see something different than Massa Haus, Danwood, Schwörerhaus & Co.

You put all your savings in there, plus an inheritance and a smaller interest-free loan. Since that of course is far from enough, you also take on financing of 450,000 euros. With the current interest rates, you will end up paying about 1.3 million euros for your house.

I find the remark quite helpful for the OP. A lot has been saved and the parents are generous. But does that mean you have to blow everything? I would also have some respect for that. The ratio of equity to income is somewhat distorted here. It doesn’t have to be a Thüringer "Hauptsache-groß-Haus," because it’s not quantity that counts, but quality; also the 170 sqm I find justified with 3 children, but the managing of money is somewhat lacking here. I would work with a bit more cushion and not calculate everything into the financing. For example, the interest-free loan: in an emergency, one could also use it later. Probably wrong on my part thinking because of the interest, but some reasonableness is missing here. I just looked it up: the 6000€ income includes child benefit. I would, for example, initially leave that out mentally, and then where do we stand? At a mediocre salary, but with a million-euro project hanging over us.

I find it exciting to see something different than Massa Haus, , & Co.

Well, with 550,000 on 170 sqm, nothing else will come out :)

It's rather an expression of pity when pointing out that someone who has to spend a million would only have to pay 300 K elsewhere for something similar...

I think it's reasonable to at least make that clear to oneself. You only have one life, and do you want to spend it completely paying off a house? If you want that, fine, but I think it's good to at least ask yourself that question. Because with a cheaper house, you suddenly have a lot of money and time left (because less work is necessary). Especially when the conditions are so ideal, you don't have to push to the limit, but can use that to reach the goal of a "paid-off house" faster. Of course, that's not a must; there are also people who don't want to pay everything off but want to sell beforehand and then move to the next house, a bit like leasing.

We asked ourselves that question back then and then bought "below our means." You don't have to do that, but you should maybe be aware of it. Because it becomes problematic when you are living paycheck to paycheck and in the end are not satisfied because both have to work 100% and still don't have much left besides the house. Because if all the money left after regular expenses and the savings rate for vacation goes into that, I find it very tight.