Is financing over 40 years possible/sensible?

I cannot estimate the costs for heating and electricity. I was thinking about 250 €/month.

The additional costs also include things like that. Property tax, garbage fees, water/sewage, insurance for the house, etc.

Regardless of the fact that a fireplace nowadays in an energy-saving regulation house still costs around 350€ for 130sqm.

+ 200 for the home savings contract
+ 800-900
= 1350-1450 currently drained. At the moment you have 3000€ net.

Many banks will reject anyway.
So; at least the training is not yet completed and has not resulted in a permanent contract.

With 800€ you get about 220T far. With 900€ 260T far.

It gets interesting when you can permanently put about 1200/1300 into the financing. There is a 350T house budget-wise.

Below that, you have to manage a lot with own work and many acquaintances and relatives.

Thank you

How about the following scenario:
We take out a loan with a 15-year fixed interest rate and 2% repayment, if possible with a rate of €900.
After 5 years, we can simply add a savings measure (e.g. a building savings contract) and save for 10 years (at €400 per month that would be almost €50,000 extra). Then this amount can serve as an additional repayment after the total 15 years and the amount for the next loan is significantly reduced.
Is that conceivable?

If you have saving discipline, make extra repayments. Or do you have to force yourself to save by contract with a bank? Mine is because of the [Bausparers].

I still warn against acting too early here. If you get married and want children: they also cost money. At the beginning due to lost salary, later possibly daycare fees. Is that also on your radar?

Even then, a higher equity and a somewhat further grown career make planning more relaxed.

The calculation is quite simple:

For a rate of €900, you get a loan of €300k. At an 80% loan-to-value ratio, that results in an interest rate of 1.6% over 15 years with a repayment of 2%. On top of the rate come the mentioned monthly ancillary costs of €400-450.

The problem is that the purchase incidental costs such as property transfer tax, notary, broker, etc. cannot be included in the 20% equity; otherwise, it is not an 80% loan-to-value ratio. If this causes you to move to a 90% loan-to-value ratio, the interest rates will rise and the installment will increase.

The general problem is that because the rate is so low, after 15 years you will have only repaid €100k and still have a remaining debt of €200k.

The other question is, what can you get in the Hamburg surrounding area for €350k-375k? I don’t think you can build new for that including the land!

It feels like you are missing €100-125k in loan amount. If you come to that realization, then you can bury the idea faster for yourself. Your salary is simply too low for such a project in the Hamburg metropolitan area!

Thank you Zaba. The plot costs about €75,000. I calculate ancillary building costs at about €50,000 The house costs about 200-230K Remaining costs about €15,000 The following can be contributed as personal work: Electrician Painter Tiler/flooring work Garden + paving work Carport So 350K in total could be enough or have I forgotten something essential?

For 200-230k you will not get a decent house. Calculate with about 2000€ per sqm. Moreover, with the mentioned own contributions, you will not really save much. The material alone for the electrical work accounts for about 50-60% of the costs. What about kitchen, furniture, and miscellaneous items?