Is financing with land and equity possible like this?

Hello everyone,

I would like to get your opinion on this.

My current situation is as follows: I have a plot of land of about 660m² in the west of Regensburg (prime location).

In addition, I have about €40,000 in equity.

The plot is tiered so that my parents' house is at the front of the plot, and mine would be behind it.
That means I would still have to lay the sewer, electricity, water, and cable from the street to the back, about 40 meters.
Also, a partial demolition of a building.

I would like to cover these costs with the capital I currently have in my account, so the situation looks like this:

Plot 660m²
Equity €40,000

House proposal 10.49m x 7.74m / Kfw55 with one roof side photovoltaic, central ventilation, single garage, air/water heat pump.

Price: €310,000

however, without costs for the removal of the excavation soil, which will be charged separately at about €18.20 per m³.

The outdoor facilities will be done by myself, such as terrace flooring, walkways, and driveway.
The floor coverings in the upper floor will be done completely by myself, and I am still considering whether I will also do the entire lower floor myself + install all doors myself to reduce the price further.

My monthly income is about €2000 - €2200.

P.S.

I am calculating with an annual special repayment of about €3000.

What do you think, would something like this be possible?

That means you have to finance T€ 310 + materials for outdoor facilities/floor coverings and other small stuff? That amounts to about €1,000 per month in financing, plus additional costs for the house (€350 per month?), so you only need €650-850 per month for living expenses. Living expenses = food, clothes, insurance/pension, vacation, car, etc.

Is that enough for you, how much do you currently spend per month? Would you, as a bank, grant yourself the corresponding financing?

I would rather say no, because the bank will estimate about €1100 living expenses. + additional costs + installments it will be tight.

Well, I currently live in my parents' house, so I have no costs, which means I can save almost my entire salary. Moreover, the house doesn't have to be finished overnight, I can take my time with it, even if it takes 1 year longer until moving in, and the outdoor facilities will be done gradually.

Well, I currently live in my parents' house, so I have no expenses, which means I can save almost my entire salary.

That's a great starting point for building a house :) When the house is built, you just continue "living" at your parents'. That also saves additional costs in your own house (heating, electricity, water).

I don't know if anyone would want to take on a financing of 310k with 2000-2200 or if a bank would agree to that.