Is financing without equity realistic?

Hello,
let me briefly introduce us. We are both 36 years old and have three children (12,12,14).
My husband is a mason and I am a part-time sales assistant.
Currently, we live in a rented house with a cold rent of 1050 euros plus 70 euros utilities; heating costs come extra, about 2000 euros per year.

Income currently:
2100.00 euros salary
800.00 euros salary
558.00 euros child benefit
712.00 euros child support
4170.00 euros total

Expenses: (really all costs converted to monthly)
Insurances 447.00
Car financing 239.00
Phone/TV 210.00
Living costs (food, clothing, gasoline) 1450.00
Total 2350.00

Leftover approx. 1800.00

So now the financing roughly
Land 48000
House 200000 (the house will largely be self-built) 240 sqm living space, without cellar, hip roof, garage, air-water heat pump plus water-carrying tiled stove
We thus need 250000 from the bank, of which 100000 fall under KFW and the rest 150000 with the bank, 2% repayment, 15 years fixed interest rate. According to these great calculators on the websites, I then come to about 900 euros total burden.

Do you think this can be realized like this? No equity available except for own work. We get a lot of tools provided free of charge.

Thanks for your answers.

Best regards

Hello,
any banker will ask you what has happened with the EUR 1,800.00 that, according to your calculation, is left over.
Can you prove that?
If you want to do a lot yourself, you have to take the time factor into account accordingly. So double burden for the rent of the current house and the new loan installments.
Even with a lot of personal contribution, I personally find a budget of EUR 200,000.00 for the house with a living area of 240 sqm and the mentioned equipment a bit tight.
Where and how much have you considered for [Baunebenkosten]?
Regards,
Dirk

I would basically calculate without child benefits and child support (at least for the internal calculation).

Especially at your children's age, it can quickly happen that the money is no longer available because the kids want to live with their father or elsewhere at 18. Then there is no more money to squander ;)

Well, where should I start now: The total income doesn't look too bad at first glance and the family planning is probably complete. That's the positive.

BUT: 1. Check again carefully if you can manage with the 200k for the house. If your husband is a bricklayer, I assume he wants to do a lot of the shell construction himself. That obviously saves a lot of money, but that much? After all, it's 240 sqm and you also want a garage. 2. What I miss in your entire breakdown are the incidental building costs. Where are they? Otherwise, you can easily add 35-40k if that's enough. Is there a soil survey for the plot? Otherwise, add something for the earthworks again. 3. What about maintenance? The kids are already quite big, so the money will probably stop soon, which means 712 € will be missing on the income side. 4. The ancillary costs will certainly be higher than in your current apartment, insurance will be more expensive (building insurance), property tax has to be paid, etc. Don’t forget to create money for reserves. 5. 2% repayment is better than 1% for now. Nevertheless, with an initial 2% repayment and assuming constant interest rates, you pay off for about 30 years, then you will be 66. That means retiring earlier is definitely out of the question. And what if the interest rate rises after 15 years or after 10 years when the follow-up financing of the KFW loans is due? Could you then also pay a higher rate? 6. No equity is never good. Why no equity? And what interest rate have you even calculated with? After all, this will be a 100+% financing.

So first of all, there is no 1800.00 available at the moment since you still have to deduct the rent here. The shell construction costs us 50,000 euros and that is 1/3 of the house, leaving 100,000 for the house and 50,000 ancillary building costs. There will be no double burden on us, since we will be living with my parents-in-law from the start of construction. We are certainly aware that it is an enormous time commitment. But show me the bricklayer who does not want to build his own house :)

Again on 6. Ok, sorry, with a lot of personal contribution it will probably not be a 100+% financing, but you certainly won't get dream conditions.