Is home financing possible with our resources?

Hello dear forum,

I am new here and am also dealing with the major investment of building a house.

Current situation:

-Both 26 years old
-Monthly household net income: €4800
-Equity: €30,000
-Including current rent (€500 cold, €200 additional costs), the monthly expenses amount to approx. €2000 (rent will of course no longer apply with the house construction)
-No children planned

Our wishes:

Single-family house without a basement with about 150m².
Plot amounts to about €20,000 fully developed (rural area).
We already have several offers for our desired house. This would amount to approx. €280,000 including incidental construction costs, heating, electrical installation, and screed. Interior finishing, i.e. floor coverings, wall coverings, sanitary installations will be done by ourselves (various craftsmen from different trades in the family).
The foundation slab will also be done by ourselves as I myself work as a construction engineer in a construction company that supports me in this regard.

The total financing amount would therefore amount to €350k and, including a KFW loan, a monthly burden of approx. €1240 including incidental house costs. €940 repayment and €300 additional costs.

After several bank appointments, we will get this money. We just don’t want to become slaves to our house and therefore the question to you: Do you consider these plans realistic?

Regards, Hausi

Yes, no problem, provided that
- really no children come, but then if necessary the belt will be tightened
- the ancillary construction costs are really included in €280,000. I can't imagine that for 150m². But you can easily afford the extra cost as well.

Don't see a problem there now either, but just to be safe, plan a child's room. At 26 years old, I wouldn't be so sure yet.

I don't see a problem there now, but just to be safe, plan for a children's room. At 26 years old, I wouldn't be so sure yet

I wouldn't so quickly impose a children's room on the OP now. There are also other lifestyles (he and he). If the OP says no children are planned, then no children are planned. But also here the objection 280k€ including incidental building costs for 150sqm => No way!

I wouldn't so quickly foist a children's room on the OP now. There are also other life models (he and he). If the OP says no children are planned, then no children are planned. But here again the objection 280k€ incl. incidental construction costs for 150sqm => No way!

I agree with the child issue as well, you take a good approach to view the OP and their plans individually (maybe also infertile, etc.), but when it comes to construction costs that unfortunately gets thrown out the window again. I really can’t understand how anyone (this doesn’t just apply to you, dear Zaba) can estimate the costs when only the sqm number and a few other nice details are known, especially since the OP also communicates that a lot will be done as own work (exact scope not even known) and also reveals that he is employed as a civil engineer in a construction company ops: ops _O Do you guys know more than the OP???

He and He can also have children