Is house construction feasible on this scale?

If your house costs also include additional construction costs, demolition costs, development costs, exterior work, kitchen, and furnishings, then your equity will not be enough for that and your financing amount will be over 450k. Personally, that would be too much for me, especially since you don’t have children yet and there will certainly be more expenses. I would rather build smaller and leave out the double garage.

Best regards
Sabine

According to the architect, about 30,000 can be saved if we don’t build the terrace right away and don’t finish the attic. The architect also said that the calculations were made completely without any personal contribution, and of course, you can save quite a bit here. We would do quite a bit ourselves where possible, but of course, I find it hard to estimate what can be saved here (the architect said about 30,000–40,000 €).

I definitely didn’t want to borrow over 400,000 €, otherwise I already have a stomach ache...

Better to plan it as a buffer, you will need it.

Exactly, the 30,000 euros are quickly spent during the selection process.

Best regards
Sabine

Is the property already paid off?

Is the property already paid off?

Yes, but demolition costs are added ... I don't know much about house prices. However, refinancing can be very expensive in a subordinate position. Better to calculate seriously. An architect also tends to want to realize himself ;) I can't imagine that for 450k the house, outdoor area, demolition, and architect costs are covered.

We would do quite a lot ourselves where possible, but of course I can barely estimate what can be saved here (architect said around €30,000-40,000).

I definitely didn't want to take out more than €400,000, otherwise I already have stomach aches....

€420,000 is realistic including a double garage, that's what we also paid (with a single garage though with additional building costs). However, we also did the wallpapering and laid the floors ourselves.

Best regards
Sabine

In this heat, I can no longer think clearly. So apologies in advance for any mistakes.

You want to borrow a maximum of 400,000 and have 70,000 equity.

All in* it may cost 470,000.

*Demolition
Architect's fee
Additional construction ancillary costs
Kitchen and new furniture
The house itself
Outdoor facilities

Could be doable, but requires a lot of discipline from you. For example, I don’t even want to start calculating what the new furniture alone costs, which you then still want or often need.

What I don’t understand at all, however, is why the terrace and attic expansion come so expensive – or so cheap? Depending on what is included in that item, I find it too much or too little.

By the way, we moved in at the end of 2017 and were already annoyed in June not to have a terrace yet.
Meaning: don’t save at the wrong end.