Is house construction financially feasible?

Hello,

after a long time of silently reading along, I now have a few questions for you.

We, my wife and I, both 30 years old, are now dealing a bit more intensively with our intended construction project.
Without going into detail about the construction itself, we are faced with the big question of whether we can actually afford our wishes and ideas.
We are looking forward to your assessments and comments.
Regarding the situation:
Building plot available, purchased from equity. Value according to land reference value = €270,000.
Additional equity approx. €110,000, which can/should be used directly for the construction project. Additionally, about €50,000 in reserve, but this should actually not flow into the construction.
Net income approx. €7,000 per month, whereby we only want to plan with €6,000 per month for the construction project, as one or two children are planned in the near future.
Average monthly household expenses over the last 20 months are approx. €2,400, whereby we live quite cheaply (rent + additional costs only €550 per month).
No large purchases are planned outside of the house construction in the near future.
Now regarding the costs of the house construction according to first offers:
Turnkey house including floors, walls, ceilings, etc. €530,000.
(Hopefully) all other costs that arise to really finish the house, such as earthworks, outdoor facilities, furniture, etc. approx. €80,000.
Thus, a loan of about €500,000 is required.

There was already a non-binding appointment with a credit broker some time ago. They informed us of a credit limit of up to €800,000.
But that would be way too much for us.
We could imagine paying a monthly installment of €2,000 for the loan.

Without really concrete questions for you, I would appreciate your assessment of the situation.
If you need any further information, I will gladly provide it.

Regards Wesergold

Looks like things are going well for you, I would say.

With the desired loan amount, you will end up well below 2000 pM, thanks to the good loan-to-value ratio and the current low interest rates.

If not you, then who?! Otherwise calculate seriously so that you don’t have to provide additional funding... oh wait, there’s still 50k lying around

Many people want to be this relaxed on the go. Thumbs up, this will go well for you!

Absolutely perfect starting position. It doesn't get much better than this.

The conditions are good to have a house tailor-made; consider the combination of a local architect with local craftsmen. Nice that you do not want to push the boundaries.