Is our new building realistically financeable?

You are right, suddenly several thousand may unexpectedly come our way.

I wrote this because I have seen equity and salary for 600K much higher several times in the forum and yet there were not always thumbs up, because you simply gave other perspectives here and I wanted to get feedback on what you think our problem areas are, what we simply haven’t thought of.

So if you can’t build with over 6k and such an affordable plot, then I don’t know either.

Many people write that if not all conditions are optimal. Take 2500€ monthly in hand, expect another 400€ additional costs and off you go.

Honestly, I would advise against servicing, for example, 2000€ or less as an installment and compensating with special repayments. The loan is too high for that and you are already too old at the first installment. Especially considering that you have quite a few expenses/positions that were adjusted to the income.

I still have one question about the basic situation. What is the plan for retirement? Do you want to stay in Germany or go back to your homeland? If the plan is not to stay here, it is also questionable whether it is worthwhile to orient one’s life towards a property that will just be sold once it is paid off.

It doesn’t matter. Buying a house is always a bet on the future. If it works out monthly, make sure to keep the remaining debt low (high installments/special repayments) or fix the interest rate until retirement. If it no longer fits then, it will be sold.

House financing is forced savings. If property prices haven’t completely collapsed in 20 years, you will have a nice sum together with which you can start retirement. Wherever that may be.

Interesting what you say about the 500€ EMI on 100000€. Unfortunately, at the moment we can’t put in more equity than the 50K (except for the 3 months savings left until the (estimated by me) contract signing + at most 15K borrowed from friends up to 10% + additional costs) and age is not changeable anyway :). Mainly I’m worried that not much can go wrong with such an amount and accordingly high installments. Currently we might manage and hope for the same for the next 20+ years!!

and moHouse
The pension is probably here because of the child if everything goes as planned, but we don’t have concrete plans since parents/in-laws are getting older and sudden changes can’t be ruled out.. but that’s another topic and I think we’re not alone in that, every expat has their own story :)

Sorry, I’m embarrassed but apparently I’m not able to use this quote correctly! :(

Thank you very much for your replies. In the next 2 weeks, there will be appointments with construction companies and then we can have more concrete numbers, which I will share here again for your comments. It is also better for financing offers and we will be able to get the installments and conditions more precisely.

Home financing is forced savings. If real estate prices haven't completely crashed in 20 years, you will have a nice sum together to start your retirement. Wherever that may be.

If you justify the house as an investment, you should also apply the standards of an investment to it. And in that regard, real estate performs relatively poorly, especially in terms of concentration risk and opportunity costs, but also with regard to ongoing costs. You can save without owning property; you just have to set up a standing order that transfers the money from your checking account on the 1st of the month.
That doesn't mean you shouldn't buy/build a house, but you should be aware that it doesn't necessarily justify itself as an investment. Especially when at least the builder would also be happy with an apartment ;)