Is the basis for home financing provided?

Hello,

and my first post here in the forum comes with a question. I am currently not in Germany. However, this gives me some time to think about how things should proceed after my return to Germany. At least in my private life, the dream of owning a home (house) still exists. I hope I can realize it as well.
My return is planned for next year, but since I am slowly reaching an age where time regarding financing is ticking faster, I would like to get an independent assessment of my situation here.

About me:
Male, 36 years old, single, and skilled in craftsmanship (learned). There are also some craftsmen in my family.

Financial situation:
Income after my return will be at least 3,000 euros net per month.
Equity will amount to approximately 100,000 euros next year.
I could imagine a monthly payment between 1,200 and 1,500 euros.
However, I am aware that banks grant loans at most until retirement age.

During my last visit to Germany, I walked through a model house park and looked around a bit. I have also already inquired at my house bank, from their point of view financing would not be a problem. However, in the end, they just want to sell you something. I don’t want to mention a number here, as otherwise, the focus will immediately be on it.

Possible special repayments:
I currently have two building savings contracts running, which are not yet eligible for allocation by the planned time of realizing the home project.
However, I could use these for special repayments:
25,000 euros in 2025
45,000 euros in 2035
This would need to be clarified with the bank in detail regarding implementation.

My wishes for the house:
Region - Southern Hesse
Rooms:
Living room
Bedroom
Dressing room
Kitchen (separate)
Study
Bathroom (seamless, I hate tiles)
Entrance area with wardrobe separated
Storage room
Technical room
No basement
There should be enough space in the technical room, bathroom, or dressing room to set up a clothes drying rack.

Living space: 120-140 sqm

Outdoor area:
Garage (carport optional)
Extension to the garage or a garage large enough to also set up a workbench, etc.

Garden minimalistically designed, lawn finished. However, with a terrace for sitting comfortably and grilling in the evening. I do not want or need a lot of space with hundreds of square meters. Weeds just create unnecessary work.

Do you think my financial framework allows my wishes? If yes, do I already have to make mental compromises or is there still room for special wishes?

Thanks in advance for reading :)

Hello, basically you have a good financial leeway, but I wonder how it is supposed to work in the long run?

I would, in your position, first come back calmly and then survey the market. Especially since the search for a plot of land can also take some time.

It is also the question of what the plot + house costs and what you ultimately have to take out as a loan. You might possibly fail because of that.

You wrote that you are skilled at handiwork. Is an existing property not an option?
For 100k you can get a "schäbbschenhaus" in some Hessen regions.

Do you already have a plot of land? Or rather, what do they cost in the area you want to move to? Based on your information, <500m2 would be sufficient for you. That still fits within the budget.
The house costs around 240k-280k + incidental building costs.
You can reduce that somewhat with your own labor.
Are the building savings contracts included in the 100k or on top of that?
In theory, financing is also possible beyond retirement age. But please don't do that.

If the plots of land are not exorbitantly expensive and the building savings contracts are not included in the 100k, I see a good opportunity here.
Financing for a maximum of 20 years. The building savings contracts for special repayments.

Financing over a maximum of 20 years.

Why?

I see no reason (unless one wants to be finished early) to necessarily enter into financing with a short term. If at retirement there is still a manageable remaining debt, that is also okay with me. After all, it may be that the OP also wants to "live" in the meantime.

I personally would not extend it into retirement age. With the special repayment options, it should be quite feasible in 20 years. By then, maintenance work will also come up and the income will probably decrease. But as long as the OP doesn't provide more information, it's all speculation anyway.

I would also like to explore the market for existing properties.