Is the construction financing realistic? Is the burden okay?

Hello,

we would like to build. So far we have not been to any bank.
Our data:

Income: 3100 net
Building plot: available
Equity: 35,000€
The house would cost 285,000€, feasible? The installment calculators online calculate about 1200€ burden. Is that realistic?
Regards

How high do you estimate the total costs of the construction project to be? Have you considered that you will have about €30 in additional incidental costs per month? How secure is the income? Keyword [Babypause]. What other monthly expenses do you have... car loan etc...

you certainly meant 300€ additional costs :) total costs according to the provider 285,000€ (complete, we already have the [Grundstück]). income is secure (wife’s salary not included here). liabilities? no loans, but 2 dogs, 1 horse=350€/month

Without knowing the details, I would say the house price is okay, as long as no 180 sqm house is planned. I also assume that the offer includes a basement. I also don’t know what the house provider stated for additional construction costs (probably something under 20,000), but you can definitely count on 30-40,000.

If the net income is only your salary and your wife earns extra, it looks to me like you definitely plan to manage the building project on just one income. That’s exactly how we do it as well. Then you always have the second income as a buffer (even if it’s only 400€ a month). This buffer can be used for special repayments.

But I would recommend consulting an independent financial advisor and having your financial situation calculated. We also did an analysis and defined our cost framework. Some costs that we only pay once a year weren’t entirely familiar to us anymore, but they added up. In any case, it’s interesting to have an outsider take a sober look at it. :)