Is the construction project affordable? 570 k€ loan with a 5300 € salary

Is this actually a developer house or are there still adjustment options regarding the costs? For example, we initially only have an empty conduit for a photovoltaic system. The system will come in 15-20 years or earlier or maybe not at all, we'll see. But 15k more or less loan makes a big difference given the loan amount to income ratio.

We also have 5k net now without children and special payments, and for us, a 470k loan was already considered (too) much. So I'm surprised by the consensus here. That might still work, but for us, 500k was the absolute pain threshold.

Is this actually a developer-built house or are there still levers to adjust regarding the costs?
For example, we initially only have an empty conduit for a photovoltaic system. The system will then be installed in 15-20 years or earlier or maybe not at all, we'll see. But 15k more or less credit makes a big difference given the credit amount-to-income ratio.

We also have 5k net now without children and special payments and 470k credit was already considered (too) much for us.
In this respect, the consensus here surprises me.
That might still work, but for us 500k was the absolute pain threshold.

If the original poster had said from the start that only €5k was available, the majority would have dismissed it. But I think he already realized that this won't be a walk in the park.

Is this actually a developer house or are there still levers to adjust costs? For example, we initially only have an empty conduit for a photovoltaic system. The system will come in 15-20 years or earlier or maybe not at all, we'll see. But 15k more or less credit makes a big difference with the credit amount-income ratio. We also have 5k net now without children and special payments and we were already considered to have 470k credit as (too) much. So I am surprised by the consensus here. It might still be manageable, but for us, 500k was the absolute pain threshold.

Regarding the photovoltaic system, there is no lever to adjust. We cannot remove it. Who considered the 470k € as too much? Here in the forum? Or from the banks? Have you already completed financing? You write that you have a similar income. I would be interested to know how much credit you have taken? What is the monthly rate? Are children planned with you?

Regarding the photovoltaic system, there is no lever to adjust. We cannot remove it.

Who judged the 470k€ as too much? Here in the forum? Or by the banks?
Have you already completed financing? You wrote that you have a similar income. I would be interested to know how much loan you took? What monthly installment? Are children planned with you?

There were critical voices here in the forum. The bank would definitely have given us up to 500k, above that one would have to look more closely, our advisor said.
We now have the 470k and will manage well with it, as it looks at the moment.
Our rate is 1800€. We want to have 2 children in a few years. But we can currently save a lot so that until the children come we can repay special installments or, above all, save a liquid reserve.

But both of us also have parents who can support us sometimes with the children.
Both when it comes to childcare and initial equipment, bicycle... other more expensive purchases. Without this support, I would have serious concerns.
On the other hand, our salaries are rising significantly, so maybe in a few years it will possibly be much easier than currently thought.

1800 euros is quite decent

How high are the interest rates?

And why does the bank say that, do they know you?

Do you have no equity?
And how is the salary distributed if the woman earns more and she goes on parental leave, it's clear that it will be tight.

Thank you very much, that actually makes me blush.

Personally, I actually went back to work after one year, at 75%, and with the second child at 50%. But that was due to my employer's wish; I could have also done three quarters again. I had no problem with that, as an "Ossi."

Do you really want to say that no one has ever thought of setting aside a reserve for the lean period? That is actually obvious.

... I went back to work after three months. We couldn’t afford more.