Is the financing realistic? Is personal contribution necessary?

Hello everyone,

I have newly registered here because the idea of building a house is becoming more concrete and I am starting to gather information.

I wanted to ask you whether my plan is realistic given my circumstances.

The basic idea is to build a house with 2 separate apartments, where I want to live with my girlfriend and my parents will live in the second apartment.
There is about €50,000 in equity.
My income is €2100 net.
My parents' total income is about €3000 net.

Our idea is to have a wooden house built without a basement. The wooden house should come from Estonia since my father has the corresponding contacts through his self-employment.
The house costs about €60,000 - 70,000 without the foundation slab.
For the plot of land, I am planning about €100,000 - 150,000.
Roughly estimated, I calculate about €300,000 needed for the entire project.

In your opinion, is an appropriate loan from a bank realistic? How is a loan usually divided in such a case? For example, do I take the whole amount or does it make sense to split the project into two loans (me + parents)?

Thank you!

Hello,

The house costs about €60,000 - €70,000 without the base slab.
For the plot, I am planning about €100,000 - €150,000.
Roughly estimated, I calculate €300,000 needed for the entire project.

Hmm, what exactly is included in the Estonian house; or what do you still have to do yourself - apart from the base slab?

Kind regards

Hello,

so basically the shell is provided. The interior work must be done by yourself. They can deliver the windows, but I would possibly want to choose them here myself. Stairs and doors are included.
As for the insulation, I have no information yet - but in case of doubt, I would assume that it must also be done by yourself.

Regards
Alex