Maximum and reasonable credit amount

Hello,

it's all a question of how much you want to take on. The bank will certainly cooperate with a monthly rate of up to 4000 euros. Equity might be a bit tight, depending on the total cost volume of the project; you will probably have to provide more proof here. With that, you can easily calculate what loan volume is feasible.

The 3000 euros from the rental property can actually not be taken into account. When the "tenants" have moved out, the place is dilapidated and needs to be renovated. For that, reserves are needed. Unless the taxpayer also covers the renovation.

Best regards

As a bank, I would also give you significantly more credit. Flat 50% (with such incomes) of the net income as installment is quite justifiable. That would be a financing of 800k. And honestly? You would still have more net income left than the average family earns at all and from which housing costs also have to be covered.

In the end, it’s a question of which risk perspective you want to adopt. Personally, given your wishes and the expensive land prices, I would initially increase my equity significantly until the end of parental leave (or until the second pregnancy) and then only start building the house in order to meet all wishes.

Renovation is not contractually agreed. Possibilities of use after the end of the rental period are at least from an economic perspective not good for the property. Therefore, disposal with 250-300k is sensible and, in my opinion, also achievable.

What I mean is that a) the remaining loan can be paid off with the proceeds from the sale and b) a rented property is no longer particularly interesting since the tax component disappears.

With the rental income? Let’s just take that out as unsustainable (what would be sustainable after the lease expires in 2027?), and there are still 6k left. Then I would still imagine a 600k financing—that’s temporarily 50% of the net income. But whatever.
Your wife is a civil servant and therefore has no job problem.
It’s only about parental leave anyway. After that, things look better again with 7.2k after childcare and before additional rental income.
600k financing with a 5% annuity is a 2.5k payment and thus 35% of the net income (before rental income). Then you have 4.7k left for living expenses per month, which is more than generous for a property.
As a bank, I would clearly give you much more credit as well. A flat 50% (with such an income) of the net income as a payment is well justifiable. That would be 800k financing. And honestly? You still then have more net income left than the average family earns and still has housing costs to bear.

In the end, it’s a question of which risk lens you want to put on. Personally, given your wishes as well as the expensive land prices, I would initially significantly increase my equity until the end of parental leave (or until the second pregnancy) and only then start building the house in order to meet all wishes.

Our tendency is also currently to continue renting until after K2 and then to build/buy. I just wonder if we are being too risk-averse?!

Would you also be willing to pay these 50% above the standard land value if those apparently are the market prices?

Then both full-time afterwards? Have fun, you are imagining it very easily with a 1-year-old. Should the toddler go to daycare for 10 hours every day? That only works where it absolutely has to for financial reasons. With the second child, the parental allowance is then lower because one has gone part-time. And with 2 children spaced 2 years apart, you can completely forget about full-time.