New construction single - Civil servant permanent service realistic?

Hello dear community,

I am planning to realize my dream of owning a house within the next 3-4 years.

About me: 27, single, 1 child (monthly child support), career soldier (comparable to upper service level).

I live in a relatively inexpensive area (plots between 20,000-30,000€), and I am repeatedly forced to commute for work. Nevertheless, I would like to fulfill this dream.

A small house with a large garage and a lift (for my hobby) without any other modern frills (a highlight would be underfloor heating) would already meet my requirements. Online, I come to costs for the house of about 180,000-200,000€.

My net income is then about 3,200€ per month. Unfortunately, I only bring about 25,000€ of equity, explanations on this I would like to spare here.

Monthly, I have normal single expenses and live very frugally. In addition, of course, there is child support for my 6-year-old son.

My salary will rise to about 4,000€ net per month over the years if the life situation does not change.

I am now wondering whether building a house makes sense under these circumstances or if all your alarm bells go off? Unfortunately, the market does not offer used houses.

What is the best approach when planning such a project? Simply go to the house bank or are there also recommendable independent advisors? Unfortunately, the financial sector is very complicated for a layperson, also with regard to saving capital, etc.

I look forward to your suggestions.

Best regards

For 200,000 you won't get a house. But your salary is good and the land is cheap. You also have some equity. Just plan 350,000 for the whole project and finance the 300,000. Then it will work!

Thank you for your assessment. I already suspected that the house would become more expensive. But I only have about 30 years left until retirement, so 300k is of course a lot. Interest rates are also a lot. Does a granny flat possibly make sense, which can be reintegrated into the whole house if needed? If that is even feasible from a construction perspective. I go on vacation once a year with my junior, I always buy cars cheaply used and do everything myself. Therefore, I find my expenses relatively manageable. But of course, there is the fear of overextending myself financially. You also have to calculate the incidental construction costs + interior furnishings. That already takes up a lot of equity. Regards

What I wonder: You want a house that meets your needs. Will you live in it alone until retirement, or will the topic of family eventually play a role?

Of course, one can see it differently, but as a single person in their late 20s, I wouldn’t tie myself to a property for decades that might/probably has to be sold in the middle of financing.

Use the time to save equity. My friendly opinion

PS: You can also rent houses.

Sure, I have already thought about that too. But does it make sense to still be building at 40-45 at worst? I want to be done with the financing by retirement, preferably 2-3 years earlier.

I don't want any more children, and the house should have more than just one bedroom.
Still, never say never. That’s why I imagine a simple little house where a family of 3-4 people can live.

But I understand your concerns.

Thanks already

The dream of owning a house is the longing to finally arrive, to be at home, to find a homeland, to settle down. But the career soldier service is contrary to that, constant new assignments, deployments, transfers, ... changing the duty station, possibly the police or customs might take you. Then settling down and possibly love will also work out.