Your expenses of 2,800 are enormous
I think so too... although part of the costs are explained (leasing), that is not helpful for the financing of the house construction.
It significantly relativizes the income.
Thus, there are barely 1,700 available for house and farm, including kitchen, furniture for the move, and later garden/acquisition costs. With one child or parental leave, it looks bleak.
Ideally with a basement or at least partial basement
Haha... when I read the words and numbers of 160 sqm with double garage, I thought "sure, now all that’s missing is the basement" ;) But it’s not funny at all.
initially limited to 2 years
annual increase without promotion approx. 8%.
Hmm, well in the public sector here, positions will be rigorously cut over the next few years at the expense of others. Those who can leave will leave. Zero raises are expected in the coming years, and not only that: demotions in pay grades have been announced.
But that may not concern you or you might not have it on your radar.
In any case, you probably see your income as better than it is. It’s okay if there were still equity or if the kids were past the worst... But you’re just starting out. The bank sees that too, and the fixed-term contract definitely plays a negative role!
It’s a bit hidden in the original post. :) Approximately 160m² are planned, a basement would be nice (but is not a must-have if it comes down to it), own work will be limitedly possible thanks to some acquaintances and family members.
Well, here people also build 129 sqm with a single carport – if they have no equity. :rolleyes::p
400,000€ (160 sqm x 2,500€)
80,000€ basement
30,000€ outdoor facilities
50,000€ incidental construction costs
25,000€ kitchen, lamps and miscellaneous as own equity
purchase incidental costs as own equity
plus land
My personal advice: wait. You’re not there yet. Neither financially, nor trained or in permanent employment.