Question about construction financing

exactly .. the plot is included as well as the house.. We basically had the house completely planned by the prefab builder and had the services we take over deducted.

Low net income. Children already there or planned? Then it will be even tighter. Large jumps in salary possible? Probably not. So you will have to restrict yourselves all these years.

How old is your husband?

When children come and you either don’t work or work part-time, it will become very tight to impossible.
In addition to the financing rate, there are additional costs + maintenance depending on the size of the house.

You will surely find a bank that finances it.
With a rate of €1060 at 2.09% interest + 3% repayment, fixed for 20 years, the loan would run for 25.3 years.
Remaining debt €64K
The question is: do you want that?
For 25 to 30 years, you will live more or less for the house and have little room for maneuver.
When children come, you will almost run out of breath.

Are the €250K calculated with a sufficient buffer and well done?
It seems low to me.
A follow-up financing would break your neck.

Hello Claudia,

without breaking down the invoice, nobody can say anything about it.

Land = 40,000
Additional costs incl?

Development? Earthworks? All the ancillary construction costs? (There are quite a few things that prefab house providers don’t usually point out in such detail)

House = x? Which level?
Own labor material = ?
Outdoor facilities = ?
Carport/Garage =?
Kitchen=?
Furniture, lamps, etc. also have to be paid from equity?
Buffer?

And so on

Otherwise, no one can assess whether it makes sense.

Well, the income is clear enough, but the conditions are otherwise not so bad. Only the future income situation regarding children / part-time work should still be examined. I understood the project like this: 280k total costs, of which 250k is credit. Because of the age, you can initially repay 2% with a 15-year fixed interest rate. That results in a good interest rate of 1.7% with a rate of ~970€/month. Remaining debt is a significant 122k. However, you would only be in your early 40s then, so I wouldn't be worried. Are the material costs for the [Eigenleistung] already included in the costs?

Somehow sad, the man is an expert (almost nothing beyond that is possible) and the information given is just nonsense. Really bitter.