Set cost framework - How much can we afford?

Dear house-building community

We are a family with 3 children and have decided to build a house. My husband is 41 and I am 38 years old. We both work in the public sector.
Together, we have a net income of 5000€ per month (including child benefits). We have 80,000€ in equity saved up.

We currently live in 135 sqm and pay 1050€ cold rent + 350€ additional costs.
Monthly, about 100€ is spent on gasoline and bus tickets. We have 2 cars that are paid off.
Our living expenses amount to about 700€. School fees, club costs, etc., add another 250€. I also diligently pay my student loan every 3 months – 300€.

Income 5000€
Total expenses about 2600€
Balance about 2400€

Now we have our eye on a 750 sqm plot of land. We do not know the exact price yet. A friend paid 78€/sqm in the same area (09114 Chemnitz/Saxony) 3 years ago.

Now it is about roughly defining the cost framework for the time being. How high can the financing loan be at most? Can we afford the dream of our own home at all?
Thank you very much for your assessment.

https://www.hausbau-forum.de/threads/informationen-um-dein-finanzierung-angebot-bewerten-zu-koennen.18200/

Hi, it's best if you fill out the questionnaire here, then someone can definitely help you more precisely.

So 80,000€ equity and 5,000€ net income in the Chemnitz area sounds absolutely solid and affordable. If we now assume that you build new for 1,700€ / sqm, that results in 135 sqm = approx. 230,000€ (of course this varies depending on location, equipment, etc., but as a rough guide you can use this value). The ancillary costs must not be forgotten + any additional capital requirements because the construction is delayed or the equipment changes again. But with your equity contribution you are well positioned there. Accordingly, I would assume 80% financing (approx. 184,000€). With the stated creditworthiness, however, you can also finance beyond that (90%/100%) if the property value fits.

(approx. €184,000).

And the land? ==> Questionnaire!

How high can the financing loan be

The question is what is healthy for you or what the bank would give you? I would consider a loan between €300,000 and €400,000 healthy. The bank will give you significantly more.

Can we even afford the dream of our own home?

Definitely in the area where you live.

https://www.hausbau-forum.de/threads/informationen-um-dein-finanzierung-angebot-bewerten-zu-koennen.18200/

Hi, it is best if you fill out the questionnaire here, then someone can surely help you more precisely.

I used the questionnaire to create the text. Most questions are answered in the continuous text.