Single-family house 1,000,000 affordability - monthly installment?

Then, given your salary, the big law firms seem to have really lowered their requirements :D No, seriously, if I could, I would do exactly that: exclude equity and invest elsewhere. Or rather, I would definitely treat myself to KNX first.

Maybe I can offer a slightly different perspective here, since we are building directly in Munich and I know very well the feeling of having to handle unfamiliar sums of money extremely quickly. In our case, even more abruptly, as the background was an unexpected and, so to speak, definitely not desired inheritance at this point in time from a close relative. We could have decided to still "keep it small," as was suggested in another thread here about Munich. That would have felt more comfortable to us at first, but in the long run, we wanted to stay in the city (now at the outermost city limits), and honestly, you have to move very far away from Munich to find a truly smaller scale. Even in my home district Erding (Dorfen), with 40-60 minutes travel time into the city, detached single-family houses cost just under a million; the dimensions here are unfortunately now truly absurd compared to rural regions in other federal states.

So for you, as for us, it is purely an emotional decision; rationally speaking, you already know that you can finance the house through very high equity, good income, and expected inheritances (which hopefully will still take a long time). From experience, I can tell you that you quickly grow into the new dimensions; to some extent, this is true for every homebuyer. Even if a loan of 200,000 initially causes sleepless nights for one person, for another, in the Munich area, those uneasy feelings only start at much higher amounts. Staying in a rental apartment when you long for a garden and space for the kids would never even occur to me in your situation.

Personally, I am more risk- and freedom-oriented and do not like to owe others anything. Therefore, as a couple, we decided to let as little as possible run through the bank, even if the stock portfolio probably yields more returns than the interest we would pay. The loan is small, runs comparatively short, and we feel more comfortable and free with it. Others shy away from turning fixed assets into liquidity and prefer to pay off manageable installments over 30 years; both are possible and very individual. And regarding "staying grounded": We feel the same way as you do. I now have assets, my partner has had a very good salary for years, yet we are still building a very nice but (apart from the location) quite normal house for us, allowing ourselves extras we absolutely want (fireplace, some nice kitchen appliances, great parquet flooring, high-quality bathrooms, and beautiful tiles) and skipping things we don't find worth it or consider overpriced, meaning no KNX, huge glass windows, no wood-aluminum windows, no built-in joinery, and no masonry garage. We both grew up rurally and were raised down-to-earth, which leads us to simply continue living as before and, when building the house, think carefully as always about what is really important to us and what genuinely creates beautiful memories and more quality of life. So, in your place, I wouldn't worry that you automatically lose your grounding just because that magical million figure is now on the house documents. Only a handful of people know the total cost of our building project; for everyone else, we are the same people as before, still shopping at Aldi, driving a 15-year-old beloved VW Polo, and being very aware that money can buy things and freedoms but never happiness and contentment.

To bring it back to financing: Be proud of your professional success and the accompanying salary and grateful for the financial family background that can let you sleep peacefully, especially compared to many other homebuilders. I would definitely fulfill the dream of the house and pay closer attention to the construction cost side to gain more security. For example, we planned with an architect in performance phases 1-4 because we thought our desire for a mix between a city villa and an American house would require it. In hindsight, our architect contributed very little to our self-created floor plan; we would have gladly saved those 18,000 euros and 3 months of planning time. I could never have imagined building with individual tendering in Munich, as it takes forever to even obtain offers, and there’s always an additional Munich surcharge on everything. So if you are still free to decide and don’t want a super individual architect house, I would get alternative offers from prefab house providers and regional solid house providers, who only add the Munich/Bavaria surcharge once and take care of all the coordination work for you and guarantee that the house will be finished within a year :)

I also don't see a real problem here. But I wanted to point out that I find it extremely sympathetic that there is once again a thread where the question is not translated as "How far can we squeeze our finances so that we somehow manage," so to speak ;). But a few more questions, I hope I remember correctly after so many pages: You already have a plot of land? And you have the condo? So it's "only" about the house? If the condo is too small for you, but the huge house is too expensive, then don't build so huge. It doesn't have to be such a palace if even the condo would still be enough for your wife. Just because you have money doesn't mean you need a huge house. If you want to conserve your capital and are content with less, then build smaller. Then your wife could probably live better with it and the house would still suit you when the children have moved out.

Conventional electrics for 50K €??? What exactly is included in that? Change it quickly or go straight to KNX. With these proportions, conventional should not be an option.