Uncertain due to financing

Don't forget the (purchase) additional costs in your calculations!

and delight the bank.

Well, I like to hear that very much.

We want to live in a nice house instead of pleasing the landlord and please the bank. After about 20 years, sell the house again, if you want even as a break-even deal, and then see what is possible with life insurance, possibly inheritance. To break even, we would have to sell the house for about €250,000. That is currently far below market value. Whether we use the life insurance as repayment or not will be seen then..

this is all pure speculation and quite risky. Just because you no longer pay the landlord but a bank instead doesn't mean you will eventually become rich. As long as the rent is significantly lower than the financing amount, you could instead invest the saved money. Although returns are currently poor, it's still not guaranteed that the house will yield more in the end. You build/buy a house because it provides more living comfort.
You must not forget the costs to maintain the property's value. If you build new and want to sell in 20 years, you will almost certainly need to replace the bathroom at some point, replace the heating system, and renovate other things. Otherwise, you sell a house with maintenance backlog, and buyers often charge twice for that.

No one really knows the prices houses go for on the big portals except the buyer/seller. Very likely, there was major renegotiation in the end, especially where demand isn't that high. Good houses never end up on ImmoScout (etc.) anyway but are sold directly by the real estate agent (he has his customers on a waiting list; when something comes in he calls 4-5 people and the property is gone without ever being listed online – the reason why you usually only find junk online).

This is exactly the direction of the consideration. After 20 years, my wife's life insurance will also mature. We have 2 children, although the little one would prefer a horse to a house

We want to build on the Hessian Bergstraße. Centrally located between Mannheim and Frankfurt. Very good highway and train connections. We currently have a loan amount of approximately €260,000 with 1% repayment and 2.4% interest over 15 years at one bank and 2 x €50,000 at the KfW (0.85% and 1.35%). This results in a monthly burden of €1065.00 + additional costs.

Yes, hmm. So the point is to pay off your financing as quickly as possible. The longer the term, the more interest accrues. Of course, if the monthly rate then becomes too high for you, I can understand the consideration to set the repayment low. But 1%, no one really does that, it is rather warned against. Of course, shady building financers like to push such financing on you, for them closing the deal is everything.

There were recommendations here to go for the 20 years, I would do it that way too.

What will happen in 20 years, nobody knows... Maybe by then we already belong to the great empire Russia or China

Regards

We now have a loan amount of approximately €260,000 with 1% repayment and 2.4% interest over 15 years at one bank, and 2 x €50,000 at KfW (0.85% and 1.35%). This results in a monthly burden of €1065.00 plus additional costs.

This can become a classic killer financing. After 15 years (if no / few special repayments are made), there will still be a huge chunk of debt left. If the conditions then tighten (which I personally consider quite likely), even minor increases will lead to a sharp rise in monthly burdens.

If these additional burdens cannot be largely offset by increased income, things will get really tight.

that is of course correct. however, in 15 years you also earn a good amount more (let's see what you earned around the year 2000). I personally think that you should have paid off your [KFW] portions by the end of the fixed-interest period. because then there is only one loan left and you can offset higher interest rates with the amounts freed up from the [kfw].

we have 2% repayment and 1.92% interest for 20 years and a 220,000 mortgage (and 0.85% on 50,000 [kfw]). [kfw] is paid off after 20 years (after 10 years it can of course become more expensive due to higher interest rates). without large extra repayments, we still have 100,000€ left after 20 years. but that will not happen like that because in a few years we will increase the rate. it is currently set very low at 950€ total monthly payment. the plan is to make extra repayments of about 2,500€ per year in 3-5 years (everyone adds 100€ per month), so that we end up with around 60-70,000 remaining debt. then the interest rate is almost irrelevant, because the last euros go down quite quickly. you also have enough time beforehand to arrange any plans. if interest rates rise slowly after 15 years, you can also prepare a building savings contract for 5 years.