We are planning a single-family house - are our financing considerations correct?

Oh, so 77, 78 on the ground floor, little knee wall and air space, then it fits.

Hello, I can't say anything about the construction costs but you can tell from the first posts that things "should be fine-tuned" here. I'm having trouble with the financing. On the one hand, good equity through interesting actions (Company sold), I see a problem if it gets expensive and children come. Your income/expense situation will change. That means if you have to finance more, the belt will have to be tightened. But apparently you live minimally anyway due to a good savings rate.

First of all, many thanks for your input.

You have 210sqm living space plus 30sqm basement area, plus a double garage, then photovoltaic ... I'm at 500,000.
Plus exterior facilities and additional construction costs, I'm at a minimum of 560,000.
600,000 including kitchen and such is what I would calculate, saves refinancing.

We already feared that the basement would be more expensive than expected. We had 80k€ in mind, but if the 50sqm are calculated the same way as above-ground living space, the basement will of course be more expensive. We do not need the living space in the basement immediately; it is optional for us at the beginning. Here we could also imagine bringing in finishing work ourselves, e.g., interior plaster, floors anyway. The advantage is that we then also have enough time for the finishing work. Heating and electricity must be done directly during construction.

How high have you estimated the kitchen, photovoltaic, and double garage in your calculation?

I understand it more as 160 sqm, of which 50 are in the living basement.

That was unclear on our part. We did not include the area in the basement.

I see a problem if it becomes expensive and children come. Your income/expense situation will change.

Definitely, that’s why we set 400k€ as a maximum and would rather reduce the house then. For two children, we calculate about 1000€ expenses plus the lower salary in parental leave and part-time. But that should still be easily possible with the indicated rate. Of the 650€ rent costs we pay now, about 200-250€ remain for repayment after deducting ancillary costs for the house.

Did I understand you correctly that you say green light at 400k€ and difficult with additional financing? Or do you already see stumbling blocks at 400k€?

How high did you estimate the kitchen, photovoltaic system, and double garage in your calculation?

Kitchen flat rate 10-15000... Photovoltaic I don’t know, I just rounded. With a flat calculation, you should always round up the 10000 on the high side because you need a buffer everywhere. Mostly it’s like this: you round up 10 items, and then it barely fits because you forgot quite a few things again. (For example, chimney/calculated chimney 8000, then calculate 10000, then you still have the forgotten piping or the more expensive design you choose later included.)

Definitely, that’s why we set €400k as the maximum.

In 2019, the average calculation was €2000/sqm living area for the 2016 Energy Saving Ordinance. Basement with 1000/sqm.
Then you have an expensive double garage, the costly photovoltaic system or KfW... it just is what it is: normal earners (like you are) can hardly afford a double garage, a basement, or photovoltaic... somehow some manage one or the other, some are subsidized by their parents, others like you have good starting capital (equity). Others build with a lot of labor themselves or in the cheaper North...

Your wishes include quite a few extras... you have to decide whether you want to spend your equity on that or rather plan based on the living sqm modestly and instead only install better technology like photovoltaic or controlled ventilation.

For me personally, modesty is quite important and more likeable – and if you don’t have well-earning bankers and academics who also build in your circle of friends, then oversized projects can quickly seem unsympathetic and out of touch. But that’s up to you.

We don’t need the basement living area immediately, it’s optional for us at the beginning. Here we could also imagine contributing some labor ourselves, e.g. interior plaster, floors anyway. The advantage is that we then also have enough time for the labor. Heating and electricity must be done directly during construction.

That is of course one way to save money. The question is what you will later pay for it with. Your salary now will not have great saving potential. If parental leave then also reduces a salary, that can be stressful.

That was misleading on our part. We did not include the area in the basement.

Then Yvonne is right - unfortunately also with the note that this living space will not be given away for free in terms of price.