What financial framework is possible for the planned house construction?

Hello everyone,

I have been following you for some time now. My partner and I are currently considering building a house.

I am 29, permanently employed Stk1 3000€ net
She is 30, currently on parental leave and will start her teacher training (Referendariat) next September. Income after deducting private health insurance about 1400€ net. After 1.5 years as a civil servant teacher with permanent employment about 3000€ net.

The rent including utilities is 780€

Current equity:

Savings account: 20,000€
Building savings contract: 4000€ is already eligible for allocation (total 10,000€, 6000€ loan is at 1.99% interest)
Building savings contract: 1600€ (total 25,000€ with the same interest rate)
Savings book with 7000€, but this should serve as a safety reserve

We will get married next year. So STK 3 would be possible for me.

Currently, I am looking at a developed plot of land where everything needs to be demolished.

The plot costs about 7000€ including notary fees and registration in the land register. I already have an offer for demolition. This amounts to about 5000€

Because of the old property, electricity, fresh water, and telephone lines are already on the property. However, since it has not been inhabited for a long time, a new water connection may need to be laid. Costs about 1500€. For wastewater, a biological treatment plant must be installed on the property. Costs about 5000€. However, there are special financing options for this through the federal state. The advantage is that no wastewater fees are incurred. Someone only comes twice a year to check the system.

We imagine a detached house with a size of 130-140 sqm built in a solid construction method. If I now assume about 1700€ per sqm, we are between 220,000 and 240,000€. I would do the electrical work and tiling myself. We could reuse the kitchen from our current rental apartment. We drive a fully paid-off car that is 3 years old. There are no loans. No further children are planned.

The plan is to acquire the plot soon and to prepare it for construction peaceably in 2017. Building is planned for 2018.

Scenario 1

My wife cannot start her teacher training due to the child. So I would then have a net income of 3500€ with STK 3. I would accept a maximum installment of 1000€. Is that possible?

Scenario 2

My wife starts the teacher training as assumed above and then full employment. In this case, I am not worried. The installment can even be higher.

What do you think about this?

As always from me: is it confirmed where she will do her internship? What are the chances of getting a first position directly with you?

No, this has not been decided yet. However, in Saxony-Anhalt it is taken into consideration that one has a child. Furthermore, she has a subject combination that is in short supply. If, against expectation, she is sent to the middle of nowhere, the internship will be canceled and she will look for another job with her degree. For me, it is therefore crucial to know what financing looks like with only my salary.

If she actually has a prospect of becoming a civil servant, it would be pretty stupid to skip the preparatory service. If your child really is not able to be cared for by others, you should seriously consider taking over the care so that she can do the preparatory service. As a civil servant teacher, she will then have no problem getting a loan for building a house. And if you can still earn extra money at some point, all the better.

the teacher training fails and she looks for another job with her degree.

and how long did she study so that the teacher training fails?

She studied teaching for vocational schools in business/administration with a minor in mathematics for 5 years. That means she is not necessarily dependent on a teaching position in that sense. And if I take care of the child and she has to do her teacher training somewhere in Saxony-Anhalt, live there somewhere. Then we manage with 1400 net? Sure, becoming a civil servant is great, but not at any price.