Who first built a smaller house and extended it?

As I said, I have just started ;-)

We will do that too, even though I would like to save the 30,000€ for five years of rent :-)

My current net income is about 3.1k at the moment and we have taken out a loan of 275k (construction is currently ongoing).

Since I have 2 children (8 and 1) and my girlfriend only receives 150€ parental allowance, I chose the loan so that the monthly installment is only 1000€.
That, of course, is not enough to repay the loan within a reasonable period! However, I have 10% special repayment and fixed interest rates for up to 30 years.

In other words, I only "have to" pay 1000€ monthly, but can pay significantly more if there is enough money left over.

With child benefit and parental allowance, we then have about 3600€ net income available in total, and it shouldn’t be much less than that... if I had a significantly higher installment than 1000€, we would have to restrict ourselves here and there... and we do not live luxuriously.
We could get married, of course, then there would be a few hundred € additional per month...

In September my girlfriend will start working part-time again and then about ~1050€ will be added (1200 - 150 parental allowance).

About 400€ more will be saved for special repayments, so the installment will initially be at 1400€/month...

This is just an example of what financing can look like with children, etc... flexibility was important to me so that in an emergency it can be managed with only one income... therefore low initial repayments and high special repayment options...

Why is that nonsense? Even my bank advisor agrees with me!

Then I would consider changing the bank advisor. Just calculate it yourself!

My current net income is about 3.1k at the moment and we took out a loan of 275k (construction is currently underway)

Since I have 2 children (8 and 1) and my girlfriend only receives 150€ in parental allowance, I chose the loan so that the monthly rate is only 1000€.
Of course, that is not enough to repay the loan in a reasonable period! However, I have a 10% special repayment option and interest rate locks for up to 30 years.

In other words, I only "have to" pay 1000€ monthly but can pay significantly more if there is corresponding money left over.

With child benefits and parental allowance, we then have about 3600€ net income available, and it shouldn't be much less... If I had a rate significantly higher than 1000€, then we would have to restrict ourselves here and there...and we do not live luxuriously either...
We could get married, of course, then there would be a few hundred € extra per month...

In September my girlfriend will start working part-time again, and then about ~1050€ will be added (1200 - 150 parental allowance).

That adds about 400€ extra to savings for special repayments, so the rate will initially be about 1400€/month...

This is just an example of how financing can look with children, etc... Flexibility was important to me to be able to manage everything with one income if necessary... therefore a low initial repayment and high special repayment options...

That's roughly how I had imagined it too. Many special repayments, as I currently don't know what the future will bring in terms of salary.

1000.00 € per month in installments would certainly be a normal rate and affordable. Since the first children are only supposed to come in 6 years, there might already have been some salary increase by then. A certain risk always remains, of course, but then I think you shouldn't build at all and live your whole life in a 2-room apartment for 600.00 € warm rent – there the "debt risk" is zero.

Read up a bit in the forum, then you'll find out that it is not possible to build a house for €200,000.

.. that's simply not true ... if you don't have the appropriate experience, you shouldn't make such a statement :rolleyes:

.. that's simply not true ... if you don't have the appropriate experience, you shouldn't make such a statement :rolleyes:

A house for 200k is possible, no question, but it doesn't have any utility connections, no land, etc. :) That's why I already wrote once, 55% for the house of the total costs, in my case. Of course, this varies from case to case, but I would say the ratio remains at a similar value depending on the land, etc.