Evaluation of new construction financing

An RLV for coverage would then be worth considering in your case.

What does RLV mean (googling only finds abbreviations that are probably not it)?

Term life insurance

What does RLV mean (Googling only finds abbreviations that probably aren’t it)?

Term life insurance. It doesn’t have to be a fixed amount; it could also decrease with the outstanding loan.

You all have quite different salaries. That would allow maintaining the property in the event of death.

But first, let's check whether something like this is already partially covered by other insurances (BU / Altersvorsorge).

If I read this correctly, your financing is missing the kitchen, say 15,000 euros, and furniture and equipment to be purchased, which we will estimate at 10,000 euros. This would completely use up your equity capital without leaving any reserves for other things.

As long as both of you are working, this financing is reasonable in itself; I would only include the aforementioned items in the financing.

However, once only parental allowance for the second child comes in, relatively little remains. It would be sensible to have a reserve for 1-2 years that you could access if necessary.

And regarding the conditions: Our project is almost identical (395,000 financing with 40,000 equity), we get 2.15% for 15 years + KFW 124 and 153. Unfortunately, it has risen somewhat in recent weeks...

Why should a kitchen be missing? Maybe he has a new one and takes it with him.

Sometimes people here worry about things where it’s really not necessary. That as such is not even that bad, but then always assuming something right away instead of asking.

Even with parental leave, one should ask more than assume and speculate if one wants to help credibly.