How is a 400k loan financible without equity? Net equity at €4,500

we have already factored that in. Therefore less money when the child arrives. But as soon as the woman works more again, logically there is more money. We calculate 500€ per child. Why the immediate accusation that one cannot calculate?

I’m not sure how it works with civil servants, but here’s our view with currently 1 child who is 10 months old:

There is parental allowance for 1 year. We split it for a few more months. When the little one is 1.5 years old, I will go back to work.
Going back to work right after 1 year will be difficult because: daycare centers usually only accept children from 1 year old. That means, unless your child was born exactly in the daycare’s opening month, you either have to have him looked after later or find another way to bridge the time if your wife is supposed to work again.
Also, a child needs to be gradually introduced to daycare. You cannot just drop them off and rush to work when they are 1 year old. This can go smoothly or can be tough, depending on the child.
Daycares cost money. If you earn well, it’s not too tight, especially in rural areas (at least for us).
We have to tighten the belt a bit for 1-2 years until the little one goes to kindergarten. Vacations will rather take place within Germany (which is nice too). The daycare costs us about 400€ per month in the first 2 years.

It is the same for us. We will have less income during parental leave. A whole 95€. Thanks to legal promotions and step increases, after parental leave we will have about only 250€ less than now even though we will both reduce our working hours by 30% each. It is all very individual and you just have to calculate it for yourself.

Ultimately, I am grateful for the exchange of opinions. Only in this way can one form an impression. So thank you very much in advance!

My wife definitely wants to work again after one year

Full-time? I am aware that there is a family allowance and subsidies for private health insurance, but that will hardly compensate for the 33% loss, and even less so if capped at 1800 EUR/month. By the way, some youth welfare offices are willing to negotiate so that the child can start receiving subsidies even before one year.

and driving the horror scenario of unemployment at a global corporation is also not so realistic

Does a global corporation lead to a global economic crisis? It is very easy to forget that the last 10 years were a golden decade, most likely on credit. The opposite direction also exists, and global corporations are quite dispassionate about that. At least it should be considered mathematically in a scenario.

In case of emergency, your partner will have to step in with the only really secure civil servant position. Does that work for you? Also with childcare then with you?

I think that for you not being that young anymore, you haven’t saved enough. The real question is whether you are now ready to start saving extremely? That certainly won’t be easy. The way you have calculated everything, it can work, but not much else can happen alongside it. If the financing offer fits and the repayment rate fits, you can do it. It definitely comes with some risk, but it’s certainly doable if you start saving really, really well. But really be careful with prefab houses à la Hanse Haus etc (by the way, we also had contact in the beginning). They all squeeze some more money out of you afterwards and there will be costs that are not discussed at the beginning!