Refinance existing loans with a construction loan

You need an advisor at the DSL Bank.

If you take a step back: in 20 years you will be of retirement age. After that, I wouldn't want to have more than 50k outstanding.

If you have a fictitious 1.3% interest rate, then you have a 300k loan and with 3.7% repayment, still about 40k left after 20 years. These plus

"8k Eigenleistungen 10k Eigenkapital"

are around 320k. For that, with great effort, you can get a small city villa with 120 or 130 m2.

But you might be able to realize your planned villa with the key data

"Stadtvilla 188qm auf 1400qm Grundstück Grundstückswert 155k"

on 700 m2 by splitting the land and build your villa with the 80k sales proceeds 30 to 40 m2 bigger... the city villa is very economical in its basic consumption anyway and even 700 m2 is nowadays a really large plot!

If you have such demands (Stadtvilla) and stretch the repayment over 40 years until apparent death, maybe you should think realistically. No one will give you more than 400,000 euros. And if someone lends it to you, you can be sure that you'll be taken advantage of. You might not notice it right away, but eventually, definitely. So maybe, if you already want the luxury house, think of a bungalow with 100 sqm. Then you might get with your own effort into a manageable area in which you can be debt-free at 65. Because that should clearly be the goal. Then you don’t need a financial advisor anymore, who should actually tell you that right away, but you can go to a bank where you can talk to someone directly one-on-one and don’t have to hide behind an advisor who only pursues his own interests and not yours. That should be clear to someone your age. Really very dubious the whole thing.

How much will the pension from both of you likely be?

Was about to ask how it should look if one no longer works full-time and there are two main earners. Judging by the current net incomes, you probably won’t be two civil servants in the upper service with a 5000 euro pension. So not a good idea.

We asked before planning the house what we could finance. Everything else would be stupid.

And which idiot told you that this would work?? It's really ridiculous