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Video: Child Benefit
2023 Author: Hannah Pearcy | [email protected]. Last modified: 2023-11-26 11:39
The housing market is tense in many cities. It will be difficult for young families to find affordable housing - let alone finance a house. Here, the Federal Government would like to specifically invest subsidies to increase the home ownership rate in Germany. With the construction child allowance, normal earners should also be able to build their own home. Here you can find out who benefits from the new funding and how to apply for the child benefit.
If you want to move into a house of your own as a family, you can now tap into a new fund to finance the construction of the house: 1,200 euros per child (each child is eligible who is not yet 18 years old = on the day of application) and year the federal government shoots. The child benefit is granted for a maximum of ten years and is intended to serve as security when financing the house through a loan such as a building society contract. The building society child support can apply nationwide all families whose household income does not exceed the limit of 75,000 euros. The Minister of Finance also grants an allowance of 15,000 euros per child!
payment of the construction child benefit starts in March 2019
According to KfW, a total of almost 25,000 funding applications have been registered so far that have been received by the Reconstruction Loan Corporation. Therefore…
Important: Child benefit is only granted for owner-occupied residential property if the purchase contract was concluded between January 1, 2018 and December 31, 2020!
How do I apply for child benefit?
The federal government plans to use the child benefit to continue the funding instrument for the so-called home allowance, which until 2005 supported families who wanted to build / buy their own house or apartment for the first time. The child benefit is granted as a government subsidy for the construction of owner-occupied property. The affected families do not have to pay back the funding amount (unlike KfW loans!). Singles and childless couples are excluded from the promotion of home ownership.
You must submit the application for funding for construction child benefit no later than three months after moving in - ideally online at www.kfw.de/zuschussportal >>
Anyone who lived in their own four walls before the deadline of August 18, 2018 will enjoy a special deadline until the end of 2018. The child benefit will be paid no earlier than March 2019!
Good news: The originally discussed limit of 120 square meters is gone! Families with a large number of children benefit from this, since they don't have to build "too small" from the start to benefit from the funding!
Claim construction child benefit retrospectively
The grand coalition has agreed that the child benefit will be granted retrospectively from January 1, 2018. In order to be eligible, the taxable annual household income must be below the above value. The children must be minors and live at home when the funding application is submitted. With a positive funding decision, the beneficiary families receive the building child benefit retrospectively for the whole of 2018. It is worthwhile to be quick: Because "with regard to the federal budget", the building society child benefit is only granted until the end of 2020.
expanding the attic: costs & grants
However, there are also many hidden costs in expanding the attic if you do not plan the project carefully. Grants for loft conversions …
Practical tip: Anyone who already owns a property is not entitled to child benefit. Here, however, it is worth taking a look at the KfW homepage to tap other funding sources if you want to convert the house barrier-free or to renovate it energetically!
You can obtain information on the application for child benefit directly from KfW >>
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