From the age of 18. September families can apply for Baukindergeld. That's retroactive for homebuyers who buy a condo or house from inventory as of 1.1.Financed or started new construction in 2018. Per child, over the course of the estimated 10-year term, this can be 12.000,- Euro make up. An amount for which it is worthwhile to initiate appropriate steps.
Who can apply for building allowance
Eligible are families or single parents, in whose households at least one child lives, who is younger than 18 years. The basic prerequisite is that the purchase of the property – condominium or new construction, is the first purchase of a property and that it is also owner-occupied. Thus, properties that are traded as income properties and are rented out are excluded from the building allowance.
Upper income limits apply in order to be able to apply for building subsidies
Since the Baukindergeld is a subsidy especially for young families with low equity, it is also linked to upper income limits. This amounts to a total of 75 for a household – as already mentioned for both parents living together and single parents.000 taxable household income plus 15.000 per child. So in the case of two children this to income ceiling is 105.000,- Euro respectively. for a child 90.000,- Euro. Ultimately then 1.200 per child per year subsidized for a period of 10 years.
By the way: The previously planned living space limit of 120 square meters for a family of four has been overturned in the meantime. For this purpose, the payment of construction child allowance is postponed to 31.12.2020 term.
How and when to apply for construction subsidy
Applications for the Baukindergeld must be submitted through KfW. This can be applied for online. Important: The contract of sale of the property must be signed at the earliest on 1.1.Be signed in 2018 or later; those who signed such a contract in 2017 are not eligible for child construction benefits.
In addition, the applicant must have already moved into his own used property. The registration confirmation from the municipality or local authority is considered as proof for the development bank.
And deadlines must be met: Those who apply between 1.1. and 17.09. has moved into his new property, must at the latest to 31.12.Submit the application in 2018; those who apply after the age of 18.09. moves into the new property, must have submitted the application for Baukindergeld no later than 3 months after the date of the registration confirmation. This must also be the primary residence.
The building child benefit is available until 31.12.2020 temporary! Until then, you have to get the building permit resp. Have filed the construction notice or signed the purchase agreement.
Other requirements: The child or. Children must not be older than 18 at the time of move-in (registration confirmation). Children born after move-in within a maximum period of 3 months are also eligible for funding.
The ownership of the property
The good thing about the building subsidy is that as little as 50 percent ownership is enough. D. h. Single parents or partnerships have the opportunity to share ownership of this property with third z. B. To be shared with co-funding parents. The only important thing is that the applicants own at least 50 percent in the condominium or house according to the land register.
In addition, it is possible to combine the Baukindergeld with other KfW subsidy programs. For a complete overview, we recommend visiting KfW's related online resources. Use this link.
So it's important to get informed now, as short deadlines apply. Also, the application period between residence registration and submission of the application with 3 months is tight, because during this time a lot of documents must be submitted. Therefore, it is strongly recommended to have collected all documents before registering the new address with the municipality in order to be able to submit them to KfW immediately after registration.
Those who want to apply for construction loan must meet some requirements and observe tight deadlines. Here's how: