08 Nov What families need to know about the new family housing grant
Families are now able to apply for the family housing grant known as “Baukindergeld” – including for property that they bought or built earlier this year. The grant is EUR 1,200 per year and per child. The most important facts at a glance.
Who can apply for a family housing grant?
Important: Only the initial acquisition is subsidised. People who already own a home are ineligible.
How much is the grant?
Also note: The grant instalments are disbursed annually. This means that families need to bear in mind for financing purposes that the entire amount of the grant is not directly available to them, e.g. for the down payment at the time of purchase. Rather, the monies help with mortgage payments or for acquisitions or building work that becomes necessary at a later date.
Are there income limits?
In calculating income, the authorities use the average income from the second and third years preceding the lodging of the application. Thus, anyone who lodges an application this year has to total the income of both parents for 2016 and 2017 and then divide by two. Families have to prove their income by submitting income tax returns.
How do families apply for the family housing grant?
If you are buying a property that you had been renting up to that point and are therefore living in it, you must lodge the application not later than three months after signing the purchase contract.
In the case of families who moved into their home prior to 18 September 2018, it is sufficient if the application is lodged by 31 December 2018.
What does the special arrangement in Bavaria mean?
Can this family housing grant be combined with other subsidies?
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- What families need to know about the new family housing grant: © imorgthand (GettyImages)