Baukindergeld – How the subsidy helps you with your financing. The Baukindergeld is another government measure to promote home ownership. The corresponding law was introduced in 2018 and expires on December 31, 2020. Here is a brief overview of the Baukindergeld with an explanatory video from KfW.
This means that only families who submit a building permit or purchase contract by December 31, 2020, can still receive Baukindergeld. Up to €12,000 is available per child over a period of ten years. Whether and how much Baukindergeld can be included in the financing depends on the owner’s income.
https://www.youtube.com/watch?v=BPcrbAaR0Fc
Here are the most important key points of the building allowance
The “Baukindergeld” is the state subsidy for owner-occupiers. The subsidy amounts to 1,200 euros per year per child up to the age of 18 for a period of ten years.
Income limits of 90,000 euros for a family with one child may not be exceeded. For each additional child, the tax-free amount increases by 15,000 euros.
The subsidy applies to properties acquired between January 1, 2018 and December 31, 2020. For new buildings, the date of the building permit is relevant.
The evidence required for the application can be uploaded to KfW’s grant portal since the end of March 2019. After a successful review by KfW, the first partial amount will then be paid out.
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