Anyone who wants to convert their home to make it suitable for the elderly will receive financial support from the state. This year, the Federal Ministry of the Interior has increased subsidies for conversion measures from 75 million to 100 million euros. The Kreditanstalt für Wiederaufbau (KfW) subsidizes barrier-free conversion measures and age-appropriate modernization measures with up to 6,250 euros. From January 3, owners and tenants can apply for the government grants or take out a loan.
The investment grant for the removal of barriers can be applied for, for example, the construction of a bathroom suitable for the elderly or for the removal of various thresholds in the apartment or in front of the house. Up to 12.5 percent of the eligible costs can be granted for the measures. The total cost of the measures must be at least 2,000 euros when the application is submitted, and the application must be submitted before the construction work begins. The amount of the grant is between 200 and 6,250 euros.
Alternatively, apartment owners and private individuals, for example, but also property developers, condominium owners' associations or housing companies can take advantage of a low-interest loan from KfW. This amounts to up to 50,000 euros with an effective annual interest rate of 0.78 percent. The loan supports measures to reduce barriers in existing buildings and to protect against burglary.
Interested parties can obtain information on the four loan term variants or the interest rate from KfW.
Source: KfW
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