“Baukindergeld” as a subsidy for families

Since autumn 2018, the federal government has launched the “Baukindergeld” (Construction child allowance) subsidy. This child benefit is a state subsidy for families and single parents, which does not need to be repaid. The basic requirement for receiving the money is that the family’s residence has been bought or being built. The purchase contract or building permit must be dated between January 1st and December 31st, 2020. The support is only given to families whose household income does not exceed a certain limit. For a family with one child, this is 90,000 euros. For each additional child, the limit increases by 15,000 euros. The child benefit is 1,200 euros per child and year. The amount is paid out over a total of ten years after the purchase or construction of the property. The families receive the grant once a year. It is possible to receive 12,000 euros for each child over the entire funding period. The application for the construction child allowance can be made directly to the Kreditanstalt für Wiederaufbau (KfW).

www.kundenerzentrale.de/wissen/geld-versicherungen/bau-und-immobilienfinanzierung/baukindergeld-wer-es-bekommt-und-wie-sie-es-beanhaben-28492

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