Renovation is often expensive, but can be worthwhile when selling the property due to a higher purchase price. It depends on the individual case and should be assessed in advance by a professional.
Doubling of KfW funding for age-appropriate housing from 2024
To ensure that your home continues to meet your needs in old age, age-appropriate renovations can help. The Federal Ministry of Housing, Urban Development, and Building has allocated 75 million euros for such construction measures in 2023. Federal Building Minister Klara Geywitz has now announced that this will be doubled to 150 million euros in 2024.
Doubling of funding from 2024
Anyone thinking about making their home age-appropriate or barrier-free may be put off by the high construction costs. The crises of recent years mean that construction costs remain at a high level. Some owners are also put off by such measures because they simply seem too costly.
From 2024, the funds available from the Kreditanstalt für Wiederaufbau (KfW) for barrier reduction are to be doubled to 150 million euros. The subsidy program, which started in July 2022 with 75 million euros in funding, was very popular and the subsidies were quickly exhausted each time. Despite the increase, it remains to be seen whether the funding will be sufficient.
What structural measures for accessibility are eligible for funding?
To enable elderly people and those with physical disabilities to remain in their own homes for as long as possible, the federal government is providing funding through KfW Bank for measures to make houses and residential properties barrier-free and age-appropriate. Such measures include installing a floor-level shower, removing door thresholds, or installing an elevator. Measures outside the building, such as widening paths or reducing steps, are also included.
KfW Bank subsidizes such individual measures with 10 percent of the eligible costs, up to a maximum of €2,500. If owners decide to bring their property completely up to the "age-appropriate" standard, they can receive 12.5 percent of the eligible costs or even a maximum of €6,250 in funding.
When is age-appropriate conversion worthwhile for owners?
There is no blanket answer to this question. It is particularly important to address the issue at an early stage. An expert can assist you with this step and check which measures are sensible and feasible for your building. They can also estimate how high the costs would actually be and help you with subsidies. A conversion to improve accessibility often increases the value of a property.
Would you like to know how a barrier-free conversion would affect the value of your property? Contact us! We will be happy to advise you.
Notes
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please have the facts of your specific case clarified by a lawyer and/or tax advisor.
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