Funding for age-appropriate remodeling

Housing and renovation funding series
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So that you can continue to use the apartment

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For example, if you want to renovate your bathroom without barriers, for example with a walk-in shower, you can use the “Age-appropriate renovation” loan program.
Foto: gms/SHK

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Serie Kevelaer KfW-Bank offers the “Age-appropriate renovation” funding program. Private individuals can finance up to 50,000 euros over a maximum of 30 years. Alternatively, there are also grants.

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The bathroom is to be remodeled. Instead of the dangerous climbing into the bathtub, a walk-in shower should be used. A stair lift is supposed to make it easier to get to the first floor, the corridor has to be converted in order to be able to park the rollator: The KfW loan program “Age-appropriate conversion” could be interesting for these topics. Especially since there is also the option of receiving a grant as an alternative to a loan. In the second part of our series “Housing and Renovation Funding” we look at this program. Our editorial team spoke to Felix van Well from Volksbank an der Niers in Kevelaer.

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Who is this program for?

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For private individuals who can remodel their home to suit their age, in individual cases also for tenants who want to invest in consultation with the owner. Felix van Well: “The program is interesting for everyone who wants to stay in their house or apartment in old age and who can help with the renovations. It can also be exciting for young families who are modernizing a property to keep an eye on accessibility and to take advantage of the funding opportunities. “

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Felix van Well from Volksbank Kevelaer.
*Photo: Norbert Prümen*

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How much money can i get? There is a loan of up to 50,000 euros, regardless of age. The terms are four to 30 years, the fixed interest rate is guaranteed for up to ten years. Felix van Well: “The interest rate is currently 0.78 percent, but that can of course change every day.” Those who do not take out a loan from the program can apply for a grant. KfW provides up to ten percent of the eligible costs, up to a maximum of 6250 euros, regardless of age, if you want to reduce barriers in the apartment and create more living comfort. In another program, there is a grant of up to 1,600 euros for measures to protect against break-ins, for owners and tenants. The investment grants are paid out as long as released federal funds are available.

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How do I get funding?

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The contact person is the house bank or another credit institute. Housing counseling centers also help with planning, and the police are the point of contact for improving burglary protection. Felix van Well: “The open conversation with the bank advisor is the best step to start.” The loan is handled by the credit institute, it is also the contractual partner. Everyone must apply for the grant directly from KfW.

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The time is important. You have to speak before the start of the construction work and get the applications off the ground. In addition, every euro must be supported by invoices. Felix van Well: “Your own work or that of private helpers are not eligible. Installation or retrofitting must be carried out by a specialist building company. ”The documents that are checked also include a specialist company certificate.

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What are the advantages of this program?

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Felix van Well: “It is really very interesting, especially for older people, because many measures are part of the program and the approval is age-independent.” But younger owners should also take a look at the program. When it comes to burglar protection, it can also include setting up smart home applications with an intruder alarm function.

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