There are many old houses standing empty in Germany. The KfW now offers very good interest rates if you buy one of them and renovate it. But the program is not always worthwhile.
September 4, 2024, 3:54 p.m.
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The federal government is launching the KfW program Young Buys Old to encourage young families to buy and renovate old houses. Low-interest loans of up to 150,000 euros and a term of up to 35 years are intended to motivate families to preserve existing buildings and revitalize the town centers of small towns and villages. The program is aimed at families with underage children and a low to medium income. The property must be lived in by the owner for at least five years and renovated to make it more energy efficient. Experts recommend looking for houses with good structural integrity, especially in rural areas, as the funding is more worthwhile there.
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Low-income families should now be able to afford their own home – but it has to be old. © Ilona Wellmann/plainpicture
In Germany, more than two million old residential buildings empty. With the new KfW program Young Buys Old, the federal government wants to motivate young families to buy and renovate such houses. This is also intended to revitalize the town centers of small towns and villages. “Families can move back to their old home, for example,” says Construction Minister Klara Geywitz. What potential home buyers should know before applying.
