Is the village loan good now?

It’s a bit weird, but we still get to see it a lot. In essence, this is a conditional state aid. The question is, if we get money and don’t have to give anything back, how can it be bad? Perhaps the conditions are the solution? Let’s find out.

What can it be used for?

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The following solutions can be used for village Family Home Discount:

  • buying real estate
  • new real estate construction
  • used property purchase
  • existing real estate expansion
  • existing property modernization

After reading this, if you have any other real estate purpose, visit the calculator on the loan.com page and you can finance it from a market loan!

It cannot be abused

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This is not possible due to the following four rules:

  • minimum boundaries per square meter have been set. According to this, the minimum floor space for one, two or three children is 40, 50 and 60 sqm for apartments, and for houses 70, 80 and 90 sqm
  • minimum 1 year continuous TB relationship – at least 2 years social security with the highest grant amount
  • a moral certificate is required
  • the purchase of real estate from a close relative and from a proprietary company is not subsidized, ie prohibited.

Actually, that shouldn’t be a problem at all, because these are perfectly normal expectations. What’s more, no one is supposed to just sell their property to a relative in nominal terms and save the money… ..

What is upgrading?

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Well, we can finance the following jobs from the village Family Home Discount:

  • water supply, sewerage, electricity, gas utilities and internal network,
  • establishing a bathroom or toilet in an apartment that does not have such a room,
  • installation or replacement of central heating, including the use of renewable energy sources,
  • building insulation, including thermal, acoustic and waterproofing,
  • replacement of the external windows with energy-efficient windows,
  • roof replacement, renovation, insulation,
  • chimney building, modernization,
  • interior renovation, including interior cover replacement, gallery construction, interior electrical, plumbing replacement, bathroom renovation, toilet renovation; kitchen renovation,
  • renovation or construction of an outbuilding under the same land registration number as the apartment, up to a maximum of 30% of the cost of modernization; and
  • rehabilitation work directly related to the upgrade, up to a maximum of 20% of the cost of the upgrade.

We, for our part, would not be able to say an item that should be added to this list, so we think this is a positive thing.

What counts as an expansion?

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  • construction work to increase the useful floor area of ​​the dwelling by at least one living room, including the installation of a loft that does not entail any increase in the volume of the building;
  • a floor or attic apartment if two new, independent subdivision apartments are not created through the storey or attic,
  • however, the conversion of an existing building, part of a building or structure does not constitute an extension of the dwelling.

This is quite normal. However, here is an important piece of information. Depending on the number of children, the size of the property must exceed the minimum square meters.

In addition, the amount spent on the purchase of a home may not exceed 50% of the amount and up to a maximum of $ 300,000, $ 1,300,000 and $ 5,000,000, respectively, may be claimed for modernization and / or expansion. Keep this in mind!

If we have these, then we can say that Village Family Home Discount is an extremely good initiative, and those who have the opportunity are worth taking advantage of it. All you have to do is see if your place is one of almost 2,500 places to work. Contact us! We will help you find the best solution for you.

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