The new program “Young Buys Old” provides cheap loans to families who buy older houses and renovate them to make them more energy efficient. How it pays off and where you should live for it.
The idea is not new, but the funding program is: If couples or single parents with at least one child buy an older house that has a poor energy balance (F, G or H) and therefore needs to be renovated to make it more energy efficient (at least to efficiency house standard 70), they will receive a low-interest loan from the state-owned KfW bank. This is 100,000 euros for one child, 125,000 euros for two children, and a maximum of 150,000 euros. With this program, the federal government is now supporting families in purchasing their own home instead of just financially supporting new construction. The latter is currently proving extremely difficult given the high construction costs.
Source: Stern
