What awaits you here
How the age-appropriate conversion with Wohn-Riester works, how you apply for the removal and which requirements you absolutely have to comply with.
The most important facts in brief
Since 2014, the legBathroom Renovations islator has allowed the financing of age-appropriate conversion via residential Riester.
For this, some time and financial requirements must be observed.
For the conversion, at least half DIN requirements for barrier-free construction/living must be complied with.
The converted property is to be inhabited by yourself, so may not be rented.
A use of the residential Riester for renovations or similar measures, which do not serve the age-appropriate conversion, is excluded.
While Wohn-Riester has existed since 2008, the disabled- and age-appropriate conversion has only been funded since 2014. If such a conversion is planned, it must inevitably be age- and disability-friendly. The legislator wants to enable Riester savers to use their saved Riester capital to continue to enjoy retirement in their own four walls. A general modernization of the property or individual parts of it, however, may not be transferred to residential Riester. Commissioning an expert is essential
An expert must be consulted at the early stages of the planning phase. This must confirm to the owner and the state that the planned conversions are sufficient in the course of the subsidy requirements. Such experts are mediated, for example, by institutions such as the Chambers of Crafts, the Federal Chamber of Engineers or the Federal Chamber of Architects. Those who do not commission an expert risk losing any funding opportunity.
Supported measures for age-appropriate conversion
As already explained, any conversion measures are examined and approved by an expert. The usual measures that meet the DIN requirements include, for example:A walk-in showerInstallations such as handles and brackets on toilets and showersA stair lift at a multi-storey propertyA barrier-free and equipped kitchenWidened doors, possibly with accessible opening mechanismRamps inside the property and in the entrance areaPhysically challenged bed that meets medical standards for long-term care
It should be borne in mind that not all of these measures automatically fall into half of the investments promoted by Wohn-Riester. However, the expert ensures that, for example, such a walk-in shower is installed, which meets the requirements of the “Minimum Requirements of the Federal Construction Sheet”.
For this reason, the expert represents an important support for the Riester savers in the planned conversion and must also be consulted on every planned measure. This is the only way to ensure that he can incorporate them into the part of the supported measures, if necessary. But in return, that the prescribed distribution is met.
Unsupported measuresScope for the use of the residential Riester
By the way, Wohn-Riester savers can use the other half of the investments for other accessibility measures, even if these are not included in DIN. Which these are, depends above all on the personal requirements. It is certainly conceivable that the conversion project takes into account, for example, installations for an intelligent smart home, even if it does not fall into the proportion with the DIN specifications. Then it is only necessary to ensure that the costs for these separate measures in no case exceed the part of the legally required and monitored conversion measures. No removal for renovation or refurbishment
Measures that do not serve the age-appropriate conversion or the removal of barriers, e.g.RenovationRedevelopmentInstallation of a new heating systemModernization
can not be financed by a residential Riester. This only serves the construction or acquisition of owner-occupied residential property, with age-appropriate conversions as the exception. So take into account that you will not be able to use your residential Riester or Riester home savings contract in this way.
Specifications for the conversion with Wohn-RiesterHow much do you have to invest?
Furthermore, the legislator sets a number of requirements for the conversion via Wohn-Riester:Anyone who has owned their own house or apartment for more than three years must be willing to invest a total of at least 20,000 euros in the conversion.Those who do not call their own four walls their property for a full three years, on the other hand, only have to spend more than 6,000 euros on it.Regardless of whether more than 20,000 euros or more than 6,000 euros are invested, half of all costs must be spent on measures that comply with DIN requirements for barrier-free construction.Expert checks specifications
An expert must assess which measures meet the DIN requirements, but also point out overall whether they account for at least half of the investment sum. Laymen are not allowed to make such a judgment themselves. For this reason, there is no way around commissioning an expert. It is advantageous that the costs for its commissioning may also be paid via the Wohn-Riester contract. Timelines
When converting via Wohn-Riester, time constraints must also be observed. Thus, the application for the withdrawal of capital must be submitted at least ten months before the payout phase. In addition, the disbursed capital must be used no later than one year after disbursement.
Composition of Wohn-Riester financingNo equity
Depending on how long the house is already owned by the Riester saver, he may not spend any equity on the conversion up to a sum of 20,000 euros or 6,000 euros. The credit balance, which is in a Riester home savings contract, is not considered equity. It is credited to the minimum necessary investment amount, which is a great advantage for the Riester saver. It is also possible that the sum is composed of both the residential Riester dealt with here and a possibly existing home savings loan. Subsidies cannot be combined
However, financing via Wohn-Riester excludes further subsidies and grants. Tax reductions may also not be claimed. So if you decide to convert via Wohn-Riester, you are also making a decision against any other available funding programs.
Usually, the property for Wohn-Riester itself is to be inhabited. An exception is an inevitable move. For the time in which the property is not inhabited, the Riester saver may set a fixed-term lease with the residential Riester contract. At the latest at the beginning of retirement, he must live in the residential Riester property again. Anyone who rents out the Riester property without professional compulsion risks a subsequent punitive taxation of the Riester capital.
How do I request a withdrawal?
The withdrawal from the residential Riester must be applied for at the Central Allowance Office for Retirement Assets (ZfA). A form for the “Declaration of Residential Use” can be downloaded from the ZfA here in the download area for investors. In order to speed up the verification of the conditions, any necessary supporting documents should be attached to the application.
Withdrawals of money from the residential Riester for the purpose of age-appropriate conversions are possible. However, it is precisely regulated how much money may or must be withdrawn, which uses are accepted and which steps must be observed. It is best to familiarize yourself with these rules before you start your conversions.
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