What subsidies for housing are there in Lower Austria?
Lower Austria is at the forefront in terms of residential construction and affordable living in Austria-wide comparison. The range of apartments financed from funds from the Lower Austrian housing subsidy is very good. Tenants and buyers benefit from relatively low prices that the property developers can grant through the funding.
Calculate the number of housing subsidies in Lower Austria
The most frequently used form of housing subsidy in private is the promotion of a property from a subsidized loan, ie the owner receives a subsidized loan for a period of up to 31 years. If you want to build your own home or buy a residential unit in a freely financed building, you should contact the funding agencies in the district.
Lower Austria has its own point system for calculating the amount of the loan. Points can be collected through the energy index, sustainable and barrier-free construction, a good location quality, passive house construction, etc.
The calculated index is multiplied by the number of square meters of usable space and the result is the amount of funding. Regardless of the point system, the state’s loan has a retroactive interest rate of 1 percent with a term of 27.5 years per year.
Information that a computer needs to determine housing subsidies
Before a computer is consulted, the owner must determine whether the property is eligible for funding at all. This is the case, for example, as part of a home renovation or apartment renovation in which a climate-relevant heating system or a solar or photovoltaic system is installed.
It is important that at least the minimum standards for heating requirements are met.
A preliminary calculation of the amount of funding can help with the planning, but the applicant cannot rely on it and must ultimately wait for the calculation by the responsible Lower Austrian authorities.
Important contacts for this are the funding agencies for construction, residential construction, homeownership, safe living, home renovation, housing allowance, etc., all of which can be found in the Office of the Lower Austrian Provincial Government.
Who can submit a grant for housing?
Every Austrian citizen or EU citizen can apply for a private housing subsidy if there is an urgent need for housing and certain income limits are met. If the applicant already has property, no further home support can be applied for. In addition, the housing allowance only applies to homes that are used as the main residence.
Residential construction is the construction of a residential building in which several families or parties can live. The funding can therefore also be applied for by a legal person, e.g. a municipality or a non-profit building association, or a natural person, provided that they can call at least two apartments in the residential building their own.
What are the requirements for housing?
An energy certificate with a positive energy index is always a prerequisite, as is the use of sustainable energy systems. Renewable energies, energy-efficient heating systems and above all heat pumps and district heating are particularly strongly promoted.
If you want to take advantage of a subsidy for housing construction, you must submit it before the start of construction and wait until it is approved. An energy certificate is required before construction and afterward in order to prove eligibility or improvement.
If residential construction is subsidized by the federal state of Lower Austria in the form of financial support for the use of renewable energies, the energy consumption must be recorded in detail in the first five years after construction or renovation.
This energy accounting must be presented to the funding agency without being asked.
What is the amount of housing subsidies in Lower Austria?
With the introduction of the new funding in 2015, the income limit was raised by 5,000 dollars to 40,000 dollars. Couples are entitled to financial support from the state of Lower Austria up to a combined annual net income of 60,000. The amount of funding depends on how large the living space is, how many people will live in the household, how many children there are, etc.
The promotion of young living on a larger area for people under 35 years of age will continue to be supported with a one-off grant of 4,000 dollars, as will the faster processing of applications, through which construction can begin immediately after approval.
In general, the 2015 measures have worked very well, which is why they will be retained in the future.
Housing subsidy for a young family in Lower Austria
The promotion of “young living” benefits young families in particular. Family support is a supplement to housing support. This funding can be applied for up to the moment of completion, ie the new building can already be in place and would subsequently be a financial relief. A prerequisite for funding is that there are at least one child and at least one life partner under the age of 35.
If it is a single with a child, the funding amounts to 4,000 USD. With two parents and one child, it is 8,000 dollars, there are 10,000 dollars for the second child and 12,000 dollars for the third child.
Why early repayment of housing subsidies can be worthwhile
With housing subsidies, it is usually possible to repay the open installments early. In total, up to a 40% discount is possible. However, early repayment is usually only possible after a certain term, usually after five years at the earliest.
The advantage of early repayment is obvious: the owner is debt-free faster, the bank is deleted from the land register and the former borrower has a better credit rating and more security. However, early repayment may incur fees. How the advance repayment is regulated and to what extent it is possible is a matter of negotiation and must be clarified with the bank from which the loan is taken out.
However, it is also recommended to find out about the usual options in advance from consumer protection.
Affordable living in a small space in Lower Austria
The proportion of single households in Lower Austria has increased by around five percent in recent years. This trend will continue this year. That is why the federal state is taking special measures to support this target group with housing subsidies. If you are planning smaller construction projects, you can apply for a financial injection from the state government in Lower Austria.
These include residential complexes with up to twelve residential units and the expansion of attics.
Austria-wide measures for affordable living
In the future, housing subsidies are to be intensified throughout Austria. The plan is to set up its own residential investment bank, which will receive cheap loans from the European lending and will then support non-profit construction projects in Austria.
This is intended to stimulate both new buildings and renovation measures and to build at least 6,000 new subsidized rental apartments and condominiums each year.