{"id":10389,"date":"2022-11-14T16:46:52","date_gmt":"2022-11-14T16:46:52","guid":{"rendered":"https:\/\/loans.tiida-nissan.ru\/?p=10389"},"modified":"2022-12-08T18:43:19","modified_gmt":"2022-12-08T18:43:19","slug":"tailor-made-financing-for-listed-houses","status":"publish","type":"post","link":"https:\/\/loans.tiida-nissan.ru\/tailor-made-financing-for-listed-houses.html","title":{"rendered":"Tailor-made financing for listed houses"},"content":{"rendered":"

\"Tailor-made<\/div>\n<\/p>\n

You are interested in buying a listed property? Especially in times when the supply of existing properties is limited, properties with an increased need for renovation are becoming a focus of interest. On the other hand, listed houses are also a pure affair of the heart. And less a purely rational decision based on asset accumulation. One can count on some tax advantages, on the other hand one knows also around the impassibilities with a general reorganization. You have to calculate coolly and inform yourself comprehensively before deciding to buy a listed house. Elaborate refurbishments, constant consultations with the Office for the Protection of Historical Monuments, strict requirements and financing costs that are difficult to plan in advance. This makes the purchase and renovation of a listed property exciting.<\/p>\n

The allure of listed homes.<\/h2>\n

In the run-up to the outbreak, it is imperative to obtain comprehensive information. This already begins with the financing, since at the beginning the actual costs of the reorganization cannot be foreseen in spite of experts exactly. On the one hand, because one may encounter further construction defects during the refurbishment or because construction stages – and thus the disbursement dates of the total loan amount – may be postponed. In addition, the Office for the Protection of Historical Monuments can impose conditions that can only be carried out by specialist companies.<\/p>\n

In addition, the jungle of subsidies has to be sifted through. Although there are many offers for monument protection subsidies from the public sector or the German Foundation for the Protection of Monuments, these are complicated and only formulated in a way that can be understood by experts, and are also difficult to find. In addition, owners are offered tax incentives with special depreciation options, which in turn, however, are linked to specifications. All in all: a longer-term planning phase awaits you.<\/p>\n

Usually at the beginning there is a special attraction of an object. It is difficult to escape the charm of old houses with history.Despite all the love: the current building substance is the measure that decides the costs. Up to four-meter-high rooms or 1.5-meter-wide masonry, large staircases and custom window boxes. Or half-timbering filled with a mixture of straw and clay, which creates a special room atmosphere. Facades, gables and oriels that would hardly be compatible with today's development plans of the municipalities, but which are possible as listed buildings. Or the location: due to age often in prime locations – surrounded by similarly old stock. Others located off the beaten track on sometimes large plots of land that would not be allowed to be built on today.<\/p>\n

And last but not least of course the individuality. Living in an old factory, a historic half-timbered house, a former elementary school or a disused lighthouse is unique. Nevertheless, listed houses still leave enough leeway, for example, to design interiors entirely according to one's own ideas – even if the building authority imposes tight specifications for facade design and building substance renovation that must be adhered to exactly.<\/p>\n

Subsidies for listed houses.<\/h2>\n

The subsidies are always based on the type of renovation. If you want to renovate the property to make it more energy efficient, the KfW subsidy programs are a good option, offering subsidized loans and repayment subsidies that do not have to be repaid.<\/p>\n

For the preservation of listed buildings, interesting subsidies can be found at the Stiftung Denkmalschutz and the Bund-Lander-Programm Stadtebaulicher Denkmalschutz. These grants do not have to be repaid. Unlike KfW's historic preservation grants, these are not clearly defined programs, but are decided individually for each building project. Interesting is always also the combinability of several promotions.<\/p>\n

It is not possible to give a blanket answer to the amount of subsidies that will be granted. This is how the funding options differ from state to state. In addition, the type of measures planned as well as the historical value of the property determine the funding amount. Properties that are particularly worthy of protection receive a higher subsidy than those that are less worthy of protection. Finally, the owner's financial means also played a role.<\/p>\n

Also important: the purchase must have taken place before a first step of construction. If you buy a building that has already been partially renovated, you may lose the government subsidies, or you may have to pay for the renovation. not be granted. That's why it's important to take a close look at the deadlines and conditions for subsidies. And that before signing a purchase contract.<\/p>\n

Tax advantages for listed houses.<\/h2>\n

Tax depreciation options also depend on whether the listed building is then owner-occupied or rented after renovation. For example, landlords can write off up to 9% of the costs annually for tax purposes over 8 years. After that, another 4 years at 7% annually is possible. So landlords can actually deduct 100% of the total costs over that time period.<\/p>\n

Owner-occupiers can deduct 90% of the total costs over a period of 10 years. Or to put it another way: over 10 years, owner-occupiers can claim 9% per year in each case for tax purposes. In both cases, you use depreciation, Absetzung fur Abnutzung (AfA), as it's called in "tax German". This initially sets 70 percent of the total purchase price, including remediation costs, as the basis for calculation.<\/p>\n

For investors, the tax benefits are staggering. Depending on the renovation effort, depreciation of up to 70% over 12 years is possible. Of course, all historic preservation requirements and regulations must be met in the process.<\/p>\n

Beware of black sheep<\/h2>\n

Unfortunately, there are always cases where a developer also wants to get something out of the tax benefits. As a result, some listed houses are not sold at the actual market price, but are considerably more expensive. Due to the tax advantages, this is not so noticeable to the buyer. It has happened that a developer has added 50% of the benefits to the market price and thus earned a lot of money.<\/p>\n

It is therefore highly advisable to search the market extensively and always consult an expert who can assess both the asking price and the renovation requirements. If one buys an overpriced property, this can have various consequences, for example:<\/p>\n