What are the advantages of a large family for real estate?

According to the promise of the President of the Russian Federation, from January 2020, at the birth of a third baby in the family, they promised to allocate 450 thousand to pay off the mortgage. Are there people among my subscribers who have already been able to take advantage of this payment? How difficult is this process?

In the meantime, I'll tell you about what other government programs exist to support large families when buying or receiving real estate.

1. Article 49 of the RF LC states that a large family has the right to receive social housing from the state completely free of charge. There are requirements. Social housing is issued only to citizens of the Russian Federation. The income for each family member must be below the subsistence level - the family must be officially recognized as poor. Family members should not own real estate or should need to improve their living conditions.

2. If you are not ready to wait in line for housing, you, as a large family, can take advantage of a subsidy from the state. On average, its size ranges from 5 to 70% of the cost of the purchased living space. To obtain it, you must have the status of a large family, Russian citizenship, permanent registration and need to improve living conditions.

The issuance of social housing and state subsidies is made on a first come, first served basis. In order to get in line, you need to register large families and submit a full package of necessary documents to the authorized bodies.

3. Families with many children have the right to receive a free land plot for building a house. You can get a plot if you have a permanent registration for more than 5 years. The land will be given in the region at the place of registration. You will also have to wait your turn to get a plot. In this case, she moves a little faster than in receiving free housing or subsidies. If you want to get a plot, you need to improve your living conditions. If so, feel free to apply to the regional Land Administration. In some regions, instead of land, you can receive targeted monetary compensation, which can be spent on improving housing conditions.

4. Preferential terms of mortgage lending. For large families raising 3 or more minor children, banks offer special more favorable lending conditions, for example, a reduced interest rate. Find out this information. Apply to different banks to find the best conditions.

State programs concern families with the status of large families and needing better housing conditions. All family members must be citizens of the Russian Federation and have a permanent registration. It will be mandatory to check whether there is a planned deterioration in housing conditions over the past 5 years.