The new program "Upgrading my Home 2025" comes to provide an excellent opportunity for the energy upgrade of homes through low-interest loans with a full interest rate subsidy. The program, which is expected to come into effect in January 2025, will offer citizens the opportunity to upgrade their homes with a flexible financing solution without income or age criteria.
What is the "Upgrade my Home 2025" Program
The program "Upgrading my Home 2025" is an initiative of the Greek government to upgrade the energy profile of old houses. The program provides for the grant low interest loans with zero interest to cover costs related to energy improvement works such as installing thermal insulation, replacing windows and installing renewable energy sources.
With a total budget 400 million, of which 300 million come from the Recovery Fund and 100 million from banks, the program is estimated to help approx 20.000 beneficiaries.
What Jobs Does the Program Cover? I am upgrading my Home
The program covers a series of interventions for the energy upgrade of homes. Specifically, the costs financed include:
- Thermal insulation walls, floors and ceilings.
- Replacement of frames with energy efficient.
- Installation of solar water heaters to save energy.
- Heating and cooling systems new generation with increased energy efficiency.
- Installation of photovoltaic systems or small wind turbines.
- Green roof, to reduce heat and save energy.
What makes the program more flexible compared to "Esconomi" is that it does not require upgrading the residence by two energy classes, but allows for spot improvements, such as replacing only the frames or installing air conditioning systems.
Who Are the Beneficiaries of the "I Upgrade My Home" Program
The program has no income or age criteria, making it accessible to all owners of primary or secondary residences who wish to proceed with an energy upgrade.
- Maximum loan amount: 25.000 euros.
- Repayment period: 3 to 7 years.
- Interest rate subsidy: 100% coverage, with zero interest
How to Apply for the Upgrade My Home Program
The application for the program is made through the electronic platform that will open the January of 2025. Here are the steps you need to follow:
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- Login with TaxisNet codes: Enter the platform with your personal TaxisNet codes.
- Filling in personal information: Enter information about the residence you want to upgrade.
- Submit the application: After entering all the required details, submit your application.
- Loan approval and receipt: After approval, you can proceed with the upgrade work.
Benefits of the “Upgrade my Home” Program
The new program offers multiple benefits to beneficiaries:
- Zero interest rate: Full interest rate subsidy offers a particularly attractive financing solution.
- Work flexibility: In contrast to "Save", the beneficiaries can choose specific energy upgrading works without the obligation to upgrade two categories in total.
- Reduction of energy costs: The works covered by the program contribute to a significant reduction in energy costs.
- Increase in property value: An energy upgrade increases the home's market value.
Comparison with the "Save" Program
In contrast with "I save", the program "Upgrading my Home" it is more flexible and allows spot improvements, without the obligation to upgrade two energy categories. This means that the beneficiaries can choose individual tasks such as the replacement of frames, installation of air conditioners or a solar water heater, without having to proceed with a comprehensive energy upgrade
Connection with Other Programs: Renovate – Rent & Combine with “Upgrade my Home”
Beneficiaries of the 'Upgrading my Home' program can simultaneously apply for the 'Renovating – Renting', in order to improve their residence and offer it for long-term rental, simultaneously increasing its energy and economic value.
The "Renovate - Rent" is a program focused on renovating homes to improve functionality and offer them for rent, enabling owners to renovate old apartments for long-term rental. This program offers subsidies covering up to 60% of the cost of the works with a maximum subsidized amount ta 13.330 euro.
| Feature | Renovating – Renting |
| Maximum subsidy amount | 8.000 euro |
| Cost recovery rate | 60% |
| Maximum renovation expenditure for subsidy | 13.330 euro |
How the Programs Combine:
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Energy Upgrade and Renovation:
- The "Upgrading my Home" focuses on energy upgrading interventions, such as thermal insulation, window replacement and the installation of renewable energy sources. On the other hand, the "Renovate - Rent" focuses on renovations that improve the functionality and commercial value of properties.
- By combining the two programs, owners can succeed complete renovation and energy upgrade, which increases the value of the property for both owner-occupation and rental.
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Double Financial Benefit:
- Through "Upgrading my Home", owners can get financing up to 25.000 euro for energy improvements, while the "Renovate - Rent" provides up to 13.330 euro for general renovation work.
- By combining the subsidies from the two programs, the owners can cover almost all the necessary work, both for saving energy and for renewing the premises of the residence, without a significant financial burden.
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Long Term Rental Success:
- For owners who wish to rent out their home after renovation, the energy upgrade will provide a competitive advantage. A house with thermal insulation, new energy glazing and modern cooling/heating systems will have a higher demand and a higher value in the real estate market.
- These improvements can be made more affordable through its subsidy "Renovate - Rent", as the owners can also renew the general aesthetics and functionality of the property, offering a fully renovated and energy efficient apartment for rent.
Combination and Advantages:
By combining the two programs, you can achieve:
- Maximize funding from government programs.
- Increase in property value for owning or renting.
- Saving money through reducing energy bills.
- Promotion of the property to tenants with high standards of energy efficiency and functionality.
With the right combination of programs like "Upgrading my Home" and "Renovate - Rent", owners can maximize the benefits of the subsidies while improving the energy efficiency and aesthetics of their property, aiming for either owner-occupation or long-term rental.
Frequently Asked Questions (FAQs)
- When does the platform for the "Upgrade my Home" program open?
The platform is expected to open in January 2025. - What is the maximum loan amount I can get for "Upgrade my Home"?
The maximum loan amount is 25.000 euros. - What tasks does the "Upgrade my Home" program cover?
Works such as thermal insulation, replacement of frames, installation of solar water heaters, heating and cooling systems, and installation of photovoltaic systems are covered
Conclusion
The program "Upgrading my Home 2025" offers a unique opportunity for the energy upgrade of homes in Greece, with flexible work options and low-interest loans without income or age criteria. With her zero interest rate subsidy and the possibility of choosing point improvements, such as the installation of solar water heaters and photovoltaics, the program is an important solution for reducing energy consumption and increasing property values. Utilizing its capabilities, beneficiaries can benefit from financing up to 25.000 euro, improving the energy efficiency of their home in a cost-effective and efficient way.
For those looking for economical energy improvement solutions, the "Upgrading my Home" is a program that combines flexibility and financial viability, allowing owners to implement their plans without being burdened with high interest rates.
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