Double Riester also for spouses

Hello house building forum,

we are currently advancing our project "New construction".
I still don't fully understand Riester contracts as a component of construction financing :confused:

I had a conversation with an advisor regarding construction financing. We were recommended to cover part of the amount with a Bau-Riester contract. This seems to be a common procedure and was also a component in discussions with other banks.
However, we were advised that besides me (Riester contract of over €40,000), my wife (Riester contract of over €30,000) should also take out her own Riester contract in order to receive the full state subsidy. So far, all offers have been exclusively with ONE Riester contract of about €70,000. Is this really sensible and feasible? What would happen if my wife, for example, does not work and has no own income due to children in the coming years? Could I then continue to pay her contract?

Is it even possible (or sensible) to take out a Bau-Riester contract and claim the subsidy if you already have a contract for, e.g., retirement provision? I assume that you can receive a maximum of 4% per year subsidy regardless of the purpose and how many different Riester contracts you take out.

Many thanks & regards
sinkleb

If your wife has no own income, she only has to pay the base contribution of 60 € per year to receive the basic allowance of 154 €. In this case, in my opinion, a second Riester home savings contract would be total nonsense.

The support consists either of the allowances (basic + children) or a reduction of the income tax (contributions including allowances as special expenses deduction, max. 2,100 €). Depending on which is higher.

Oh, of course: The subsidy is only granted once per person, regardless of how many Riester contracts have been concluded.

Hello

but you have been advised about the advantages and disadvantages of a Riester component?

deferred taxation, what happens if you sell the property?
etc pp

Thank you for the answers. We were "generally" advised about the advantages and disadvantages of a Riester component. Even after further inquiry, the advisor considers a Riester contract to be reasonable for me and my wife, as it is now possible to have multiple Riester contracts simultaneously and also receive state subsidies for two contracts in parallel. I always thought that such a contract is set up for the spouses and that the basic subsidy of €154 per person is paid. Two contracts (one in the wife's name & one in the husband's name) therefore do not bring me any advantages in terms of subsidies, do they? Thank you sinkleb

I’ll quote myself:

Oh right, of course: The subsidy is only given once per person, no matter how many Riester contracts have been concluded.

;)