Maternity capital can be used to construct private building

A decree of the Russian government has been signed allowing, from March 1, the use of maternity capital for the construction of an individual residential building under a construction contract using escrow accounts.

With such accounts, payment for the work is transferred only after it is completed, ensuring the integrity of the contract.

More than 9.5 million families have used maternity capital to purchase or reconstruct their homes. Moreover, the Cabinet of Ministers' press service reported that a third did so without using loans.

From February 2025, the amount of maternity capital will be increased, considering actual inflation, to more than 690 thousand rubles for the first child and more than 912 thousand rubles for the second and subsequent children.

In addition to building or purchasing housing, maternity capital can be used to pay for education, form the funded part of the mother's pension, and buy goods and services for disabled children. Families with an income below two subsistence minimums per person can use maternity capital to pay monthly for a second child until they turn three.

Author: Elina Akhmetova