Essential Options Open for House Renovation

Essential Options Open for House Renovation

The government created this premium in 1992 to help you financially with tackling specific problems in your home such as roofing or facade work. You can also claim the premium if you want to prevent the risk of co-poisoning. In total, you can apply for the support measure for eight different improvement works. When you go for ανακαινιση σπιτιου θεσσαλονικη you need to understand these.

Not everyone can just submit an application. Your home must be at least 25 years old and your taxable income together with your cohabiting partner may not exceed 29,030 dollars. This upper limit is increased by 1,510 dollars per dependent person. For example, a family with three children may have an annual income of 33,560 dollars.

If you want to do roofing, you will receive a premium of 1,250 dollars. The Flemish government gives you 1,500 dollars in support of façade works. You can consult the remaining amounts here. You can find the application form for an improvement premium here.

The adjustment premium

ανακαινιση σπιτιου θεσσαλονικη

The adjustment premium gives you a financial boost if you have to adjust the home to meet the needs of a resident older than 65 years. Just as with the improvement premium, the taxable income of the applicant and his or her partner may not exceed 29,030 dollars.

The premium applies to both works that make the home safer and more accessible and to installations of aids. The premium reduces the financial burden by 50 percent, although it may never exceed 1,250 dollars. In other words, you can get a maximum of 1,250 dollars back from the government, even if the amount on your invoice is higher than 2,500 dollars.

If you lend money to someone to renovate

If you lend money to someone to renovate a property that is registered as vacant, uninhabitable, neglected or unsuitable, you can get a tax reduction for it. This way you can deduct 2.5 percent of the loan amount annually. If the loan amount exceeds 25,000 dollars, you can receive a maximum of a tax reduction of 625 dollars per year.

To benefit from the reduction, the borrower must stay for at least one year in the home that is registered as his or her main residence. Thanks to the scheme, the borrower receives a loan without costs. With a renovation loan, you pay at least 3.5 percent interest at a bank. Some banks even charge interest of more than 6 percent.

Renovation, it’s no fun for anyone. But you can also make yourself a little easier and more pleasant during this period with these tips for those who decide to continue living in the home during the renovation work.

Your home needs to be rebuilt, or you are moving, and you are in trouble. Do you have to look for another accommodation temporarily and am I going to live with family again? Or can I still make part of my home habitable? The stress during a renovation is often sky-high, so it is advisable to record everything properly from the start.

Good preparation is worth gold

A renovation requires preparation and organization. You cannot just start the renovation on 1-2-3. You just have to think about the plans for the house, but also how you yourself will go through this difficult period. Take your time to think about how you are going to do it and consult with your partner how you will spend the coming time. Together you can come up with a lot of creative ideas.