menu

Should you invest in a new addition to your home?

Date Posted
27 February 2014
[caption id="attachment_491" align="alignleft" width="300"] (Photo credit: iofoto/iStockphoto.com)[/caption] In the Canadian housing market, it was typical to buy a starter home, then once they were raising a family, they would move into a larger property. But with the rising cost of real estate in Canada with the average cost of a home selling for $388,553 in January 2014, according to the Canadian Real Estate Association, and the costs involved of selling and buying another property, homeowners might want to consider adding a new addition to their property. Before homeowners go ahead and hire a contractor, there are some aspects that should be considered. New additions are different than renovations since these projects are more costly, with longer timelines and more resources will be needed to complete the project. If something goes wrong, it could be a costlier mistake, which is why it's important to do the project right. With that being said, if it's done right, it could contribute a huge increase to the value of your home - both for your personal enjoyment and financial standing. Before drawing up any plans, start by contacting a real estate agent in your neighbourhood, according to Canadian Real Estate Wealth magazine. With their experience, they can inform you about what new addition might be in demand, along with the other features that your neighbours have, which you may be missing, the president of ReVision Home Custom Renovations Inc. told Canadian Real Estate Wealth magazine. Their knowledge could also help you determine how much money you should budget for the addition, based on the amount your neighbours' home values increased. If you're undertaking a renovation that doubles the size of the house or that changes up to 90 per cent of your home's interior, you may also eligible for an HST housing rebate, among other government programs. The amount you receive back from the CRA varies based on the province you live in, but there other ways to claim an HST housing rebate besides adding a new addition. Both investors and homeowners can claim an HST rebate, but it's important to be truthful and accurate on your application or the CRA may try to take back its rebate, along with interest, which puts your debt up to about $30,000. But it's important to keep in mind that the changes you make need to drastic to be eligible, which means adding a porch or knocking down a wall won't cut it. Your future plans for the property is another important aspect to consider. If the home is your dream property with the perfect location and you hope to pass it down to the next generation, the amount of work you do will differ compared to if you only plan a short-term stay. Make sure that the work you decide to do to your home is worth it to you in the long-run.Rebate4U can help you figure out whether the additions to your property make you eligible for an HST New housing rebate. Our priority is to provide our clients with the most professional and quality service in obtaining rebates for their new and renovated homes. We are proud to offer our clients the most personal and attentive service, and we make sure that all of our clients are 100% satisfied.

Contact Us

Rebate Calculator

Please enter the total value of your renovation including tax.

Total construction cost
(including taxes)
$
Search Our Blogs

More of our Blogs

21 June 2024

Benefits of Building Your Home with the HST Rebate in Ontario

Buying a new home in Ontario is a significant investment and a challenging process in the region’s competitive real estate market. As a result, many prospective home buyers look to buying land or properties that need large-scale renovations instead of buying directly from a builder or a ready-to-live-in, listed property. Understanding the financial benefits of building your own home with the...

View Full Post
11 June 2024

Frequently Asked Questions About the HST Rebate in Ontario in 2024

The new housing rebate is a fruitful opportunity for residential property owners and buyers across Ontario who fit the eligibility criteria. The HST Rebate in Ontario is applied to newly built or renovated homes and when applicable, can result in tens of thousands of dollars back into the pocket of the home buyers. When approaching the application process for the HST rebate on new homes or newly...

View Full Post
29 May 2024

Misconceptions to Avoid with HST Rebate on New Homes in Ontario

Residential property owners in Ontario looking to get money back that they've invested into their home have the opportunity to apply to the HST Rebate in Ontario. Designed to help lessen the cost of residential property ownership for your primary residence. This program has been available for many years and gives successful applicants a significant portion of their HST costs back.

View Full Post
17 May 2024

Why Avoid Late Filings for the New Home HST Rebate

For all your questions and application help, contact us today.

View Full Post
30 April 2024

What to Do When You've Been Contacted By the CRA for Your HST Rebate

Being thorough, accurate, and honest in your application is essential for a successful HST rebate claim. To ensure that it is accurate, contact Rebate4U. Our team has successfully secured millions of dollars in rebates for our clients, for over a decade.

View Full Post
15 April 2024

How to Cash in on Your Spring Renovations with the Ontario Rebate Program

Learn more about how you can cash in on your spring renovations with the Ontario rebate program!

View Full Post
26 March 2024

Tips to Ensure Your Renovation is Substantial Enough for the HST Rebate on New Homes

The Harmonized Sales Tax (HST) Rebate on home renovations is a significant financial incentive for homeowners in Ontario, providing a golden opportunity to recoup a portion of the expenses involved in upgrading and enhancing their living spaces. This rebate is offered via Canada Revenue Agency, and it aims to encourage property owners to invest in their homes, not just for personal satisfaction...

View Full Post
13 March 2024

How to Claim the HST Rebate on Rental Properties

The HST rebate on rental properties or the New Residential Rental Property Rebate is an excellent opportunity for new condos and homeowners who are not planning on occupying the property to get some money back that was invested in the purchase of the new home. Choosing to rent a property is an effective secondary passive income. When paired with the HST Rebate in Ontario, a rental property can be...

View Full Post
26 February 2024

How to Find a Tenant Ahead of Your HST Rental Rebate Application

If you’re renting out a new residential property, the HST Rebate in Ontario is a great opportunity to get back some of the money you’ve invested into purchasing the condo. Available via Canada Revenue Agency, the New Residential Rental Rebate Program can mean thousands of dollars back. To qualify for this rebate program in Ontario, you must meet the criteria set out by Canada Revenue...

View Full Post
10 February 2024

3 Stand-Out Benefits of Applying for HST Rebate on Home Renovations

Home renovations are a great way to revitalize your existing property to transform it into your dream home. Working with the best contractors you can make large-scale upgrade plans that rebuild your home from the ground up. With programs like the New Home HST Rebate in Ontario, the cost of these significant upgrades can be mitigated. By working with the experts at Rebate4U you can assess your...

View Full Post
Homeowners, obtain an HST rebate of up to $30,000 today!
get started

Why Choose Rebate4U?

Experienced Specialists

For over 10 years, the Rebate4U team has the knowledge and expertise to help residential property owners throughout Ontario successfully apply for regional HST Rebate programs.

Free Consultations

Our specialists offer complimentary consultations where we review your eligibility to determine whether you qualify for an Ontario HST Rebate so you can proceed with your application confidently.

Millions Awarded

We are able to expertly navigate rebate opportunities, staying up-to-date on the most recent rebate developments and changes in the HST Rebate program to maximize returns. To date, we’ve successfully acquired millions of dollars for clients in total.

Customer Commitment

The Rebate4U team is dedicated to delivering the highest level of customer service, we are here to answer your questions and help you navigate the intracises of your application easily and efficiently.

Cashing-In on the HST Rebate is as Easy as 1-2-3
Contact REBATE4U

Set up a quick, free consultation with the Rebate4U team to explore your HST Rebate options.

COLLECT DOCUMENTS

Submit your required documents to Rebate4U, and we'll handle your application.

GET YOUR Money BACK

Apply for the rebate and receive thousands in rebates in just weeks with Rebate4U.

FIND OUT IF YOU QUALIFY

We are proud to be working with top Canadian companies

Recent Posts view all posts

Benefits of Building Your Home with the HST Rebate in Ontario

Buying a new home in Ontario is a significant investment and a challenging process in the region’s competitive real estate market. As a result, many prospective home buyers look to buying land or properties that need large-scale renovations instead of buying directly fro...

Read More

Frequently Asked Questions About the HST Rebate in Ontario in 2024

The new housing rebate is a fruitful opportunity for residential property owners and buyers across Ontario who fit the eligibility criteria. The HST Rebate in Ontario is applied to newly built or renovated homes and when applicable, can result in tens of thousands of dollars b...

Read More
We Are Based

Rebate4U
101-3185 Bathurst St
Toronto ON
M6A 2B2

1-800-610-4510
info@rebate4u.ca

Connect With Us
Error...

Please, enter a valid value

We are sorry...

But the values you entered are invalid

Rebate

In celebration of our 3 year anniversary at Rebate4u Inc, we have decided to reduce our fee structure for all new home and renovation rebates including the New housing rental rebate.  

Don't waste your time looking for anyone else to take care of this because we will not be under sold.
Please fill out the form below or call us at 1-800-610-4510

Please, enter a valid value