But deciding on the type of renovations you want can be tricky. While you may enjoy a swimming pool, it isn’t necessarily a renovation that will benefit your home’s value since many homeowners don’t want one. The kitchen or bathroom may not be a room that you think needs to be redone, but both of these aspects can provide large increases to your property’s value. And not all renovations are aesthetic, such as updating your windows. If you have old windows, replacing them could result in instant savings since it could reduce air leaks and drop your heating and air conditioning costs.

Homeowners sometimes take on larger renovations, such as adding more space to their home for additional family members, whether it’s another room or gutting the home’s interior due to asbestos or structural issues. As multi-generation homes become more common, sometimes homeowners want to add to their starter house rather than purchase another residence since there are extra costs they need to consider including a land transfer tax, lawyer fees and a long process of finding the right property in the right area. A home rebate can add to your budget and help you make your renovations possible.

Larger renovations can take months and sometimes the homeowners need to find alternative living accommodations during the renovations. Money goes towards hiring contractors, buying materials and sometimes day-to-day costs if you aren’t staying at home, which is why it’s important to set a renovation budget. This way you have an amount in mind of how much you need to save up, as well as what changes you can make and what you can’t. With renovations, it’s a delicate balance between debating the changes the owner likes and the changes that will increase the property’s value compared to the changes the owner can sacrifice and the changes that won’t add much value. Unfortunately, sometimes there are unforeseen circumstances that can drastically increase your repair costs, such as issues with electrical or structural that are only discovered when the property’s structure is revealed. This is why it’s always good to spend under your budget and give yourself a little breathing room. An HST renovation tax rebate can also help you cover some of that windfall.

But, before any of these changes begin, it’s important to ensure that the city approves the work you’re planning. When developers build homes, they must be up to specific safety standards and zoning bylaws. Typically, many major housing changes need a permit from the city, which is important to have before you proceed. In some cases, the city has told homeowners to demolish parts of their property – or even the entire property – if they’ve done extreme home upgrades without any approval. Don’t throw your money away by ensuring that you’re following the proper protocol and save money by having Rebate4U apply for a new home HST rebate.

Another important part of the renovation process is choosing a trustworthy contractor that fits into your budget. Ask for recommendations from people who’ve used contractors to do some of their home renovation work, since they have first-hand experience with this contractor. Even after you receive a name and a number, do your due diligence and conduct thorough research on the contractor, which includes getting references and seeing if you’re able to take a look at some of the previous work they have done. There have been many unfortunate scenarios where homeowners have been left with construction issues after hiring the wrong person. After you’ve ensured that this contractor has a good reputation, get a quote and see if it’s something that you can afford. Don’t be afraid to shop around for a contractor that will be a proper fit for the job and also consider the different timelines they can give you for the project. You might not know this, but an HST rebate can help you cover some of your costs.

The common denominator with any renovation changes you make is they require money and an HST renovation tax rebate is a great option. A great aspect of the HST rebate is that you don’t have to file a claim right away. You have up to two years to claim the amount, which is beneficial for any homeowners who were not aware of the HST rebate.

If investors are looking to park their money in a residential property, they have the option of purchasing a house or a condo. There is currently a widening gap between the cost of condos and houses in some cities, which is why it’s important to research the housing market of the place you plan to invest. Some cities, such as Toronto, Montreal and Vancouver, are buoyed with foreign investors, which in some cases has driven housing prices higher. There’s a larger barrier to entry for first-time home owners in these cities, but the city’s rental rate is important to consider as well. In many cases, if the local housing market has a low rental vacancy rate, then investors can rent out their property to cover the cost of their mortgage and utilities, which means no extra costs for them. To help you offset some of these costs, an HST rebate or a condo rebate will be beneficial to you.

If you follow the news, the housing market may seem like a scary investment. You can never be sure whether your home will gain or lose value, especially with the large housing correction that took place in the United States during the 2008 recession. But one of the major benefits of investing in housing is that they are typically functional, long-term investments. Homes can be held as an investment property for many decades and even passed onto future generations. It’s common for housing markets to experience ups and downs and as long as you don’t need to tap into your nest egg, you can continue to wait until the property’s value improves. If you apply for the HST rebate, you will be given some extra money to help reduce the risk on purchasing a new investment property.

Housing markets can also be slightly unpredictable due to changes in the city’s infrastructure, the neighbourhood, or zoning that can have an impact on your property’s value and are out of your control. Investors shouldn’t buy and sell property too quickly, since there are also land transfer costs that need to be paid when you buy a property and also you tend to swallow a large tax charge for the money you receive. Luckily, an HST rebate is a perfect option to help you recoup your money, but these extra costs affect the profit your investment provides.

When you buy a property, homeowners pay a large amount of tax thanks to the high purchase price. The government’s HST rebate lets you take portions of the HST back which is a welcome relief to many customers. Rebate4U can help customers receive an HST new residential rental property rebate of up to $30,000. When you lease your property, you will be required to pay HST, but Rebate4U can help you receive this HST paid and provincial portions, back. Some people may be sceptical of our services, but we consult lawyers and accountants who ensure that the money you receive is legitimate. Let Rebate4U put an HST rebate in your pocket.