Over the weekend I was helping a client purchase a home and one of their concerns were some repairs that this home required. The estimated repairs were around $5,400 and I asked if they were aware of the home renovation tax credit and other incentives provided by various government agencies?
They were not so I provided them with a number and website to go to. And this morning, I went on a listing interview (which was successful) and in suggesting some minor upgrades which would maximize the selling price, my new clients were not aware of any incentives. Again, I gladly provided this information and thought I would write this blog to allow more home buyers and home sellers to become aware of these incentives. Briefly, the following will give a few examples:
Save up to $1,350 on home improvements purchased before February 1, 2010. This credit is provided by the Canadian Government and is based on elegible expenses for improvements to your house, condo or cottage.
Some of the eligible expenses you can claim:
. Renovating a kitchen, bathroom or basement
. New windows, doors or flooring
. Building an addition, garage, deck, shed or fence
. New furnace, fireplace
. New driveway or resurfacing
. New roof or re-shingling
. Permanent swimming pools, in-ground and above-ground
. Fixtures blinds, shutters, awnings, lights, fans etc
For more information and forms, go to www.actionplan.gc.ca or call 1-877-959-1-CRA