Can a home addition get you an HST rebate? 01/25/16


There are many people who feel like their house is missing something, but they do not want to move to a different one for various reasons. Either they like the neighborhood or they have gotten used to living there, if you do not have enough space in your home to accommodate all your needs, it may be time to consider building an addition. Sure, this will entail an investment from your part, buy you may also become eligible for a HST Ontario rebate which can allow you to get a considerable amount of your investment back.

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How long does the application process take?

 

Real estate experts will evaluate your home addition and determine whether or not you are eligible for a tax rebate. This application typically takes between 4 and 16 weeks from the time you first submit your documents to when you actually receive your payment. The best part is that you don’t have to worry about any fees in this process, because most of the times these specialists only charge a commission fee after you have received your rebate, so you will not have to pay anything in advance.

 

What type of home addition can I build?

 

The possibilities are quite diverse. You could build a sunroom or a home office if that is what you need. You could even build a separate suite for various guests that you would normal have to accommodate in a hotel such as your parent or your in-laws when they decide to visit. That separate suite could also serve as playroom for children when you don’t have guests, so as you can see there certainly are a lot of options to choose from if you decide to do this.

 

Building out

If the space allows you, this is the least expensive type of home addition that you can choose and that is because you can simply start building anything you need. However, you should keep in mind that the material you choose for this addition should match the one the rest of the house is made from, except if what you want to build is a sun room. This is because you want to addition to look like an integrated part of the house and this is the only way to do so.

 

Building up or down

This is a bit more expensive investment, but it will also increase the value of your home considerably as many potential buyers are interested in home that have an upstairs, so if you think that there is a chance of selling the house in the future, it is something worth considering. This is also a suitable option if you don’t have that much space to build out the addition, because you would still like to enjoy your garden.

 

A new home addition will make your life more comfortable and increase the value of your property and when you take into account the amount that you may receive through an HST rebate, this investment clearly becomes very advantageous.