The right year for the building renovation it's 2018, there is still time to get organized and understand how to seize the opportunity offered by the reliefs valid until 31 December of the current year.
You may not have thought about it so far but there is some work to improve the house that could be done in the coming months, so it is better to proceed now and combine the profit with relief, rather than postpone, like "procrastinators", perhaps finding himself doing it in mid-2019 urgently and without any economic advantage!
Building renovations: definition
You read relief and your mouth is already watering, but let's see precisely what are the cases in which they are valid, that is, let's see what "building renovations" means. This type of work includes interventions that modify the interior and exterior of the home, we can divide them into three categories in which we hope to be able to include what we have to do. This would mean being able to benefit from the relief.
There are the ordinary maintenance works, those of extraordinary maintenance and those considered even "great works". In the first case these are minimally invasive interventions with which you go to repair or replace parts of the house or roof. The improvement works are also ordinary which, even if done outside the house, do not alter its size.
We talk about extraordinary maintenance when the works touch structural parts of the building by breaking down walls, for example, but certainly not the load-bearing ones, or by changing the systems to renew them. To carry out "major works" you need a concession from the Municipality and it is better to ask for the opinion of an expert since these are works that involve at least partial changes, both in the structure and in the volumes of the house.
Restructuring: the reductions provided for by law
If the work we would like to do falls into one of these three categories, we can benefit from a "pleasant" tax relief, as explained in art. 16-bis of Presidential Decree 917/86. The economic benefits for basic building renovations consist of a deduction from the income tax of 36% of the expenses incurred, up to a total amount of the same not exceeding 48,000 euros per property unit.
If we have time to pay the expenses before 31 December 2018, however, the deduction is 50%, do the specific calculations yourself, it is not a bad advantage at all. Moreover, the maximum spending limit also changes, it becomes 96,000 euros, also including those who are in another particular and quite frequent situation when it comes to building renovations. This is the case in which you buy a building for residential use and carry out renovations. The deduction is applicable to restoration and conservative rehabilitation and building renovation works, concerning entire buildings, however, they must be carried out by construction or real estate renovation companies and by building cooperatives. There are a number of limits and conditions to be respected and on the official website of the Revenue Agency you can find the updated specifications.
How to take the opportunity to improve your home
Let's leave aside for now the specific case of buying a new house to renovate and go back to ours, let's look around and try to understand how to take advantage of the 2018 opportunity to renovate, arrange, beautify the spaces in which our life it continues and will continue even upon expiry of the relief. No superstition, with this statement I intend to invite everyone not to postpone, indeed, to potentially anticipate some jobs that could become urgent in 2019, to take the reliefs and also get rid of the thought of having the house in the air, which can sometimes be annoying .
There are many routine maintenance interventions that, even if small, can change your life. Those to optimize insulation, by installing new fixtures or a thermal coat on the walls. If we are in the creative mood we can create open spaces and divide the space differently using sliding doors or panels. If we are in the green mood, my favorite, we can instead carry out building renovations for greater energy savings through the use of natural insulation and materials. Wood, but not only.
Estimates: how and where to request them to obtain reliefs
How much does the reconstruction of the walls cost? What about the renovation of a floor? If we have to install new windows, per square meter, will we spend more than 150 euros? These are all questions that may arise if we are not in the sector but want to get an idea of the expense that the job we plan to do implies. The cost of a complete home renovation is also a big unknown, given the number of factors that affect the price. This is why it is important to be able to ask for estimates from a series of experts, not for lack of confidence but to have a clearer idea of the value of the interventions. In view of the reliefs, in percentage terms, it is clear that the cost of the work is an essential piece of our domestic puzzle.
Habitissimo: free estimates
One of the consolidated companies in the sector that allows you to quickly obtain a professional quote is Very habitable.
In a few days it is thus possible to receive a proposal for a quote from up to four professionals or companies in the sector completely free of charge and without obligation. In this way you can get a precise idea of the costs and services offered, proceeding with "clear agreements".
Habitissimo is a leading website in Spain, Brazil and Latin America, born in 2009 with the mission of connecting supply and demand for the construction, renovation and home services sector.
Today it can boast a network with over 270,000 registered professionals and companies, more than a million requests for quotations have so far been published online. These are numbers that give confidence, not to mention the fact that Habitissimo was born and has remained faithful to intangible values but which have a certain weight.