Spring has sprung in Saskatoon believe it or not (the snow lately would make us believe otherwise!) which means that Home Depot and Rona in Saskatoon are busier than ever with people getting the itch to renovate their homes in Saskatoon. With the current global economic slowdown another area that has been suffering is home renovations in Saskatoon and across the world. The Government has recognized that this area is also suffering so they are assisting this industry. For all home renovations between January 27, 2009 and February 1st, 2010 the government is offering a 15% rebate.
This helps with the houses for sale in Saskatoon and keep in mind that home renovations arent just to make your house look pretty; renovating your houses in Saskatoon also may save you money in the long run with more energy efficient and eco friendly houses in Saskatoon. Some products that are available and that make sense to put into your Saskatoon home are: dual flush toilets/low-water consumption toilets, new windows, proper/additional insulation, high efficient furnaces, and programmable thermostats.
As with all rebate programs there are certain rules you have to follow therefore it is important to read these guidelines and confirm that your project will be subsidized. For example, furniture and accessories are not items covered in the rebate, nor are new appliances for your kitchen.
Some of the projects that will be covered are replacing old windows, any type of kitchen/bathroom renovation, and basement renovations. Even if you can do the work yourself you can claim for products, materials, and even equipment rental.
Dont forget that the City of Saskatoon needs money too therefore building permits are required and mandatory with any type of renovation to your Saskatoon home. Not having a permit can cause delays and hefty fines. Most people prefer not to pull permits but from a real estate in Saskatoon perspective when you put your house for sale in Saskatoon you are much better off if you can prove that you have pulled permits to do your renovations. These permits are also eligible for the 15% rebate.
You can claim a minimum of $1000 and a maximum of $10,000 and you claim it when filing your income tax return. For specifics you should contact the Department of Finance Canada and ask about your eligibility for HRTC at 1-800-O-Canada
If you need some help with your home renovations in Saskatoon I know a few people who are great so feel free to contact me for a referral!
Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty