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Posted in Family Fashion

Build a new home and have your tax money back

Build a new home and have your tax money back

Owning a home in our nowadays economic context is something important. Now everybody can afford to build or buy a property and managing to do so requires a lot of expenses, loans and efforts. However, many can have a part of their expenses back as a tax rebate. Therefore, having a comfortable place of your own to live in can have another outcome, after all. This comes as an amount of money of $ 30,000, tops. To have a more pleasant new condo tax rebate experience however, you should hire one of the profile agencies to help you in the process and maximize your chances to get the most you can. However, you should know some aspects before applying for a tax rebate, and we are here to help.

 

Who are the eligible applicants?

New condo owners are entitled to this type of tax rebate, only if they register the property as a main residence. Additionally, if you are a fresh owner of a condominium and you consider using it for lending purposes, you can also apply for this type of tax rebate. The only rule is to prove you have a lending agreement for at least a year. The amount of money you can have back is quite consistent, about $ 30,000.

What documents an eligible applicant must submit?

A new owner that is planning to use the new property for lending purposes must submit a one year lease agreement, the agreement of purchase and sale and the closing statement of adjustment, all copies. Every investor can profit from such a rebate and reinvest the amount recovered.

Should I hire professionals?

Most certainly, yes! Many individuals cannot find the energy and resources to properly manage a process of this kind, not to mention the experience such task requires. A company specialised in services of this kind is never charging before you get your money back into your account. All you have to do is to provide the previous documents to a specialist and wait for the money to come. However, you must have some patience, because this process can last up to two years.

Can I apply for a regular house tax rebate as well?

Yes, if your house has been purchased or built within the last two years. However, the definition of “house” is quite permissive, given the fact that the law recognises as houses blocks of residence, a duplex, a mobile house, a condominium, or even a floating house. Therefore, you can build whatever type of house you feel it will please you more and still get your tax money back.

Whatever type of home you own, you must know there is a big chance to be eligible for a tax rebate. The primary condition is to have it as a main residence and the purchase to be made within the last two years. Given the fact that the process is quite complicated, our advice would be to hire a team a professional to help you in this matter.