The cost of moving from one home to another for more space has become more expensive thanks to the additional price tag of closing costs and land transfer taxes. One way to remedy this issue is to create more space in your home. For homeowners who live in a bungalow, they may be in an ideal situation to double the amount of space they have for reasons, such as accommodating a growing family or the need for a multigenerational home. All they have to do is stack a new addition to their house and voila, a second storey home. (The HST housing rebate they'd qualify for thanks to the extensive renovation doesn't hurt either.) Also, these types of additions can also be added to a home that has a single-storey garage, but they're a perfect option for homeowners with a small lot. One tactic used by some companies is to build the frame walls, floors and roof for the additional storey off site, then haul the completed pieces to the house. From there, the addition can be added in and the installation isn't as weather dependent. This also allows for a shorter construction time and less disruption during the renovation. Some of the common construction materials used in these additions are laminated veneer lumber (LVL) and laminated strand lumber (LSL), which have longer lifespans and less defects, according to the Star. Engineered wood truss joists are used frequently to support the ceilings or floors. The cost of renovations can vary, but it also depends on how much more work you want done. Covering the basics, which includes windows, roofing, siding, permits and framing, for a bungalow that's 750 square feet could be under $60,000, according to the Toronto Star. But some additional changes to be done include fixing the electrical, plumbing, stairs and HVAC and the more you add on, the higher the dollar signs add up. Renovating your bottom floor and the quality of the materials you use can contribute to higher prices and your reno job could easily hit six digits and then some. (Also, when the roof is removed, your family will need to move out, which also adds to the project's cost.) Recently, a second-storey addition to a Toronto bungalow featured in the National Post cost the couple $700,000. Renovations took ten months and the bungalow was transformed into a three-storey, 2,800-square-foot house from a 1,100-square-foot home. Some of the changes include ten-foot ceilings on the main floor, three bedrooms on the second floor, a family room on the top floor and a roof top terrace. The pair enjoyed living in the neighbourhood, but couldn't find a larger home that they could afford. Keep in mind that all this work will require permits and it's important to check that your builder has the appropriate ones. Your foundation will need to be inspected to check that it can support the additional weight and you'll need to check whether bylaws allow you to build your property vertically. You might consider hiring a RenoMark contractor for peace of mind.Save money on your home renovations with help from Rebate4U, who will ensure a smooth HST rebate transaction. Our priority is to provide our clients with the most professional and quality service in obtaining rebates for their new and renovated homes. We are proud to offer our clients the most personal and attentive service, and we make sure that all of our clients are 100% satisfied.

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Tips to Ensure Your Renovation is Substantial Enough for the HST Rebate on New Homes

The Harmonized Sales Tax (HST) Rebate on home renovations is a significant financial incentive for homeowners in Ontario, providing a golden opportunity to recoup a portion of the expenses involved in upgrading and enhancing their living spaces. This rebate is offered via Canada Revenue Agency, and it aims to encourage property owners to invest in their homes, not just for personal satisfaction...

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How to Claim the HST Rebate on Rental Properties

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26 February 2024

How to Find a Tenant Ahead of Your HST Rental Rebate Application

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Renovations

10 February 2024

3 Stand-Out Benefits of Applying for HST Rebate on Home Renovations

Home renovations are a great way to revitalize your existing property to transform it into your dream home. Working with the best contractors you can make large-scale upgrade plans that rebuild your home from the ground up. With programs like the New Home HST Rebate in Ontario, the cost of these significant upgrades can be mitigated. By working with the experts at Rebate4U you can assess your...

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Renovations

31 January 2024

Why Turn Repairs into Renovations with the Home Renovation HST Rebate

Whether you’ve recently purchased a new home that needs a lot of work or are ready to upgrade your existing home, renovations and remodels can rack up quite the bill. But for homeowners in Ontario, the HST rebate on home renovations is a viable option that can help you get more return from your investment. Read on for more information!

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HST housing rebate

18 January 2024

Which Part of Your Home Renovations Are Subject to HST in Ontario?

Like with the transaction of any good or service in the province, there is a 13% tax (Harmonized Sales Tax) added to every purchase, including the sale properties. When buying a home, this tax can add up to a substantial amount. In Ontario, the HST Rebate program is offered to residential property buyers as a way to offset the cost of new home purchases.

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Condos

15 December 2023

What to Do When You're Not Ready to Move Into Your New Condo

If you’ve bought a new condo and want more insight into your rebate options, from the HST Rebate on new homes to the New Residential Rental Property Rebate, contact the experts at Rebate4U for more insight and personal guidance.

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27 November 2023

So You Built a New Home, Now What?

If you’ve recently finished building your new property in the last two years, you may be eligible for money back with the HST rebate in Ontario. The program allows homeowners to recover a portion of their HST spent on construction.

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Rebate Blog

17 October 2023

Signs You'll Benefit from the HST Rebate in Ontario

The HST Rebate in Ontario is a valuable and beneficial program available to homeowners in Ontario. Unfortunately, many new home buyers or even long-time homeowners are unaware of the program’s existence or their eligibility. The new home HST Rebate can be nuanced, but with the guidance of an experienced, trusted, and knowledgeable professional like the team at Rebate4U,...

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29 September 2023

Benefits of Renting Your Newly Purchased Home

It’s not uncommon for property owners to purchase a new home or condo with the intention of making it their primary residence but then later change their minds to use the newly acquired or built property as a rental unit. Whether you build the home from the ground up or determine that you no longer want to use a newly purchased property from the builder as a home for yourself, there are...

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