[caption id="attachment_527" align="alignleft" width="224"] (Photo credit: revelpix/iStockphoto.com)[/caption] Sometimes when you go shopping, you decide to go with a higher quality product or material in hopes that it'll last longer. That same mentality can be applied to home renovations and not only may it last longer, but paying more now may give you more money later when it comes time to sell your home. When deciding on home renovations, it's in your best interest to go ahead with jobs that will benefit your lifestyle, but will also add to your resale value. Each year, Remodelling magazine weighs the cost of a reno job to the value it adds to your property. If you take on one of these three upscale jobs, you won't be disappointed with the value it'll add to your property when it comes time to put it on the market.

Siding replacement (foam-backed vinyl)

Your home's siding acts as a crucial barrier to protect your home from the elements and to help preserve the property, but it also plays an important role in a potential buyer's first impression of your home. There are many different siding materials you could use: wood, composite, cedar and vinyl. The advantage of vinyl siding is that it'll require very little maintenance, besides a yearly cleaning with soap and water. The job will cost you $15,184, including factory trim and at all openings and corners, to replace 1,250 square feet, according to Remodelling magazine. When it comes to sell, this reno will boost your value by $11,790, which means you recoup 77.6 per cent of the reno costs.

Garage door replacement

If you don't like how your garage door looks, it may be time to replace it since it'll slightly bump up your home's value. If you replace a 16x7 foot garage door with one made out of high tensile strength steel with ½-inch insulated glass windows, which comes with a lifetime warranty, it'll cost you $2,944, but you'll recoup 82.5% of that cost ($2,429) when it comes time to sell.

Siding replacement (fiber-cement)

If you prefer a sleeker look for your home's exterior, you might decide to go with a composite siding material made out of fiber-cement. While this type of siding requires some painting to be done and special cutting tools, it is fireproof, rot-resistant and it'll hold the paint colours for longer. If you replace 1,350 square feet of siding which is factory primed and painted, it will cost you $14,014, but you'll be able to recoup the majority of the job's cost (84.3%) since it adds $11,816 to your home's value. Rebate4U can help you figure out whether the renovations you've done to your property make you eligible for an HST housing rebate. 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.

More of our Blogs

Renovations

26 March 2024

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...

View Full Post

Renting

13 March 2024

How to Claim the HST Rebate on Rental Properties

The HST rebate on rental properties or the New Residential Rental Property Rebate is an excellent opportunity for new condos and homeowners who are not planning on occupying the property to get some money back that was invested in the purchase of the new home. Choosing to rent a property is an effective secondary passive income. When paired with the HST Rebate in Ontario, a rental property can be...

View Full Post

Renting

26 February 2024

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

If you’re renting out a new residential property, the HST Rebate in Ontario is a great opportunity to get back some of the money you’ve invested into purchasing the condo. Available via Canada Revenue Agency, the New Residential Rental Rebate Program can mean thousands of dollars back. To qualify for this rebate program in Ontario, you must meet the criteria set out by Canada Revenue...

View Full Post

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...

View Full Post

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!

View Full Post

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.

View Full Post

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.

View Full Post

Newly built homes

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.

View Full Post

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,...

View Full Post

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...

View Full Post