Hello, this is Conspirito's real estate column.

Today I'll talk about "renovation loans."

When purchasing a home, there is a system called "Housing Subsidy" for home loans.

Tax reductions apply.

Previously, we have published an article on the topic of "Mortgage tax reduction: Floor area requirements to be relaxed"

CPM Hasegawa was speaking about it on YouTube, did you have a chance to watch it?

reference:YouTube Conspirito Official Channel "About Housing Loan Tax Reduction"

 

 

The floor area requirement has been relaxed, but the age of the building has not.

I'm sure many people were disappointed.

I hope this will be eased in the future...

In fact, there are cases where you purchase a used apartment or house and renovate it.

Home loan tax deductions are available.

Here too, the condition is that the property must meet certain earthquake resistance standards.

If the property you are considering or the property you own is eligible,

Now that we are spending more time at home due to the stay-at-home system,

Why not improve your quality of life through remodeling and renovation?

 

Key points regarding usage requirements

・Reside in the property yourself

・Floor area is 50m2 or more

・In the case of a used house, it must have earthquake resistance.

・The repayment period of the loan is 10 years or more.

・Total income amount is 30 million yen or less

・Construction costs must be over 1 million yen

 

For more information, please refer to the following↓

Ministry of Land, Infrastructure, Transport and Tourism Housing Subsidy (Outline of Housing Loan Tax Reduction System)

 

*Applicable extension and renovation work

・Construction of extensions, renovations, large-scale repairs or large-scale remodeling as stipulated in the Building Standards Act

- Certain repairs and remodeling work to be carried out on the majority of the floors, stairs, or walls of the exclusive areas of an apartment

- Repair and remodeling work to the entire floor or wall of a room in a house, such as a living room, kitchen, bathroom, toilet, washroom, storeroom, entrance hall, or corridor.

・Seismic retrofitting work (complying with current earthquake resistance standards)

・ Certain barrier-free renovation works

・ Certain energy-saving renovation works

 

Please see here for tax guidelines.

Housing Renovation Promotion Council

 

 

At Conspirito, we handle everything from property purchases to renovation work.

We respond consistently.

Please feel free to contact us.

 

↓For real estate consultation, click here↓