Does your real estate project include major work? Do you want to find financing solutions adapted to your personal situation? No worries. Many works credit arrangements can be imagined for the success of your project. We take stock of all available aid and work loans for you.
What Is The State Aid For Carrying Out Work?
Before turning to the banks and the work credit solution, it will be wise to shop around for any work aid. The State has, in fact, set up aid to promote, among other things, the development of energy renovation works. Allocated in the form of a credit for tax purposes, zero-interest loans, or subsidies, this aid can reach a not-insignificant amount.
● Tax Credits
Tax credits for the energy transition can make it possible to deduct 30% of expenses incurred from taxes for an energy renovation, such as the purchase of a stove or the performance of insulation work (windows, wall insulation, or attic …). This tax credit, capped at $ 8,000 per person, is a real incentive to carry out this development work.
● Ana Grants
For households with modest incomes who wish to renovate a dwelling over 15 years old, certain subsidies are possible. Managed at the local level, these grants from Ana (National Housing Agency) can amount to up to $ 25,000 depending on your situation and the project.
● The Zero-Interest Eco-Loan
Administered by banks, the zero-rate eco-loan allows borrowing up to $ 30,000 at zero rates, over a period of 3 to 10 years. This loan is only intended for energy renovation work on the main residence. This work will be, for example, the insulation of the entire roof, the insulation of at least half of the glass walls, or the installation of renewable energy heating. From the moment you carry out at least two of these three eligible works, you can also include additional works in the envelope.
Other Work Financing Solutions
To successfully finance all of your work, you will be able to take out a work credit. This consumer loan can reach an amount of $ 75,000 and will finance any type of work. To grant you this work loan, the banks will study your debt ratio as well as your repayment capacities, in the same way as for a mortgage. The credit will be released on the presentation of invoices within the limit of the amount granted.
Finally, in the context of acquisition with works, it is preferable to finance your acquisition with a mortgage and to keep your contribution to finance the works. Indeed, the mortgage rate will be lower than that of the loan of a work.
Choosing the right financing solution is important for the success of your renovation project. In this part, the experience and know-how of a real estate agent can be decisive. An agent will be able to direct you to the right financial contacts. This same real estate agent will also be able to put you in touch with a network of serious craftsmen whose work has been validated on other sites.
To Read more, 7 Ways To Finance Your Renovations.
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