If you didn't get your renovations done in time to take advantage of the Home Renovation Tax Credit, you still will have a chance to save some money by doing your renovations prior to July 1, 2010, effective date of the harmonized sales tax (HST). You're going to want to move quickly though, since many of the good professional contractors are booked ahead.
As of July 1st, 2010, professional renovations will be subject to an extra 8 per cent tax, for which you're getting zero added value or service!
That extra cost is going to be felt when doing a larger renovation such as a kitchen or bathroom. It's really going to add up when going for an addition to your home.
While trying to save money, you don't want rushing into a project to backfire. Homeowners need to be careful when hiring a contractor, and to do their own due diligence. Don't hire the first person you speak with, and make sure you check their references.
Consider such sites as BILD which represents builders, professional renovation contractors and associate member. The membership is subject to a national code of ethics, with the renovation contractors abiding under a further code of conduct under the auspices of the Renomark program.
For more information about a RenoMark contractor: http://www.renomark.ca/
Spring is in the air, so it's a great time to consider freshening up your home! Regardless of when you plan your renovation projects, do your homework! That alone will save you money!
