Finance

Budget and financial aid For starting your Renovation work

Change the windows, renovate the facades, and redo the electricity. You want to remodel your home, but you have trouble getting an idea of the necessary budget and financial aid? Here are some recommendations about ecoworks plumbing, masonry, carpentry, electricity, etc. for preparing your account and determining the assistance you can claim.

1 What expenses should you take into account in your budget?

The first step is, therefore, to take stock of your ideas and your desires. The budget includes the following expenditure items:

A preliminary study carried out by an architect or by a design office is sometimes necessary to validate the technical feasibility of a project. This makes it possible to measure the balance between your expectations, the possibilities offered by your accommodation, and your envisioned budget. It may detect renovation work that you have not identified to optimize your project. The design studies will allow you to define your renovation project precisely. You will also get an idea of its environmental impact.

ecoworks plumbing

The cost of carrying out the work

It is essential to take into consideration the different trades that will be called upon for the realization of the project (masonry, ecoworks plumbing, electricity, carpentry, etc.). Whether it is to change the windows, redo the ecoworks plumbing or replace your bathtub, you must integrate all the interventions into your budget. The cost related to the types of materials chosen

VAT applicable during a renovation

Renovation work in old accommodation (completed more than two years ago) can benefit from a reduction in VAT. Two rates are charged depending on the nature of your work:

Speed reduced to 5.5%: reserved for energy quality improvement work (insulation, windows, reduction of energy consumption, boiler, etc.)

The intermediate rate at 10%: development, maintenance, or improvement of housing, without energy improvement. This is the rate that most commonly applies to the renovation of a home.

Insurance costs, budget and financial aid

A renovation site can be a source of claims or damage. This is why it is essential that you and your professional are well insured. Depending on the nature of the work, you must ensure that you take out the necessary insurance: comprehensive home and civil liability insurance contract, structural damage insurance, etc. These insurances are compulsory because each party is responsible. Insurance must be in order before the start of the work or at the latest, on the first day of the book. To be on the safe side, you are strongly advised to plan for an extension of 10% of the overall amount in your budget.

To best estimate your budget, it is necessary to identify your needs and desires. Ademe, public authorities and organizations representing professionals have created the “Recognized Environmental Guarantor” (RGE) label designating eco-responsible professionals. This will help you make your choice and will give you access to individual public financial aid: the tax credit for energy transition (CITE) and the zero-rate eco-loan (Eco-PTZ).

2 What is the different financial aid for a renovation site?

Once your budget has been drawn up, it is necessary to determine the aid for which you can claim.  For your personal project, do not hesitate to seek help from advisers from the departmental agency for information on housing (ADIL) to establish your financing plan.

Among the many aids and funding, there are:

My Prime Renov

Help MaPrimeRénov help all homeowners by financing their energy renovation work. Further and final assistance created by the NS state, it applies in terms of resources and ecological gain provided by the s heating works, insulation or ventilation you incur. You can combine this aid with others such as reduced rate VAT, eco-PTZ, EEC and local authority aid.

The energy transition tax credit (CITE)

The CITE is intended for owners who are not eligible for MaPrimeRénov. This allows you to deduct 30% of the equipment and labour expenses for particular energy renovation works from your taxes.

To access the form allowing you to claim your energy transition tax credit as part of your income tax return: go to the public service website.

An eco-loan at zero interest (Eco-PTZ)

To benefit from it, the amount of renovation work must represent at least 25% of the total cost of the operation, that is to say, the purchase and renovation of the property. However, not all types of work are fundable with the zero-interest loan. Among the list of renovations included in this financing, there are, in particular:

  • extension of housing,
  • changing the heating system,
  • work allowing energy savings (excluding work already financed by the zero-rate eco-loan),
  • the creation of a partition in your living room, to make it a different place and to separate the kitchen,
  • the result of the attic.

The steps to properly renovate your entire home

If you own the accommodation in which you live, and it is in poor condition, check with the Anah. Depending on your income level, this organization can help you finance your work, such as:

  • the renovation of your roof,
  • consolidation of facades,
  • thermal renovation work,

of facilities in terms of accessibility (to encourage home support for seniors with mobility problems, for example).

A works credit

A personal work loan can be granted to you, in the same way as a consumer loan. You can compare existing credits via organizations specializing in real estate brokerage to help you find the best rate for your project (Best Rate, CAFPI, etc.). If you are an employee, find out about the measures put in place within the framework of 1% housing.

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