Deciding to go through the home remodeling process can provide you with many benefits. If the project you are considering involves simple home improvements, upgrading or upgrading of multiple rooms, or adding a new room, remodel projects can be a very rewarding and profitable experience.
Many homeowners are overwhelmed by the choices and decisions involved in a home improvement project. will guide you through the entire process from planning to finishing touches. Even in the early planning stages there are many decisions that must be made. Working with our team of professionals will make your home improvement project more enjoyable and reduce stress.
Make your home more comfortable
Improving the design of your home can also make your home more functional. Your home is an important part of your life and there is no reason to be uncomfortable in the one place where your day ends.
Increase Real Estate Value
If you plan to sell the home, refinance your mortgage, or simply invest in your home for the future, a remodeling project is a good way to increase its value.
Reduce maintenance costs
Every building has to be maintained and repaired in order to maintain its value. Your home is no exception. Home repair costs often rise significantly when maintenance is ignored or postponed for too long. Starting a repair or improvement project, when a problem is first noticed will often save you money.
Investing in remodeling houses in historic centers
Investing in remodeling houses in historic centers can be very advantageous. Find out the reasons why you can take advantage of buying a house to remodel in the center of Lisbon.
Nowadays, the return to historic centers is a reality. Points of unavoidable interest and, usually, of stunning beauty and history, these city places are fabulous to live in or simply to invest in.
The projects that have been carried out with the remodeling of buildings in these places have demonstrated how the old can be transformed and take on a new life. Usually keeping the old and beautiful facades, these houses become true modern palaces inside and, at the same time, allow you to find the best location, the most comfortable house and the best investment benefits.
The remodeling of buildings is a current fashion … but there are several reasons why this is so. Today, we will explore some of the reasons why it is worth investing in remodeling houses in historic centers and, especially, in the historic center of Lisbon.
1. The intense search for houses in Lisbon
While talking about the construction of new housing spaces, in order to respond to this intense demand for houses to rent or buy, the city councils are instituting alternatives to improve the housing scenario.
The benefits created to support rehabilitation works in spaces such as historic centers appear, therefore, as a magnificent investment opportunity for those looking for a house in the capital or for those who wish to take advantage of the current residential context and bet on the rental market.
2. Programs to support home remodeling in historic centers
Currently, there is no shortage of programs aimed at housing rehabilitation and, one of them, IFRRU 2020, aims at urban rehabilitation, through application, for individuals or companies, in buildings over 3 decades old and in locations such as historic centers.
In addition, programs for the rehabilitation of spaces for the purpose of leasing also exist, financing up to 50% with short-term loans.
In Lisbon, we also find the program “Reabilita Primeiro, Paga Later”, which is aimed at investors who want to recover the properties – including those in the historic center – and the payment can be made until the end of the term stipulated in the contract, which will already contain the necessary space for the execution of changes, legal processes and subsequent sale of the property.
3. Tax benefits
In addition to the programs mentioned, there are several tax benefits that support investment in the remodeling of houses in historic centers.
Among the benefits that you can find, at the tax level, is an exemption in the payment of the Municipal Property Tax (IMI), which can go from 3 to 5 years; and the exemption from the Municipal Tax on Transmissions for Property (IMT).
In the case of carrying out this remodeling in historic areas, there will also be a 50% reduction in the Occupancy Rate in the Public Domain (TODO) during the first 4 months. In addition, the rehabilitation of properties also exempts the payment of the Administrative Fee.
Those who choose to invest in this type of remodeling, in the historic center, will still have a reduction in the VAT rate, which is currently placed at 6%.
The current scenario, where intense demand, government programs and tax benefits combine, create a very positive space for investment, for those who want to invest in the remodeling and rehabilitation of buildings located in historic centers.
Of course, if this is your case, you should remember that there are several partners available to assist you in the decision-making process and to give you all the information necessary to ensure that you invest your money in the best way and that your investment is profitable within a shorter time.