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Support for home renovation 2021
The announcement came in mid-October that the government would launch a home renovation program starting on January 1. According to Katalin Novák, families raising at least one child will bear half the costs of renovating their homes, up to a maximum of 3 million HUF. You do not need to add CSOK to apply for a new item in the home improvement program launched in 2015.
By the way, according to the preliminary announcements, starting on January 1, the VAT of 5 percent on new homes will also be deducted. With the announcement, not only families purchasing a new apartment, but also owners of used homes will benefit from subsidies from the housing program.
Who is entitled to support for home renovation?
Explaining the details of the home renovation program, the minister said that if someone starts renovating and collects the bills after January 1, 2021, the state will reimburse them for half of their costs, up to a maximum of three million guilders. .
Experts will discuss the national real estate market in detail at the Property Investment Forum conference on November 19, 2020. Click for more details.
A few days later, the Minister added that the reimbursement of 3 million will also be available to those who are entitled to the costs of materials and labor, but also said that the age of the adopted children will be linked to the renewal allowance of the housing, but for parents who receive support from GYOD after their child is ill and live with their child, they do not plan to have that age limit.
And now it has been announced that starting on January 1, young people who are about to have children or who are already raising children can receive a grant of up to 10 million HUF to create a new multi-generational household. According to Katalin Novák, the government supports the creation of new multigenerational homes, therefore, as of January 1, the maximum amount of family support (check) can be used for the installation of the attic of single-family homes, and from January the government buy new or used property.
Home renovation and construction
In recent years, the biggest problem in the construction industry has been a labor shortage, and this has sadly often been reflected in the quality of work performed and the time spent. However, due to the outbreak of the epidemic, there were fewer orders and a large number of skilled workers returned home from abroad, so the shortage was less felt. The question is what impact the recently announced allowance for home construction under family support will have on the labor shortage in the construction industry.
The support announced by Katalin Novák may now encourage hundreds of thousands of families to renovate their homes. However, the renovation increases the need for labor, so many fear that they will now have to wait months again to do expensive tiling, painting, plastering or any other professional work.
Construction and design companies currently have an order book 25 percent smaller than a year ago, suggesting that even if solvent demand in the housing market expands, there will still be enough capacity, he said. László Koji, president of the National Union of Construction Employers (ÉVOSZ).
Cover Image Source: Getty Images
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