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The government will begin supporting home improvements from January 1, Katalin Novák, the minister without portfolio for families, announced on Wednesday. As part of the program
Half of the home renovation costs for families raising at least one child is borne by the state, up to a maximum of HUF 3 million.This is a new element of the home construction program launched in 2015, it is not a condition to apply for renovation support that the family benefit from the discount for family home construction, that is, chocolate.
Explaining the details, the minister said that if someone starts renewing after January 1, 2021 and collects the bills, the state will reimburse them for half the costs, up to a maximum of three million guilders. This also applies to material procurement and labor costs. As part of the program, the government supports any renovation, be it energy retrofits or renovation of a bathroom or kitchen, or a self-contained home.
The home renovation program will be opened from the top, with resources tailored to needs. Responding to a question, the minister said he would ask for patience until the detailed rules are worked out, and everyone is expected to know the detailed terms of the support in a few weeks. Novák also said that, as a minister, he is working to make Hungary’s largest housing construction program a reality.
According to Novák, it is already worth agreeing with the professionals undertaking the renovation, because presumably many people will want to take advantage of the opportunity. He also recalled that it was recently announced that the VAT rate on sales of newly built homes would be reduced from 27% to 5% again from January 1. Families using chocolate can also claim 5 percent VAT when purchasing their new home.
In the case of an apartment advertised for HUF 30 million plus VAT, a family can save HUF 6.5 million with 5% VAT, in addition to recovering another HUF 1.5 million. So if they buy the property with a check, this family can save a total of 8 million guilders, according to Katalin Novák. (MTI)
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