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Basement Renovation Tax Relief

By: Lifschitz

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With the government’s Home Renovation Tax Credit and low interest rates, the time is now to maximize the living space in your basement.

With a payback value of more than 50 per cent, the real payback comes in the added enjoyment of the space created.

Home Offices
With more and more people telecommuting and self-employed, a well-designed home office is a definite selling feature. Choose a location away from the hub of family life and make sure that your renovation includes soundproofing. Proper lighting is essential for a basement office. Include lots of recessed fixtures and task lighting to ensure a cosy, bright working area. Remember to include upgraded electrical requirements in your planning. Computers, photocopiers, printers and lighting will probably require an extra circuit.

Home Theatre
If you’ve been yearning for a large-screen television with surround sound, you can create a home theatre in your basement. It’s the easiest area of the house to sound-proof, you can have it as dark as a movie theatre and there is usually the space to accommodate seating at the proper distance (10 feet or more, depending on the size of the screen.) It is a great place to sit and enjoy a good movie with your family or by yourself or a place to host guests and wow them with what you've been able to set up.

Additional bathroom
Spa-type bathrooms with luxurious whirlpool baths or soaker tubs are popular choices. If you have the space, why not add a sauna or workout room to complete your home spa. Accentuate the bathroom with the use of candles for added aroma and scent. Consider during renovation the color scheme of your bathroom, stonework tiles and a stone countertop with light brown colors would work beautifully. This can be your spot to relax and get away from stressful work days when need be.

Playroom
The basement has always been a popular location for the playroom, for children of all ages, from tot to teens. For young children, choose a floor surface that cleans easily and can handle ride-on toy traffic and physical activity. As they grow, carpeting is a good choice, both for comfort and for sound-proofing qualities.

Family Room
Combining a couple of rooms into one can create a spacious and inviting family room in your basement. Add to the ambiance and comfort by installing a zero-clearance fireplace.

Whatever your choice, the entrance to your basement should say “Welcome” with lots of light, soft carpeting and interesting architectural details. Use a combination of recessed light, task lighting and indirect lighting to create a warm and cosy atmosphere for working and relaxing this winter.

Don't miss out on home renovation opportunities, the tax credit provided by the government of Canada is not going to be around for much longer when the recession slowly dwindles away, so will the home renovation tax credit for home owners. The reason we suggest major renovations is because tax relief is only provided on the major renovaiton jobs in order to boost up the home renovation industry and bring together satisfied home owners with worthy and reliable contractors.

Article Source: http://depositarticles.com/

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