Renovating an old house by a musical couple who want to live there the rest of their lives.
The Final Contractor’s Bill and Livable Home Credit
In every project there are pluses and minuses in the cost of unforeseen circumstances. In an email from the contractor I received the following:
This is what I have as far as the extras and credits. Look it over when you get a chance and let me know if this sounds right or there are any discrepancies. I will be working a few minutes from your house for the next 3 weeks, so I will come by and get a check when it is convenient.
The final tally with a credit for the broken light is that I owe our contractor $2135. I’m going to try to recoup some of these costs by applying for a Livable Home Tax Credit. The maximum is $2500 per year deducted from property taxes.
We have at least 3 of these highlighted above in green. Features that may qualify for the credit include widening doorways, removing barriers, adding safety features, and creating livable spaces on a single floor.
So I have collected all the paperwork — application, certification, building permit, receipts — and am hoping to recoup $2500 worth of costs. As we continue to make improvements we can apply each year provided a permit is pulled for the work and the amount exceeds $500. I plan to become a professional tax credit application specialist.
Are you taking advantage of every credit? Do you hate paperwork? Compliance?
Welcome to The Glade, where the second generation of renovations has just begun and the mania about our home, music and other passions fill our days and nights.
We’re Charlie and Jo in the music world; Mary Jo and Charles to family; and JoJo and Charlie to each other. We are renovating a midcentury house in a Victorian historic district where we want to live there the rest of our lives. It's a 1946 house located in Maryland. We were married in this house.
Thus far (pre-blog) we refinished cabinets, added a window seat (still working on the cushion), rearranged a wall in the guest house due to sink/vanity replacement, planted a vegetable garden, and other quick and not-so-quick fixes. So this latest zeal for construction is the result of my having lived here since 1997 and feeling a need to ready the house for the next chapter and beyond.
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