Financing

If the renovation costs are higher than your annual income, it pays off the divide the work into multiple tax periods. In addition, there are many advantages for energy-saving measures. Here are some tips.

Clarify opportunities for tax deductions

The costs for home maintenance/repairs can be deducted from your income tax as long as they do not increase the property's value. Because regulations in this regard are set by the cantons, it is worthwhile to have a personal discussion with the local tax authorities and perhaps also with a tax consultant.

For energy-saving measures there are additional tax deductions in various cantons. Here, too, the local tax office can give you advice.

Subsidies and better mortgage rates

Many cantons and communities provide subsidies for energy-saving building renovations. You can learn more about these from the cantonal energy department. Subsidies for the roof, exterior walls or windows are paid through the building programme (see «useful links»). Subsides must be applied for BEFORE starting work on renovations. An approval for the subsidy is not the same as a building permit, and for many projects a planning application must be submitted to the community.

Many banks offer more favourable mortgage rates for buildings and renovations that meet the Minergie standard.