A fixer-upper yes or no? With the current regulations, now may be the time to continue ... The question is often asked whether it is cheaper to buy a fixer-upper or a house that is already completely finished. This is very much dependent on the situation and the moment. Until recently, it was often cheaper to buy a house that you could move into immediately.

But things have changed completely since October 16. Italy is looking for a way out of the Corona crisis… one of the stimulating measures that has been taken is the 110% scheme. An arrangement that resembles a subsidy and that makes it very attractive to have work done on your Italian home. In short, if you have work done on your home, you can deduct up to 110% of the amount spent on tax over the next five years. In that case you must have the money available. But what if that money isn't there? Or just a small part? The Italian government has also come up with a solution: the so-called "cessione del credito" or "renouncing your credit". Because the 110% is considered a credit that you can transfer to a company that in return gives you a hefty discount on the invoice. Or to a bank, which can give you a lower mortgage in exchange, if necessary for the renovation.

Are all activities eligible for this scheme? No ... but the following categories are covered:

Bonus Sisma: This includes activities that make a house more earthquake resistant. Such as a new roof, reinforcement of outer walls and floors, foundations.

Ecobonus: this includes activities that must insulate a house optimally, such as double glazing, shutters, wall insulation, solar panels for hot water and electricity and a heating system on green electricity.

Bonus Facciate: This includes the work to refurbish the facades in the historic city centers. There are more conditions attached to this, such as the location of the house. A house in the countryside is not eligible. The deductibility here is 90%, but here too the credit can be transferred to a company in exchange for a discount on the invoice.

The purchase of a fixer-upper can suddenly turn out to be very attractive. To get an idea of ​​whether the dream house is eligible for these bonus schemes, we call in the help of the geometra and engineer.

Everything just to keep the companies working and the consequences are already visible: The real estate market is suddenly experiencing a huge revival in the refurbishers category. The joy is likely to be short-lived. The scheme applies until December 31, 2021. and.