It’s no secret that accessibility modifications to your home can add up quickly. Fixr estimates the average cost for accessibility changes hovers around $9,000, so anywhere money can be saved is ideal.
Here are three ways you can save on the cost of accessibility renovations to your home.
1. Consult your tax accountant
Some accessibility renovation costs can be deducted from your income taxes, so be sure to discuss modifications with your accountant come tax season.
Taxpayers under the age of 65 can claim medical expenses that exceed 10% of income, and those over the age of 65 can claim medical expenses that exceed 7.5% of income. Just keep in mind that when claiming this as a deduction, you’ll need a doctor’s note that specifies the need for this modification or renovation.
The best way to handle this is to discuss with your tax preparer what can and cannot be deducted.
2. Renovate during winter
For many contractors, colder months are the slow season, so you may be able to score a discount on labor if you renovate during the winter.
Some big-box stores and appliance manufacturers may also offer discounts on appliances and fixtures at the end of the year and around the holidays, so if you’re renovating your kitchen or bathroom, waiting until the holidays (or big sale days, like Presidents’ Day and Memorial Day) can save you lots on the cost of your reno.
3. Apply for a grant
There are a wide number of grants that can be applied for that can offset the cost of costly accessibility renovations. Here are a few home modification grants you can explore.
- The American Red Cross offers assistance for eligible active military service members, veterans, and direct members of their families.
- The Department of Veterans Affairs offers grants and loans for veterans buying new construction homes and adapting existing homes for accessibility.
- AmeriCorp’s Rebuilding Together program offers assistance to families with accessibility needs.
- The National Directory for Home Modification and Repair Resources keeps a database of financial and labor assistance programs across the country that offer help to those who need accessibility modifications.
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