Ideas To Stretch Your Renovation Budget For A Jewelry Business

Do your need to revamp your home to include a jewelry store? You may want to add a store or a shop for your jewelry business like Butterfly Jewelry right in the comfort of your home. To do this, you will need to do major renovations and a reasonable budget. In this post, we give you ideas on how to stretch your renovation budget.

Ideas to Revamp your Home to include your Jewelry Business

A warm and comfortable home doesn’t have to be priceless. However, the cost of a renovation can quickly add up especially if you need to add in a workshop for your business needs. The financial threshold often prevents potential buyers from purchasing a home with high renovation needs or from thoroughly energetically renovating the current home to meet today’s comfort needs. Yet NOW is the time to renovate. There are various financing options that are little known but offer many possibilities. Renovating has never been so easy.

Reinstatement of mortgage loan

Do you have a mortgage loan and has it been (almost) paid off? Then this is an excellent time to plan your renovations. Reuse your existing mortgage for your new renovation project and enjoy several financial benefits. This way you avoid notary and mortgage costs and your monthly budget is not burdened with an extra payment.

The interest-free renovation loan Did you buy

property in 2021? Then you can make use of the interest-free renovation loan from the Flemish government. Anyone who buys a house with poor energy performance and significantly improves its energy performance within five years can also take out an interest-free loan of up to 60,000 euros for its renovation in addition to the mortgage loan for the purchase of the property. Demolition and reconstruction are also eligible. The renovation loan is interest-free as the interest is automatically repaid once a year.

Review of the mortgage loan

In some cases, it is interesting to review your mortgage loan. For example, when interest rates fall. Borrowing at a lower interest rate results in a lower monthly payment, which frees up money that you can use for a renovation loan. You can review your mortgage loan at your own bank or at another financial institution. Due to the costs involved, a revision of the mortgage loan is only worthwhile from 1% interest profit.

The EPC label premium

Anyone who owns a house or apartment with a poor energy label can apply for an EPC label premium. This premium can rise to 5,000 euros if you significantly improve the energy label of your home within five years. You do this by providing your home with renewable energy and solid insulation, for which you can also receive a premium. To make an estimate as realistic as possible, it is best to seek advice from your architect, from the energy expert who has drawn up the EPC for your home, or from an Energy House.

Extending

the term of your mortgage When you extend the term of your mortgage, you reduce the monthly amount that you have to pay off. In this way, space is created for a renovation loan without much impact on your monthly budget. Your monthly payment charge remains the same.

The Flemish renovation

premium You can also apply for an umbrella renovation premium for the renovation of your home. This premium was created by the Flemish government to thoroughly renovate non-energy buildings. Please note, to be eligible for the premium you must meet certain conditions.

Advance on the supplementary pension for employees

When you take an advance on your supplementary pension (2nd pillar), your bank or insurance office will pay you a certain sum that you can use for the purchase and renovation of your home. This way you do not need to include your savings in high-yielding investments.

Temporary 6% VAT for demolition and reconstruction

Not every building is suitable for renovation. Sometimes demolition and rebuilding are more interesting. The reduced VAT rate of 6% for the demolition of buildings and the reconstruction of homes will be extended to the entire Belgian territory in 2021-2022. Projects by principals-natural persons as well as those by construction promoters are eligible.

Reduced sales right in the event of a Major Energetic Renovation ( IER )

When you carry out a Major Energetic Renovation ( IER ) of your home, you can invoke a reduced sales tax of 5% for your sole and owner-occupied home. Such a renovation has 2 conditions. The generator for heating or cooling must be completely replaced and at least 75% of the existing and new partition structures that enclose the protected volume and that adjoin the outside environment must be insulated.

Considerations in Publishing a Book

It´s easier than ever before when it comes to publishing a book. However, it is also harder than ever before.

Indeed, there are a lot of things to consider in publishing a book. It is not just a 1…2…3 thing. It comes with a lot of responsibility, expenses, authors and edits, and publishers that you needed to collaborate with.

However, if you are really passionate about it then you are and will always be on top of it despite every hindrance that may come your way. Just remember that it is more than just publishing copies in and selling it to bookstores, but it is your way of telling your stories to the world.

Tips in Book Publishing

Get in the known to make sure that you are on top of your game.

Publishing is a Business

A business that basically involves producing, manufacturig, distributing and selling. This is why you are also spending a lot of money while you are in the whole process.

Decide to Self Publish

If you decide to do a self publish, you eventually become a publisher. Meaning, it is not going to be a one man world, you need a village to help you publish your book. Team of good editors, designers, and formatters and a good publishing company.

Be A Business Partner

Okay, this is tricky because if you want to collaborate with a publisher you need to ready your heart that you can´t totally own the whole pages of your book. It´s going to be cheaper but consequences are there.