How to Renovate an Attic with the Renovation Bonus

The attic is a very special part of the house, enjoying a privileged position. In recent years, the attic has become a much-appreciated space. To make the most of this area, it often needs to be carefully renovated, optimizing space and thermal insulation. Thanks to the Renovation Bonus and other tax incentives, this is the best time to renovate an attic.

The Rediscovery of the Attic

Until not long ago, the attic was considered an inconvenient space, often uninhabitable, used as storage or as low-cost housing. The “attic life” in the collective imagination was something bohemian. However, today things have completely changed. Attics are increasingly sought-after living spaces. Thanks to increasingly innovative renovation techniques and a careful redefinition of spaces, attics become comfortable and bright places, often offering a beautiful panoramic view and always retaining their aura of romance. This is also confirmed by the real estate market. It is estimated that the real estate value of an attic generally exceeds that of other units by 1,000 euros/sqm. Renovating an attic can therefore be a great investment, especially now, thanks to the numerous tax incentives available.

Recovering an Attic

The recovery of the attic is regulated on a regional basis. The habitability of an attic is determined by precise criteria. It is therefore essential to consult the regulations of the Region where the property is located before proceeding with any recovery and renovation work on an attic.

50% Deductions with the Renovation Bonus

With the Renovation Bonus, those who renovate the attic can request an IRPEF deduction of 50% of the cost incurred up to a maximum of 96,000 euros in total. Therefore, up to 48,000 euros (equal to 50% of 96,000) can be deducted, divided into 10 equal annual installments.
It is important to note, however, that the Renovation Bonus only applies to interventions on existing premises and cannot be extended to volumetric expansion works, such as a roof elevation. If renovation and expansion works are carried out simultaneously, expenses must be separated. The deduction will only be applied to the amount invested in renovation expenses, not for expansion expenses.

Other Tax Deductions to Take Advantage Of

By renovating an attic today it is also possible to recover the costs incurred for replacing or improving the air conditioning system. This operation allows access to the Ecobonus. The bonus can also be extended to other interventions such as replacing windows, thermal insulation of walls, and installing solar panels.
The 2022 Furniture Bonus is also a great opportunity for those who carry out a home renovation and furnish the attic. It can be used by purchasing armchairs, sofas and sofa beds, bookcases, rugs, mirrors, and lamps, deducting 50% of the expense on a maximum ceiling of 10,000 euros in total.

Renovation Bonus: which Documents to Keep

To access the Renovation Bonus, the necessary documentation must be presented at the time of the tax return, to an accountant or a tax assistance center (CAF). The documentation includes:

• The receipt of bank transfers
• The receipt of payment
• The documentation of debit on the current account
• The invoices for the purchase of goods and services, indicating the nature, quality, and quantity of the purchases.

Are you thinking of renovating an attic and want to know more? By renovating with Domidea, our tax experts will handle all the bureaucratic aspects related to bonuses and deductions. Contact us now for a free and no-obligation inspection.