Is a building inspection tax deductible?

Considering a building inspection for your prospective home purchase? Understanding the tax-deductibility of these costs can significantly alleviate your financial burden, especially when it's tied to your mortgage or required by lenders. Dive in to learn when building inspection costs qualify for tax deductions and how they can benefit your home-buying journey.

Are you planning to have a building inspection performed? It's important to know whether the costs are tax-deductible, as this can save you a lot of money. However, there are a few things to keep in mind.

Why a building inspection?

Buying a house is a costly affair. It's therefore reassuring to know that a building inspection is tax-deductible . This inspection is crucial when buying a house. A building inspection report sheds light on the condition of the house. It also lists any maintenance costs or hidden defects. The rule of thumb for the deductibility of a building inspection is that the report must relate to a mortgage intended for the purchase, improvement, or maintenance of a home.

In case of a mandatory building inspection

Sometimes an appraisal report alone isn't enough. Some mortgage lenders also require a building inspection. This is especially true for older homes. The costs of a mandatory building inspection are tax-deductible. You can definitely expect a mandatory inspection in the following cases:

The expected necessary renovation costs amount to at least 10% of the sales value
The purchase concerns an apartment built in 1940 or earlier, which has not been completely renovated since then.
The valuation report recommends a structural survey

If your home meets one or more of these conditions, you can deduct the building inspection from your taxes.

Building inspection and National Mortgage Guarantee

Is a building inspection tax-deductible under the National Mortgage Guarantee (NHG) scheme? Here too, it's important to determine whether the building inspection is necessary for tax purposes. For example, is the inspection report a requirement for obtaining a mortgage or National Mortgage Guarantee (NGH)? The NHG often requires buyers to provide a building inspection report. The costs of the inspection are then deductible. This also applies if you want to finance repair and renovation costs under the NHG scheme.

Want to have a building inspection carried out?

Do you have questions about a building inspection ? Please contact us. The professional team at Homekeur is always ready to help.

Would you like to make an appointment for a building inspection?

The cost of a building inspection (up to 250 m²) is only €489 including VAT. We'll conduct a comprehensive building inspection and you'll receive a building report. Do you have any questions? We're happy to help and can schedule an appointment with an expert inspector right away if you wish!

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