Get matched with top earthquake retrofitting specialists in Homedale, ID

Many homeowners want to know whether earthquake retrofitting is tax deductible. Because it’s often considered a capital improvement, you usually can’t deduct it. In some cases and locations, you may qualify for tax incentives, but you’ll need to talk to a tax professional or the Internal Revenue Service (IRS) about your specific circumstances. You may also be able to find grant money for seismic upgrades, which can lower the cost of your insurance premiums and save money over time.

Almost all new buildings in California need an earthquake shut-off valve. The requirements for an earthquake gas shut-off valve (and who can install it) depend on where you live. For example, according to the Los Angeles Municipal Code, you’re required to hire a licensed contractor to install one whenever you build, sell, or renovate a home. Check with your local building department for your city’s laws on installing, permitting, and inspecting earthquake shut-off valves.

Earthquake retrofitting can increase your home value, making it a great return on investment. This feature is especially valuable in areas prone to earthquakes. Besides the increased safety value (not only for your family but for the next family who moves in), earthquake retrofitting also helps lower homeowners insurance rates. In addition, having your home earthquake retrofitted can make it easier to get a home loan since they are considered lower risk.

Costs vary as much as timelines. The average earthquake retrofit costs between $3,500 and $8,700. However, homes on hillsides, large homes, and those with rooms over garages can cost up to $12,000 or more. Make sure to get a few estimates to compare the cost and services.