Renovation subsidies available

As we all know, renovating can quickly become a costly affair. Before starting work, it’s best to check whether you’re eligible for any subsidies and find out what the requirements are to access them. To help you, we’ve put together a list of the main assistance programs offered by governments and certain service providers. These grants primarily cover renovations that improve a home’s energy efficiency, as well as the installation of high-performance equipment, such as heat pumps.

First-time home buyers’ (FTHB) GST/HST rebate (federal)

First-time home buyers can receive a GST/HST rebate on new homes or homes undergoing major renovations.

• Refund of up to $50,000 for a property valued at less than $1 million.
• Partial refund for a property valued between $1 million and $1.5 million.

Eligible property types: single-family homes, plexes, mobile homes, condos.

Please note that there is also the GST/HST new housing rebate, which is available to individuals other than first-time homebuyers.

For more information about the GST/HST rebate.

Rénoclimat (Quebec government)

This program is intended for owners of single-family homes or multi-unit buildings who wish to improve the energy efficiency of their property. Eligible work includes insulation, air-sealing, replacement of doors and windows and installation or replacement of mechanical systems (ventilation system, water heater, heat pump, heating system and geothermal system).

• Up to $20,000 for a homeowner.
• Up to $40,000 for the owner of a duplex, triplex or multi-unit residential building.

For more information about Rénoclimat.

LogisVert Program (Hydro-Québec)

The program aims to encourage residential Hydro-Québec’s residential customers to adopt eco-friendly consumption habits, including the purchase of high-efficiency equipment (heat pumps, isolation, induction cooktops, pool heaters, etc.). The amounts vary depending on the eligible equipment and the expected energy savings. Several types of homes are eligible.

• High-efficiency heat pump: Financial assistance is $100 per 1,000 BTUs of heating output at -8 °C, or $120 per 1,000 BTU/h at -8°C if the unit is classified “cold climate.” It can go up to a maximum of $6,700.
• Replacement of a geothermal heat pump: $250 per 1,000 BTU/h, up to a maximum of $18,000.
• Induction range: $250.
• Heat pump dryer: $250.
• Roof insulation and caulking: $1,500.
• Efficient pool pump: up to $300.
• Solar panel installation: $1,000 per kilowatt installed, up to 40% of the total cost of purchasing and installing the solar panels.

For more information about the LogisVert Program.

CMHC’s Eco Products

These programs can help if you buy or build an energy-efficient home.

• It provides a refund of up to 25% on the Canada Mortgage and Housing Corporation mortgage insurance premium.

For more information about the Eco Products.

Éconologis (Quebec government)

This program is for low-income households. It offers free individualized advice and minor work to improve the comfort of your home and better manage your energy use. The work may include caulking windows, installing weatherstripping at the bottom of doors, installing a low-flow showerhead, etc.

For more information about Éconologis.

Énergir

These are subsidies to improve the thermal envelope of buildings or build energy-efficient homes.

• The Efficient Renovation Program, which offers up to $100,000.
• Grant of $850 for a very high efficiency combo system.
• $100 for the purchase and installation of a smart thermostat.
• Etc.

For more information about Énergir.

Novoclimat (Quebec government)

This program promotes the construction of energy-efficient homes.

• The first owner of a new Novoclimat-approved home receives $2,000 in financial assistance.
• First-time property owners are eligible for an additional $2,000, bringing the total amount of assistance up to $4,000.
• If an eligible heat pump is installed, the owner can receive additional financial assistance.

For more information about Novoclimat.

RénoRégion (Société d’habitation du Québec)

If you live a rural area and your home requires significant work to repair major defects, this program may be right for you. It is intended for low- and modest-income families.

• This grant may cover up to 95% of the approved cost for the eligible work, up to $20,000.

For more information about RénoRégion.

Municipalities

 

Some municipalities offer additional subsidies for home and residential building renovation. Take the time to check with your local council to find out what is available.

Financial institutions

A number of banks offer discounts or a lower mortgage rate to purchase an energy-efficient home.

Take the time to plan your renovations… and your savings

It’s essential to accurately assess your needs and the work required before you begin. You can then research grants that might be available to you and their eligibility criteria. Many programs require an assessment before work begins, so it’s important to follow the applicable administrative rules.

When you’re ready to start the work, be sure to find a trusted renovation contractor. Happy renovating!

Source : Centris