By 99959
Real Estate News

”Thought about making some energy-saving upgrades to your home? Now, the Canadian government can give you thousands of dollars to kickstart your green initiatives.

”Almost 20% of Canada’s greenhouse gas emissions come from buildings and homes. To combat climate change, the federal government has launched the Canada Greener Homes Grant.

What is the Canada Greener Homes Grant?
The Canada Greener Homes Grant helps Canadians make their homes more energy efficient by supplementing the cost of energy-efficient retrofits and home energy evaluations. The newly launched program will be worth $2.6 billion over the next seven years and help approximately 700,000 homeowners lower their energy bills and keep their houses warmer during the winter.

How much can you get from the Canada Greener Homes Grant?
You can get up to $5,000 for energy-efficient retrofits and up to $600 for pre-and post-retrofit EnerGuide evaluations to help you plan and assess your home upgrades. That comes to a grand total of up to $5,600. Keep in mind the maximum amount isn’t guaranteed as your grant will depend on the type of upgrades made and the evaluation conducted when the work is completed.

You also won’t get the money upfront. The federal government will reimburse you after you’ve paid for the materials, hired contractors, and gotten the upgrades certified during the post-retrofit evaluation. If you can’t pay out of pocket, a home renovation loan can help you cover the costs until you get your grant. To ensure the Canada Greener Homes Grant is accessible to more homeowners, the government will offer an interest-free loan of up to $40,000 to help Canadians finish deep home retrofits.

Who is eligible for the Canada Greener Homes Grant?
To qualify, you must be a homeowner and:

provide proof of ownership with your property tax bill number
demonstrate the property is your primary residence by showing your utility bill or government-issued ID
Eligible properties include:

Single and semi-detached houses
Row housing
All-season cottages
Mobile homes on a permanent foundation
Permanently-moored floating homes
Residential portions of mixed-used buildings
Small multi-unit residential buildings that are three storeys or less and with a footprint of 600m2 or less
New homes do not qualify and only one homeowner per home can apply for the grant. Indigenous band councils, land claims organizations, and housing management bodies can also apply for the grant and may be allowed to register multiple homes, including houses that aren’t the owner’s primary residence.

What upgrades are covered under the Canada Greener Homes Grant?
Eligible upgrades include:

Insulation (up to $5,000): Keep more heat in your house by increasing the insulation in your ceiling, basement, crawlspaces, exterior walls, or exposed floors.
Air-sealing (up to $1,000): Reduce the amount of air leaving your house by improving air-tightness.
Windows and doors (up to $5,000): Replace windows and doors with ENERGY STAR certified models.
Thermostats (up to $50): Lower your energy bill by upgrading to a smart thermostat.
Heating (up to $5,000): Install energy-efficient heating equipment such as heat pumps.
Renewable energy (up to $5,000): Add solar panels to your roof to turn sunlight into electricity.
Resiliency measures (up to $2,625): Protect your home from environmental dangers like fires, floods, and loss of power by installing foundation waterproofing, roofing membranes, and batteries connected to solar cell systems.
Upgrades recommended during your pre-retrofit EnerGuide evaluation are the only ones eligible for the grant. All mechanical and electrical systems except thermostats have to be installed by a licenced and trained professional. Materials and equipment must also be purchased in Canada or from a Canadian online distributor. Make sure to keep all receipts and invoices until March 31, 2028.

I’m eligible for the Canada Greener Homes Grant. Do I need to act fast?
There has been a lot of interest in the Canada Greener Homes Grant. Over 30,000 applications have been received so far, but that doesn’t mean you need to jump on the bandwagon this second. The high demand means long wait times for energy advisers and contractors. Since upgrades will take longer to start, it’s best to wait and take this time to carefully plan your retrofits, figure out your budget, and look into the types of contractors you want to hire. The grant will be available for the next seven years, so there’s no rush to get upgrades done right now.

How do I apply for the Canada Greener Homes Grant?
When you’re ready to get started, register online on the Canada Greener Homes portal and then book your pre-retrofit EnerGuide evaluation. Remember, the evaluation is mandatory before you begin your retrofits and must be performed by an NRCan registered energy advisor.

If you live in Nova Scotia or Quebec, you’ll have to book your EnerGuide evaluation through your provincial program. If you reside in New Brunswick, it’s recommended you apply through the provincial Total Home Energy Savings Program.

SOURCE: To read the full article published on the Spring Financial website click the link HERE

Other articles that may interest you
How to calculate the welcome tax
Actualités immobilièresReal Estate News
How to calculate the welcome tax
2023, november 28

”Buying a single-family or semi-detached home, plex or condo? Property transfer duties—often referred to as the welcome tax—are one of the inevitable costs you will need to pay. Read on to discover how to calculate the welcome tax, when it’s due, and how to pay it in a few simple steps.” ”What is the welcome

First-Time Homebuyers: What About a Semi-Detached House?
Actualités immobilièresReal Estate News
First-Time Homebuyers: What About a Semi-Detached House?
2023, november 28

”A semi-detached house can be the perfect solution for a first-time homebuyer in search of a cozy nest. Read on to discover its main advantages and help guide your efforts in finding a property suited to your needs.” What is a semi-detached house? Unlike a single-family home, a semi-detached house shares a common wall with

Moving After Retirement: 5 Questions You Should Ask Before Selling
Actualités immobilièresReal Estate News
Moving After Retirement: 5 Questions You Should Ask Before Selling
2023, november 28

”Retirement is a major life-changing event. So, it’s quite normal to have a lot of questions about income, lifestyle, health issues, etc. One of the more important questions is: “Should I stay as long as possible in my current home or move to a smaller place?” In this article, we explore five factors to take

Leave a comment