Upgrade Your Home: Unlock Savings with Rebates & Incentive

As an experienced realtor, I have seen many homeowners in Toronto upgrading, renovating, and updating their homes over the years. These projects not only increase the value of the property, but also make the home more comfortable and in many cases energy efficient. 

The good news is that there are several rebates and incentives available for homeowners who want to make these improvements to their homes. Keep reading to learn about some rebates and incentives that are available to homeowners in Canada, the benefits of these programs, and why now is a good time to take advantage of these offers.

 

The Canada Greener Homes program is a federal initiative that provides grants to Canadian homeowners to help them improve the energy efficiency of their homes. Eligible homeowners can receive grants to make energy-efficient retrofits to their homes, such as upgrading insulation, windows, and doors, and installing energy-efficient heating and cooling systems. This program is designed to help homeowners reduce their energy bills and improve the overall energy efficiency of their homes.

CMHC Eco Plus

Another program that homeowners should consider is the CMHC Eco Plus program. This program offers a partial premium refund to homeowners who purchase climate-friendly housing. The program is designed to help make energy-efficient and low-carbon housing choices more affordable. If you purchase an energy-efficient home, you may be eligible to receive 25% of your insurance premium back.

 

HST Rebates

Homeowners who have completed a major renovation on their home, built a new home, or built a major addition that doubles the size of their home, may be eligible for an HST Rebate of up to $16,080. This rebate is only available for substantial renovations or newly built homes, not kitchen upgrades. The home must be the homeowner's principal residence, and the HST Rebate is only available to homeowners who live in Canada.

 

Basement Flooding Protection Subsidy Program

Another program that homeowners should consider is the Basement Flooding Protection Subsidy Program. This program provides a subsidy of up to $3,400 per property to owners of single-family, duplex, or triplex residential homes to install flood protection devices. Eligible work includes the installation of a backwater valve, a sump pump, and severance and capping of a home's storm sewer or external weeping tile connection.

 

The benefits of these programs are numerous. Not only do they help homeowners reduce their energy bills, but they also make their homes more comfortable and energy-efficient. These programs also help homeowners to increase the value of their properties, making their homes more attractive to potential buyers.

 

Why Now?

Now is a good time to take advantage of these offers because the real estate market in Toronto is expected to remain strong in the coming years. This means that if you make upgrades to your home, you are likely to see a return on your investment when you sell your home in the future.

 

Final Thoughts