Renovations and opportunity to get home rebates in Vancouver
Did you know that it’s possible to get money back when you invest in home renovations? It’s true; homeowners can tap into exciting rebate programs to help finance many types of residential upgrades. Read on for more information on available home rebates in Vancouver, B.C.
Environmental rebates
The City of Vancouver awards a variety of home renovation rebates to help save our earth. The money comes from a partnership with EfficiencyBC and is available to assist homeowners to make environmentally friendly home improvements.
Significant rebates attach for things such as (1) water heater heat pump, (2) insulation, (3) draft proofing, and (4) an energy audit. You can even qualify for an additional $750 for completing three home energy improvement projects.
Phone 1-844-881-9790 to speak with an “Ask an Energy Coach” about the energy rebate program.
Vintage home repairs
Vancouver is home to a wide variety of pre-1940 houses, and it’s possible to get home rebates in Vancouver to improve your home’s energy efficiency through the Vancouver Heritage Foundation. Eligibility requirements include
- House is either pre-1940 construction or on the Vancouver Heritage Register
- House must rely on oil and gas heating
- No retroactive coverage
- Not covered by rebates from utility companies
The goal is to enhance energy efficiency in older homes throughout Vancouver. If you meet the eligibility requirements you can take advantage of rebate money to install things like (1) new storm windows, (2) electric air source heat pump, (3) high-efficiency toilets and showerheads.
Help for seniors and people with disabilities
The Province of British Columbia offers the Home Renovation Tax Credit for Seniors and Persons with Disability. Unlike the rebate programs that focus on improving energy efficiency, this tax credit aims to improve accessibility in the home. You may qualify for tax relief if
- You’re at least 65 years of age
- Eligible to claim disability on your taxes
- A resident of British Columbia
Examples of renovations that fit the criteria for a tax credit include
- New flooring
- Accessible bathroom features
- Movable counters and shelves
- Handrails
- First-floor suite
- Secondary suite
- Wheelchair accessibility
- Lever door knobs
It’s essential to understand that you can’t use a tax credit as a way to increase the market value of the home. Instead, this credit makes it possible to remain in a place that you love.
Last thoughts
Lastly, home renovations are expensive, and it’s a great idea to look for ways to make the process more affordable. Fortunately, there are opportunities for home rebates in Vancouver that make improving the energy efficiency and quality of life in your home possible. Additionally, seniors and people with disabilities can also obtain tax credits to lessen the financial costs of a home renovation.
Silvercrest Custom Homes and Renovations knows about available rebate programs in Vancouver, and we can’t wait to help develop a home renovation plan that fits your budget. Contact us to begin your improvement project today.