Take advantage of subsidies and save!

Would you like to renovate the interior of your home or redecorate a room? Before calling a container service to dispose of the old central heating unit or before replacing permanently fogged-up windows, it is a good idea to inquire about government grants and programs.

These programs are not mutually exclusive and can be combined if you meet the eligibility criteria. Here’s an overview.

RénoRégion

This program provides financial assistance to low and moderate-income homeowners living in rural areas. The grant may cover up to 95% of the cost of the eligible work, but not exceeding $ 12,000. Many small municipalities in Québec are included in this program. Contact yours to find out if you are eligible.

RénoVert

You could benefit from a grant for eco-friendly renovations. Think about the possibility of installing a green or white roof, replacing your water heater or heating system, or installing solar panels or a home wind turbine. If this work is done by a qualified contractor and the agreement is concluded before March 31, 2019, you may be able to claim a tax credit representing as much as 20% of the eligible expenses that exceed $ 2,500, up to $ 10,000. To be eligible, you must comply with all the requirements and complete the RénoVert Credit form on your tax return.

Don’t forget that the financial assistance granted through the RénoVert program can be combined with the Rénoclimat program, introduced in 2007 to help homeowners reduce their energy consumption with better insulation techniques or sealing work, etc.

Éconologis

Éconologis is an energy efficiency program for low-income families that offers free personalized advice and the installation of electronic thermostats. Knowing that these devices can save you tens of dollars a year, it’s worth it!

Chauffez vert

This financial assistance program helps homeowners replace fossil fuel heating systems (such as heating oil) with systems powered by a renewable energy source.

Cumulate tax credits et subsidies

You may be able to benefit from every financial assistance program and tax credit available because they are not mutually exclusive. You must, however, meet the eligibility criteria for each one.

For example, you could have access to a subsidy for improving energy efficiency with Rénoclimat while also benefiting from a tax credit under the RénoVert program, which applies to 20% of the renovation costs above $ 2,500. Doing your research could lead to substantial savings!

Other tips

  • If a member of your family is a construction worker, they could get discounts and special promotions at hardware stores. Ask them if they would go shopping with you to buy what you need.
  • Also ask about the materials you intend to use and read user reviews on the Internet. Sometimes it is better to buy better quality materials that will last longer.
  • If you end up with a surplus, websites like Kijiji can help you sell your extra materials on-line.
  • Find out how you can plan and become your own foreman.

Finally, don’t forget that your Multi-Prêts mortgage broker can help you finance your mortgage as well as your renovation work.

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