There are numerous redevelopment grants available to homeowners in the GTA. Ranging from a few hundred dollars to several thousand, programs are offered by different levels of government and partner organizations.
Homeowners in the city of Toronto have a number of programs available and one such incentive is the Basement Flooding Protection Subsidy Program. The metropolitan city offers proprietors of single-family, duplex and triplex residential homes a fiscal subsidy of up to $3,400 per property to install flood protection devices.
Another home renovation savings initiative offered by the city is the Home Energy Loan Program( HELP ), which facilitates homeowners in improving their home’s energy efficiency. Toronto Hydro HELP provides incentives of up to $650 for supplanting furnaces and air conditioners with high efficiency units.
If you’re thinking about installing a green or cool roof, you can take advantage of the city’s Eco-Roof Incentive Program. Eligible green roof projects can receive $75 per square metre and up to a maximum period of $100,000. Eligible cool roof projects get between$ 2 and$ 5 per square metre, up to a maximum period of $50,000.
To apply for any of the renovation savings programs offered by the city, visit toronto.ca and type the program’s name into the search bar.
The Ontario government also offers a number of home redevelopment motivations, including the Healthy Homes Renovation Tax Credit. If you are over 65 and are planning a renovation to stimulate your home safer and most accessible, you can claim up to $10,000 merit of eligible home improvements on your tax return. For more information, search for Healthy Homes Renovation Tax Credit at ontario.ca.
As well, the provincial government recently partnered with Enbridge to create the Home Energy Conservation( HEC) Program, which offers grants of up to $2,100. The program is open to people use natural gas, petroleum and propane boilers/ furnaces or wood stoves.
HEC can provide $ 150 dollars towards a Home Energy Audit and up to $1,950 for upgrades such as insulation, air sealing, window replacing, heating system or hot water, merely to name a few. Visit knowyourenergyscore.ca to check if you’re eligible.
Talk to your renovator if you are thinking of applying for any government redevelopment programs or motivations. Professional renovators can help you better understand the program, let you know if you are eligible and walking you through the application process.
One of the advantages of working with professional renovators is that you can benefit from their knowledge and experience. Take that into consideration when hiring your renovator and be sure to ask lots of questions.
For a listing of professional renovators in the GTA, visit renomark.ca. All renovators and trade contractors you will find be conducted in conformity with a renovation-specific code of conduct that includes things such as rendering a written agreement, offering a minimum$ 2 million in liability insurance and rendering two years’ warranty on all work.
Bryan Tuckey is president and CEO of the Building Industry and Land Development Association( BILD) and is a land-use planner who has worked for municipal, regional and provincial governments. Find him at twitter.com/ bildgta , facebook.com/ bildgta and bildblogs.ca.