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Need financial assistance for your home renovations?

09 October 2016 by National Bank
Need financial assistance for your home renovations?

Each year, more than half of Quebec’s households spend money on home renovations, maintenance and repair. This works out to a yearly average of $5,563.

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More than half of Quebec families spend thousands of dollars each year on home maintenance – a hefty sum! Fortunately, there are many financial assistance programs that can help. Green renovations with positive environmental footprints are strongly encouraged. Here are some of the options available.

Provincial financial assistance programs

  • Rénoclimat

Depending on the project, renovations to improve insulation or airtightness can qualify for assistance ranging from tens to thousands of dollars, (e.g., insulating basement foundation walls or cathedral ceilings). You can also benefit from financial assistance by changing or replacing mechanical systems for more efficient alternatives, such as a central heating system or heat recovery ventilator.

  • Heating with Green Power

Through this program, you can reduce unwanted emissions by replacing your heating system with a more energy-efficient and environmentally friendly alternative. Take advantage of hundreds of dollars in assistance, depending on the house and the chosen heating solution.

  • Rénovert

Qualify for a tax credit of up to $10,000 for eco-friendly renovations done by a qualified contractor. The credit is available only temporarily for contracts signed before April 1, 2017. Eligible projects include insulating or air sealing your property’s exterior and installing new doors, windows or a green roof. You can also invest in soil decontamination or replace the air conditioning, ventilation, heating, or water heater with an ENERGY STAR system.

  • Rénorégion

If you live in a rural area, you can benefit from a new assistance program to fix major home defects (e.g., structural, plumbing, or insulation problems). Compensation can reach up to $12,000 but only applies to residents of eligible regions.

  • Éconologis

Created for low-income families, this program provides a free building inspection and practical advice from an energy efficiency advisor. Residents can also install energy-efficient solutions – like digital thermostats – for free.

Hydro-Québec and Gaz Métro assistance programs

  • ENERGY-STAR-certified windows for rental properties

Landlords of rental properties with fewer than six floors are eligible to receive financial assistance from Hydro-Québec for each ENERGY-STAR-certified window replacement.

  • Grants for Gaz Métro customers

Gaz Métro customers may be eligible for financial grants related to the addition or replacement of water heaters, furnace systems or hot water boilers as well as the installation of a programmable digital thermostat.

Municipal programs

Municipalities also operate their own independent programs. Quebec City offers several programs for buildings in historic or protected areas, alley redevelopment or frontage renovations to commercial streets. Montreal supports major home renovations on older and derelict buildings, particular renovations in the city’s most run-down sectors and all foundation stabilization work.

Each city has its own goals and incentives – you can find out which grants are available in a few clicks of a mouse. Live in Laval? You could earn $75 just by trading in your old toilet for an eco-friendly model!

When it comes to renovations, any amount of financial assistance can make a big difference in your finances. So check out your options!

  1. Portrait régional de la rénovation au Québec 2010-2013 (Portrait of Quebec’s Renovations by Region (2010-2013)), Association des professionnels de la construction et de l’habitation du Québec, p. 10.

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