Your Guide to Home Renovation Grants | LIDA Construction

Your Guide to Home Renovation Grants & Unlocking Your Home’s Potential

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Navigating the Landscape of Home Renovation Grants and Rebates 

At LIDA Construction, we understand that receiving a home renovation grant can make the difference in the ability to move your project forward, as every dollar and cent counts when it comes to home improvements. After researching far and wide, we’re excited to provide you with an in-depth list of the many home renovation grants and rebate programs available to homeowners in 2024. 

Within this list, we’ve highlighted the most valuable and effective grants for home renovations, notably the grants and rebates that will ultimately save you the most money as you look for ways to help fund your renovation plans.

In a world of long lists and information overload, we aim to keep it simple, saving you time and money by unveiling the home renovation grants you need all in one place. We aim to inform you about the most popular and cost-saving rebate programs by focusing on energy rebates, tax incentives and secondary suite grants. The search for financial help for home repairs can feel endless and overwhelming, we’re here to help!

Read on to discover which government grants for renovations will best meet your home’s needs.

Rebates for Energy Efficiency Upgrades

When thinking about updates and improvements to your home, your first step is to consider your primary renovation goals carefully. Sticking to a solid plan will help you stay on schedule and on budget.

Need some help planning your project? LIDA Construction is proud to offer complete full-service renovation services that include working closely with our clients from the initial planning to the final walkthrough.

While several rebates and grants incentivize energy efficiency, the most comprehensive assistance in British Columbia is the CleanBC Better Homes initiative. Fortis BC, BC Hydro and the provincial government have teamed up to facilitate this campaign. The program aims to reduce energy use in your home and lower utility bills while reducing greenhouse gas emissions at the same time.

The following five steps walk you through the CleanBC Better Homes’ comprehensive program:

1. Choose which of the following home efficiency upgrades you would like to make:

  • Space heating systems
  • Insulation
  • Windows
  • Doors
  • Water heating systems
  • Ventilation
  • Health and Safety
  • Electrical

2. Determine which rebate program/s you qualify for

CleanBC Better Homes and Home Renovation Rebate Program

This rebate program is offered through BC Hydro, Fortis BC and the Province of BC. To qualify for a rebate of up to $6000, you must live in an eligible home, have municipal utilities or have residential accounts with BC Hydro or Fortis BC.

Note: Applications are accepted once work is complete and paid for.

CleanBC Income Qualified Program

Up to $33,900 is available to BC citizens who meet income qualifications, live in an eligible home and have accounts with BC Hydro, Fortis BC, or a municipal utility. 

Note: Pre-registration is required.

CleanBC Low-Interest Financing Program 

Suppose you have a residential account with Fortis BC, BC Hydro or a municipal utility and want to upgrade an oil, propane or natural gas heating system. In that case, you may qualify for a low-interest loan of up to $40,000 on a qualifying heat pump.

Note: Loan must be pre-approved before renovations begin.

Canada Greener Homes Grant Program

This federal initiative offers owners with eligible homes up to $5000 on qualifying products and up to $600 towards an EnerGuide evaluation. Check if you’re eligible here.

3. Determine which rebate you qualify for

The rebate search tool will show you which rebates are in your area, the requirements and if further bonus upgrades or top-ups might be available. 

4. Discuss the rebate with LIDA Construction

CleanBC Better Homes requires renovations to be completed by a licensed contractor with a valid BC business license. At LIDA Construction, open communication is integral to our award-winning customer service.

5. Apply for your rebate

It’s finally time to gather your invoices and required documentation and complete your application. Are you completing three or more eligible upgrades? Then, you may qualify for an additional bonus rebate. 

Tip: Check if there is a municipal top-up available in your community.

Still not sure if this is right for you? Contact one of CleanBC’s energy coaches.

Secondary Suite Incentive Program

Starting April 17, 2024, BC Housing will provide up to $40,000 for building an affordable rental suite in your home or on your property. This rebate will be offered as a forgivable loan, meaning that if the terms of the program are met, the loan will not require repayment.

To qualify for this incentive, you must own and live in the home, be a Canadian citizen or permanent resident, and registered homeowners must have a combined gross annual income of less than $209,420. The home must be located within an approved region and have a BC Assessment value below the grant threshold, $15 million at the time of writing.

In addition to the requirements above, the secondary suite must be a new (permitted on or after April 1, 2023), legal, self-contained unit with a full bathroom and a kitchen.

Tax Incentives

Suppose you are over sixty-five or disabled, or you are a family member living with a senior or disabled person, in that case, you might qualify for the home renovation tax credit for seniors and persons with disabilities.

This program is designed to complete permanent renovations to the home or land that improve mobility, access or functionality. 10% of the qualifying renovation expense up to $1000 is available per tax year.

Documentation to support the work completed is required to claim your credit on your T1 income tax return. For more information on how to claim your credit and to see which renovations qualify, please visit Disability Tax Credit.

LIDA Construction – Excelling in Home Renovations

At LIDA Construction, it’s our job to understand all the details regarding home renovation grants. In doing so, we can help turn any home renovation dream into a reality as cost-effectively as possible. 

Whether you want to add a brand new secondary suite or lower your countertops to improve access, our experts will guide you through the process. For examples of LIDA Construction’s builds, view our work.

Serving  Victoria up to  Nanaimo, BC, LIDA Construction has been winning awards for renovations for over twenty-five years. Contact British Columbia’s builder of the year for a complimentary consultation or more information.

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