Monday, March 14, 2016

St. Patrick’s Day Is Coming And So Are The Green Rebates

My job as a mortgage broker is to help people find the best mortgage for their situation and to save them money on a mortgage. Here’s one way I help people save money.
As the stores start to decorate with green hats, rainbows, and other items associated with St. Patrick’s Day, homeowners and future homebuyers should be thinking about Green Rebates.
Green Rebates are financial incentives set up by the province or federal government to encourage you to save energy or water. Depending on where you live, there can be significant savings for you, if you are willing to spend money on energy efficiency or water conservation.
In fact, if you live in the Town of Banff, Alberta, you would get a free energy efficient toilet.
I know more about Alberta so I will concentrate on this province. Green Rebates vary from province to province, with BC and Quebec offering the most rebates to individuals, revenue property owners, and companies.


Town of Banff
Banff residents can get a $100 post purchase rebate for buying an ENERGY STAR® front loading clothes washer or dishwasher.
Another $100 rebate is available for dual flush or high-efficiency (4.8L or less) toilets. I have seen dual flush toilets at Costco for $84 plus tax. In effect, you could end up with a free toilet.
Also, Banff offers a rain barrel rebate of $25.

City of Lethbridge
Purchase a Sunridge Development high-efficiency home and get a $2,500 rebate for Silver labeled homes and a $3,500 for Gold labeled homes.
City of Calgary
Purchase a dual flush WaterSense toilet and get a $50 rebate.
British Columbia
If you are building a multi-unit residential building, BC will provide free access to an Energy Advisor who will give you advice on building an energy efficient structure.
Replace your residential water tank with a tankless water heater and Quebec will give you a $250 rebate.
Canada-Wide Energy Rebates
Now I will tell you about a little known program available to those who purchased their homes with less than 20% and insured with CMHC, Genworth, or Canada Guaranty.  If your home is designated “Energy Efficient” by a CMHC approved builder, you can get 10% of your CMHC premium back. As most people are paying about $13,000 in fees today, $1,300 is a significant refund.
Here is the part that most people do not know. If you decide to make your home more energy efficient by replacing the furnace, windows, roof, or install more insulation, you still qualify for this rebate even if you do this 2, 4 or 8 years after you purchase your home. Get more information on this program and how to qualify by following this link:
This program is also available through Genworth and Canada Guaranty.
For more information and links to your provincial programs check out this link: