When double dipping is okay
Perhaps you remember the Seinfeld episode where George
Costanza catches someone double dipping in the salsa. While this is considered
unsanitary and bad manners some forms of double dipping are okay.
Sometimes 2 levels
of government want you to do something so they offer you an incentive. The idea
is that over time people’s behavior over time changes and it becomes the norm
to do this.
Several years ago when I was having my furnace cleaned and
serviced the service man told me that the firebox had rusted and fumes could
flow through my home. He turned the furnace off and told me that I needed a new
one.
At the time, the
local natural gas company was offering discounts of furnaces for people who
switched over to their company. The local electricity provider offered lower
rates to people who bought a heat pump and the federal government had a program
to encourage people to become more energy efficient. As a result I was able to triple dip – I got a
discounted more energy efficient furnace with air conditioning and a new lower
rate for electricity.
That program is
gone now but there are others that you can benefit from. At this time Alberta
residents are being bombarded with ads and flyers from window companies. They
say that if you replace your windows now you can qualify for a $1500 rebate
through the provincial government. What they are not telling you is that you
can double dip. If you get an energy audit before the windows are replaced and
you apply to your mortgage default insurance company , whether it’s CMHC,
Genworth , or Canada Guaranty you may qualify for a 15% rebate on your premium
! On a $400,000 mortgage with 5% down
you pay $16,000 in fees. How nice would it be to get $2400 back?
The programs vary
from province to province and cover windows, hot water tanks, appliances. You
can check out what’s available here or ask your local mortgage broker for more
information. . Go ahead and double dip.Here's a link to help you find out what's available in your province.
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