OBTAINING FINANCIAL ASSISTANCE
There are man financial means available to you, both private and governmental, to help you finance your renovations. There exists many ways to finance your renovation work. For small projects, paying cash is the preferred method. However, you diminish your liquid assets and weaken your financial capabilities thus reducing your room to maneuver in case of unexpected costs. A wise use of credit cards would permit you a delay of 21 days, without interest, to settle your account.
For projects on a larger scale, there are other more flexible means to finance your home renovation project such as credit margins and personal loans designed for this purpose at various financial institutions. This gives you the advantage of competitive interest rates while having predictable reimbursement payments without additional fees. Depending on your situation, for an even more advantageous rate, another solution would be to renegotiate your home mortgage (increased payments) in order to obtain the necessary funds to realize your renovation project.
You might also be eligible for a reimbursement of the GST and TVQ taxes for admissible home renovations as outlined for such projects by specific government programs. Brochures are available to this effect in order to inform you on the details of such programs, including admissibility requirements and criteria, procedures for presenting requests for reimbursements, time requirements, and the appropriate forms to complete. You can visit the appropriate government web sites to consult the various renovation subsidy programs that are offered and are in force. Examples of such web sites and the pertinent brochures available in PDF form are:
www.revenu.gouv.qc.ca www.cmhc.ca www.hydroquebec.com (energuide)
Finally, always consider using existing materials in your home for your future renovation projects.
List of recognized eco-friendly renovation work
Work relating to the envelope of a dwelling:
Insulation of the roof, exterior walls, foundations and exposed floors
Sealing
- Water-proof sealing of the foundations.
- Air sealing of the envelope of the dwelling or of a portion of it (walls, doors, windows, skylights, etc.).
Installation of doors or windows
- Replacement or addition of doors, windows and skylights with ENERGY STAR qualified models for the climate zone where the dwelling is located.
A4 Installation of a green or white roof
- Installation of a living roof.
- Replacement of a flat roof or a roof with a slope of under 2 in the vertical rise for every 12 units horizontally (2:12) or at 16.7% by a reflecting roof.
Heating system
Air conditioning system
Water heating system
Ventilation system
Water conservation and quality (unless the eligible dwelling is a cottage
Soil quality
- Decontamination of fuel oil-contaminated soil, in accordance with the requirements of the Soil Protection and Contaminated Sites Rehabilitation Policy.
Other renewable energy devices
- Installatifon o photovoltaic solar panels that comply with the CAN/CSA-C61215-08 standard.
- Installation of a domestic wind turbine that complies with the CAN/CSA-C61400-2-08 standard.
FOR MORE DETAILS ABOUT SPECIFICATIONS YOU SHOULD RESPECT VISIT THE WEBSITE OF THE PROVINCIAL GOVERNMENT http://www.revenuquebec.ca
