Whether you’ve been in your home for a few years or decades, at some point you’ll likely have some upgrades you’d like to make. Renovating is a great way to add value to your home while improving and enhancing the space you live in. This spring, there are lots of incentives to get you started.
If you’re thinking about tearing down walls, updating a room, or putting on an addition, consider taking a green approach to your renovation.
What does it mean to go green?
Green renovations focus on managing and reducing your environmental footprint, while adding value to your home. So, whether you’re laying down a new floor, replacing windows, or swapping out your furnace for a high-efficiency heat pump, every detail offers an opportunity to look for energy savings and eco-friendly measures. Consider the following green alternatives:
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Sustainable materials, such as cork and bamboo flooring.
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Refurbished materials, such as antique tiles and reclaimed wood.
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Energy-efficient improvements, such as replacing old windows, doors, and appliances.
Save money with government incentives
Make the most of your renovation budget by applying for energy rebates and the Canada Greener Homes Grant program, which offers savings when you opt for energy-efficient retrofits such as new windows and doors, insulation, or heat pumps. Check out the full list of retrofits that qualify.
Borrow for your renovation
Once you’ve landed on a plan and set a budget, consider using the equity in your home to finance your renovation. You can get access to a percentage of your home’s value at rates that are typically lower than those on unsecured types of credit with a home equity line of credit from Meridian. Use as much of your available credit as you want and pay it off at your own pace.
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