To wrap-up our 4-part blog series, we end off with five additional grants & rebates which can help make owning a home a little more affordable. The first fifteen grants were listed out in the previous blogs, which can be found here: Part 1, Part 2 & Part 3. Follow along to see how you can keep your wallet feeling a little fuller!

(16) Local Government Water Meter Program
Some municipalities offer a program for voluntary water metering. Basically, what this program entails is that you only have to pay for the amount of water you use. 

Additional Information: Visit your municipality's website and type in "Water Meter" to find out whether any program has been implemented.

(17) Local Government Water Conservation Incentives
Some municipalities provide rebates or incentives to residents to help save water. The City of Coquitlam offers a $100 rebate and the City of North Vancouver, District of North Vancouver and District of West Vancouver offer a $50 rebate when residents install a low-flush toilet.

Additional Information: City of Coquitlam Rebate, City of North Vancouver Rebate & District of West Vancouver Rebate

(18) Local Government Water Conservation Kits
In addition to the rebates for installation of a low-flush porcelain throne, some municipalities offer residents indoor and outdoor water conservation kits. For example, the City of Burnaby offers specially priced kits at $10.00/each which can help residents save thousands of litres of water annually. 

Additional Information: City of Burnaby Water Conservation Kit

(19) FortisBC Rebate Program for Businesses
For commercial buildings, FortisBC provides a rebate of up to $45,000 for the purchase of an energy efficient boiler, up to $15,000 for the installation of a high-efficiency water heater and many other incentives. 

Additional Information: FortisBC Rebate Program for Businesses

(20) FortisBC Rebate Program for Homes
FortisBC offers an array of rebates for home owners. Examples include: (1) Rebates of up to $3,250 are available for insulation, ventilation and space and water heating upgrades. (2) Savings of up to $1,000 by replacing your aging water heater with a qualifying natural gas Energy Star model. (3) You may qualify for a $300 rebate if you purchase an EnerChoice fireplace. 

Additional Information: FortisBC Rebate Program

With all 20 grants & rebates revealed, we hope you are well on your way in applying for the grants & rebates that are best suited for your needs.

Over the next couple of blogs, we'll be providing a list of grants and rebates for property buyers and owners to make the purchasing process a little more affordable. The first ten grants were listed out in the previous blogs, which can be found here: Part 1 & Part 2. Follow along to see how you can keep your wallet feeling a little fuller!

(11) BMO Eco Smart Mortgage
This 5-year fixed closed mortgage rewards customers for making smart choices for their home and the environment. You could qualify for a great rate on BMO's Eco Smart Mortgage if you have bought, plan to buy or already own a home with energy efficient features.

Additional Information: BMO Eco Smart Mortgage

(12) BC Hydro Fridge Buy-Back Program
 Refrigerators are one of the highest energy users in your home. Save yourself the expense and recycle your old spare fridge. BC Hydro will recycle it and will give you $30 in return.

Additional Information: Fridge Buy-Back Program

(13) BC Hydro Power Smart Partner Program for Businesses
The Power Smart Partner program partners BC Hydro with B.C.'s largest commercial, government and institutional customers. Customers gain access to a wide range of energy management programs, tools and incentives. Once you sign the Power Smart Partner conservation pledge, you are entitled to some perks and incentives. Click the link below to find out the benefits received.

Additional Information: Power Smart Partner Program

(14) BC Hydro Power Smart Express (PSX) for Businesses
The PSX program partners BC Hydro with BC'cs largest commercial, government and institutional customers. This program offers incentives for various technologies, including lighting, cooking and refrigeration applicances. Since 2010, Power Smart Express has been helping B.C. businesses reduce their operating costs through the implementation of energy-efficiency projects. Whether you run a small family business or a large property management firm, Power Smart Express has incentives that can help cover up to 75% of the cost of your project. Plus, you will receive a larger incentive to offset the cost of projects that have a longer payback period.

Additional Information: PSX Program

(15) BC Hydro Appliance Rebates
If you purchased an eligible ENERGY STAR® appliance between May 1 – 31, 2014, you have 60 days from the purchase date to apply for your rebate. Follow the steps below to apply. All applications must be received within 60 days of purchase date in order to be eligible for a rebate.  

Additional Information: Appliance Rebates

Over the next couple of blogs, we'll be providing a list of grants and rebates for property buyers and owners to make the purchasing process a little more affordable. The first five grants were listed out in the previous blog, which can be found here: Grants & Rebates Part I. Follow along to see how you can keep your wallet feeling a little fuller!

(6) BC Property Tax Deferment Programs
Once you receive your property tax notice, you may be able to apply for a low interest loan to pay your current year property taxes on your principal residence given you satisfy the requirements.

There are three different property tax deferment programs available: [1] Property Tax Deferment Program for Seniors [2] Financial Hardship Property Tax Deferment Program [3] Property Tax Deferment Program for Families with Children. See if you qualify by clicking the link below.

Additional Information: Property Tax Deferment

(7) Home Adaptations for Independence (HAFI)
Sponsored by both the provincial and federal governments, this program provides eligible low-income seniors and disabled homeowners up to $20,000 to finance home modifications to make them accessible and safer.

Additional Information: HAFI Program

(8) CMHC Mortgage Loan Insurance Premium Refund
Canada Mortgage and Housing Corporation (CMHC) is Canada’s national housing agency. CMHC is Canada’s premier provider of mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research. This refund provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient home or make energy saving renovations.

Additional Information: CMHC Refund

(9) RBC Energy Saver Mortgage
Being mindful of the environment by being energy efficient has its perks! The RBC Energy Saver Mortgage is a unique financing solution that offers a $300 rebate on a home energy audit to help you make improvements to your home's energy efficiency. Go green and save some green!

Additional Information: RBC Energy Saver Mortgage

(10) Low Interest Renovation Loans
Another advantage of going green involves Vancity's Bright Ideas personal loan offer. This loan offers home owners up to $20,000 at prime + 1% for up to 10 years for 'green' renovations to make your home more energy efficient. RBC follows suit with their RBC Energy Saver loan. This loan offers home owners 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 rebate 

Additional Information: Vancity's Bright Ideas & RBC's Energy Saver Loan

Over the next couple of blogs, we'll be providing a list of grants and rebates for property buyers and owners to make the purchasing process a little more affordable. Follow along to see how you can keep your wallet feeling a little fuller!

(1) Home Buyers' Plan
Qualifying home buyers can withdraw up to $25,000 (or $50,000 for couples) from their Registered Retirement Savings Plans (RRSP) for a down payment. It allows you to buy or build a qualifying home for yourself or a related person with a disability. Home buyers who have repaid their RRSP may be eligible to use the program a second time.

 Additional Information: CRA Home Buyers' Plan

(2) GST Rebate on New Homes
New home buyers can apply for a rebate for the 5% GST if the purchase price is $350,000 or less. The rebate is equal to 36% of the GST paid to a maximum rebate of $6,300. For homes between $350,000 and $450,000, there is a proportional GST rebate available.

 Additional Information: CRA GST Rebate

(3) BC Property Transfer Tax (PTT) First Time Home Buyers' Program
For properties purchased in BC, the government has levied a tax payable called the Property Transfer Tax (PTT). The tax is 1% on the first $200,000 of the property value and 2% on the remaining balance. However, first-time home buyers may be qualified for $7,500 in tax savings on the purchase of a home up to $475,000 (Effective as of February 19,2014). 

 Additional Information: BC Property Transfer Tax Program

(4) First-Time Home Buyers' Tax Credit (HBTC)
This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. To calculate the tax credit, you will multiply the lowest personal income tax rate for the year (15% in 2012) x $5,000. The maximum credit is $750 in 2013.

 Additional Information: Home Buyers' Tax Credit

(5) BC Home Owner Grant
This grant reduces property taxes for home owners with an assessed value of up to $1.1M. You (or your spouse) can only claim the home owner grant for your principal residence each year. The grant is available to qualified residents that pay property taxes to a municipality or the province in a rural area. 

With this grant, home owners are able to receive:
- A maximum reduction of $570 in property taxes on principal residences in the Capital, Greater Vancouver and Fraser Valley regional districts;
- An additional grant of $200 to rural homeowners elsewhere in the province; &
- An additional grant of $275 to seniors aged 65+, those who are permanently disabled and war veterans of certain wars.

 Additional Information: BC Home Owner Grant