Are you on the hunt for your next home in British Columbia? It looks like the red-hot seller’s market is starting to calm down in Vancouver – but most home buyers could still use a little extra cash in their bank accounts.
If you’re looking for a way to save money, you may want to consider some Vancouver home rebates and incentives. However, we understand that these can be confusing and quick to change.
That’s why we’ve rounded up some of the best available rebates and incentives. As experienced renovators in the Vancouver area, we make it our mission to stay up-to-date on all of the latest offers to new (and existing) homeowners.
Heritage Home Grants
The first option we want to discuss is the “Heritage Incentive Program.” This program provides grants of up to $4 million per building for heritage conservation.
To qualify for this incentive, the home needs to be:
- Listed on the Vancouver Heritage Register
- Legally protected by a heritage designation bylaw
- Privately owned (or owned by a non-profit organization)
- Constructed primarily of unreinforced masonry or other historic period materials
Although the deadline for the 2022 grants has already passed, you may want to keep this Heritage Incentive Program at the back of your mind while home shopping (and apply in 2023).
Many shoppers are scared away from considering heritage homes due to unfounded myths about their prices, limitations, and safety. But, in reality, there’s a ton you can do with a classic heritage home in Vancouver – and we’re happy to help you make crucial renovation decisions.
Suppose you think you might be interested in purchasing a heritage home and applying for a grant. In that case, there are also two other programs: the “Heritage Facade Rehabilitation Program” and the “Heritage Conservation Grants Program.” Both offer money to privately owned homes listed on the Vancouver Heritage Register.
Visit the Vancouver Heritage Foundation website to learn more about applying for these grants or if a home might qualify.
Bring It Home 4 Climate Program
Are you looking for a more modern, updated home? This next City of Vancouver incentive program might be more up your alley.
According to Bring It Home 4 Climate Change, nearly 60% of Vancouver’s carbon pollution comes from buildings. That’s why this program strives to:
- Reduce energy waste
- Improve home comfort
- Make crucial energy-efficient upgrades
- Switch homes from fossil fuels to renewable energy
To move more Vancouver homeowners toward a greener future, Bring It Home 4 Climate Change offers several incentives for local residents. Vancouver homeowners are invited to register with the program, schedule a free energy check-up, and find out what rebates and federal grants may apply to them.
To qualify for any Vancouver home rebates or grants, participants must be owners of homes within the Capital Regional District or City of Vancouver. Additionally, homes must be one of the following:
- Single-family detached
- Single-by-side duplex
- Side-by-side row home or townhome
- Mobile home on a permanent foundation
There are many different energy-efficient rebates you could qualify for via Bring It Home 4 Climate Change. Some of the most popular (and easy to obtain) rebates include:
1. Central Heat Pump Rebate
Space heating is typically the most considerable use of energy in Vancouver homes. However, a properly installed heat pump can be 2 to 3 times more efficient than other alternatives – and you’re likely to be rewarded for making the switch to a less wasteful heat pump.
If you’re moving from a fossil fuel space/water heater to a heat pump, you could be eligible for:
- $500 for an electric service upgrade to 100, 200, or 400-amp service.
- Up to $6,000 from select municipalities with top-up rebates.
- Up to $500 with the Heat Pump Group Purchase Rebate (GPR) if you refer friends.
Additionally, one heat pump upgrade counts toward the Two Upgrade Bonus or the Home Energy Improvement Bonus – which can help you get even more money.
2. Mini-Split Rebate
A ductless mini-split (single-head) and multi-split (multi-head) heat pump can distribute hot and cold air without ducting. Similar to the central heat pump rebate, switching to a mini-split can make you eligible for:
$500 for an electric service upgrade to 100, 200, or 400-amp service.
Up to $6,000 from select municipalities with top-up rebates.
Up to $500 with the Heat Pump Group Purchase Rebate (GPR) if you refer friends.
Again, this mini-split upgrade counts toward the Two Upgrade Bonus or the Home Energy Improvement Bonus.
3. Heat Pump Water Heater Rebate
CleanBC Better Homes are offering a $1,000 rebate for upgrading your current water heater to a qualifying electric heat pump water heater. Electric heat pump water heaters are the most efficient and eco-friendly way to heat water with electricity.
By making the switch to an electric heat pump water heater, you could be eligible for:
- $1,000 rebate for upgrading to an eligible ENERGY STAR option
- Some municipal offers up to an additional $1,000
If you’re ready to see what eco-friendly updates you can make (and get paid for) at your house, reach out to the TQ Construction team. We’re happy to talk about Bring It Home 4 Climate Change and other potential avenues you can take.
Clean BC Better Homes
Speaking of other energy-related options, let’s discuss the Better Homes CA program. Better Homes CA is a fantastic resource for homeowners trying to find rebates while renovating their homes or building a new house.
These rebates revolve around reducing home energy use and greenhouse gas emissions. Check out the available rebates if you live in Vancouver city limits and want to optimize your existing home for comfort, affordability, and energy efficiency.
Are you considering investing in new construction? CleanBC’s “Better Homes New Construction Program” provides rebates of up to $15,000 for building new, high-performance, electric homes. If this sounds like something you might be interested in, learn more about the possible rebate pathways.
Canada Greener Homes Grant
Lastly, we want to make you aware of the Canada Greener Homes Grant – another option for Canadians interested in making their homes more energy-efficient. This initiative offers grants ranging from $125 to $5,000, depending on the home upgrades.
There will be up to 700,000 grants available through this program, but it does apply to provinces throughout Canada, not just British Columbia. So if Vancouver residents want to apply for these rebates, they’ll need to do so through their BC homeowner portal.
Before applying, read all the eligibility criteria and grant requirements to ensure you qualify for reimbursement at the end of the process. Once you have registered with the portal, you’ll want to schedule your home evaluation with an NRCan registered energy advisor.
Feel free to talk to our TQ Construction team if you have any questions or concerns. We’ve helped many homeowners make energy-efficient upgrades, and we’re happy to walk you through the details.
In Conclusion
As you can see, there are many potential Vancouver home rebates and incentives for residents willing to look. Don’t underestimate what you could gain by doing a little research and making some valuable updates to your home.
If you need additional guidance, TQ Construction is here to help. We’re a top-quality custom home builder, design firm, and renovation company based in Vancouver. As true local experts, we pride ourselves on staying on top of the latest opportunities for all kinds of home buyers and builders.
To learn more about Vancouver home rebates, call 604-430-9900 or send us a message online.