Rebuild? Renovate? Redecorate?

Tuesday Mar 07th, 2017


Solutions for financing your Dream Home!

How people do it.

We all understand the importance of maintaining our property, ensuring it ages well, and that key features like Kitchens, Bathrooms and Flooring keep up with the times. Even well constructed luxury homes that are 10-12 years old are often outdated and in need of significant renovation.  

How do you keep up? 

How do other people do it?

The good news is, if you have built up equity in your home your mortgage may be a cost-effective way to provide you the funds to renovate, upgrade, or re-build. There are also government grants and rebates available for energy saving type renovations.

Here are some Options:

A partial refinance blend-and-extend, is one way to take out equity without impacting your existing mortgage. You can increase the amount of your mortgage and renew it at the same time, avoiding penalties.

A full refinance allows you to access up to 80% of your homes appraised value less any outstanding mortgages.

A Home Equity Line of Credit(HELOC) allows you to access your equity on an as-needed basis instead of accessing the equity all at once, and you only pay interest on the amount that is owed.

Grants and Rebates for Energy-Saving Renovations are available from the Federal and Provincial governments and local utility companies.

  • CMHC Mortgage Loan Insurance offers 10% CMHC mortgage loan insurance premium refund for energy-efficient homes.
  • ecoENERGY Retrofit home grants up to $5,000 are available to help offset the cost of making energy efficiency improvements.
  • Enbridge Gas, HydroOne, Ontario Power Authority and Toronto Hydro all offer rebates and incentives for buying energy-efficient Energy Star products.


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