If you're thinking about making some home improvements, the major DIY retailers are certainly making it appealing to do so this Spring. Add in the home renovation tax credit (click here for details on the credit), and the various rebates for making eco-friendly changes, and it's hard to say no!
All of the big players are advertising sales for the Victoria Day long weekend and there are some great deals to be had, especially in the outdoor departments. If you haven't seen the flyers, visit the website links below to view them online.
Lowe's website provides an easy-to-understand explanation of the tax credit, with examples of eligible and ineligible purchases.
Home Depot's website has a useful list of all of the Eco Rebates available in each province.
Rona has a promotion to encourage you to take advantage of the tax credit at their store: if you carry out a project that qualifies for the tax credit, you can get 10% of what you spend on the project back in gift cards, up to a max of $1,000 back. (see website for full details)
If you are renovating with resale in mind, be sure to have a realistic expectation of what the actual payback will be. In most cases, you won't recoup what you spend, so be sure you are renovating for the right reasons. The Appraisal Institute of Canada has developed a very useful tool called Renova to help you estimate the effect a home improvement project may have on the value or resale of your home. Click here to try Renova.
Post a Comment