Selling your home? New windows will significantly increase its value
Energy efficient upgrades are increasingly sought-after among homebuyers, making them a great way to make your home stand out on the market. Growing environmental consciousness has helped push this trend, alongside the notable energy cost savings once these upgrades are complete.
If you’re planning to put your home on the market soon or just like thinking long term, energy efficient upgrades offer a great return-on-investment (ROI).
According to the Royal Bank of Canada (RBC) Home Value Estimator, window replacement is one of the top-rated home renovation projects. New windows in Victoria can offer an ROI of up to 70 per cent! In terms of return on investment, replacement windows only fall behind renovations to the kitchen (80 per cent ROI), bathroom (75 per cent ROI) and hardwood floors (75 per cent ROI) — and window replacements are much more affordable.
In addition, energy efficient window replacement costs can be significantly reduced by government rebates and grants. A quality window company like Ecoline Windows can help you access all of the available rebates.
Window rebates and grants in British Columbia
There are many rebates and grants available to British Colombians. Take advantage of these government incentives to reduce the cost of your window replacement, and other energy efficiency upgrades.
CleanBC Rebates, also known as the CleanBC Better Homes Income Qualified Program, helps low-income households complete improvements and retrofits to help make homes more comfortable and energy-efficient. Low-income families may obtain rebates between 60 to 90 per cent of the renovation costs, including up to $9,500 for windows and doors.
The good news about this program is that you don’t have to bother applying for a low-income rebate – it is the responsibility of the contractor. After the completion of renovations, your contractor submits a rebate application, and they will deduct it from the final cost of the upgrades.
2. Canada Greener Homes grant
The Canada Greener Homes grant also helps Canadian homeowners improve their home’s energy efficiency. Alongside rebates for things like insulation, air-sealing, water heating and resiliency measures, Canadians can receive up to $5,600 for windows and doors.
Homeowners must complete a pre- and post-renovation energy evaluation in order to qualify for reimbursement. All replacement windows and doors must be ENERGY STAR certified.
3. BC Energy Efficiency Rebate Program
The British Columbia Energy Efficiency Rebate Program includes a variety of qualifying upgrades:
- Replacement windows and doors — up to $2,000
- Insulation — $1,200
- Air source heat pump — up to $2,000
- Electric heat pump water heater — $1,000
- Extra rebates available when homeowners complete two or more upgrades within 18 months.
As of Oct. 1, 2019, homeowners can receive up to $2,000 on select windows and door replacements. Windows and doors with a U-Factor value of 1.40 to 1.23 (W/M2-K) qualify at $50 each, for a maximum rebate of $1,000. Windows and doors with a maximum U-Factor of 1.22 (W/M2-K) qualify at $100 each, for a maximum rebate of $2,000.
The U-Factor relates to the rate of heat loss of a window assembly including the glazing, frame and spacers. The lower the U-Factor, the better insulating properties.
To qualify for the rebate, home owners must meet three requirement standards:
- Installation contractor must have a valid B.C. business license. Ecoline Windows is a British Columbia Energy Efficiency participating contractor.
- Must replace existing windows and doors between the outdoors and heated space (skylights not included).
- Products must be listed on Natural Resource Canada’s certified fenestration products list.
To learn more or schedule a consultation with Ecoline Windows in Victoria, call 778-403-4748 or visit their showroom at 535 Yates Street, Suite 200.