Eco House Renovations
The Canadian government is bringing back its energy-saving grant program, and this is expected to be good for house renovations. However, some experts warn that it will inevitably lead to a slump in the market. That's because local renovation companies in Ottawa suffered after a similar program was ended last year.
That program offered up to $5,000 to homeowners who made energy-efficient upgrades to their homes. It's estimated that 5% of all Canadian homeowners took advantage of the grant program during its first iteration, but this tends to pull forward demand. When the incentive program ends, demand tends to fall off severely. This time, the grants will be available until March 31, 2012, and home renovation contractors are looking forward to the temporary boost, at least. But the Canadian Home Builders' Association advocates improvements to the program which would make it more sustainable.