Finance Your Accessible Home Renovation in Ottawa
Financial Planning for Accessible Home Modifications
Navigating the financial aspects of home safety modifications can be challenging, whether you’re a senior, a veteran, or a family adapting to the needs of a loved one. At Adaptive Living, we provide comprehensive financial planning assistance to help you secure the necessary funds for your home renovations. Our services include:
Government Grants, Tax Credits & Funding Solutions
Navigating the financial aspects of home safety modifications can be challenging, whether you’re a senior, a veteran, or a family adapting to the needs of a loved one. At Adaptive Living, we provide comprehensive financial planning assistance to help you secure the necessary funds for your home renovations. Our services include:
Government Grants and
Loans
We assist with paperwork and applications for government grants, such as the Ontario Home and Vehicle Modification Program (HVMP) through March of Dimes, which provides up to $30,000 in funding. We also identify funding for veterans, such as the Veterans Independence Program (VIP), to support your home modifications.
Specialist Services with
Accredited Banks
We collaborate with accredited banks to offer specialized financing options tailored to your needs, whether you're aging in place or retrofitting your home for a disabled family member.
Personalized Financial Consultation
Our financial planning consultations explore all available options, helping you afford the necessary renovations without undue financial strain. We’re committed to supporting families, veterans, and individuals navigating the complexities of home accessibility.
Tax Credits and Municipal/Federal Opportunities
In addition to grants and loans, there are tax credits available to help offset the costs of home modifications for seniors, veterans, and families:
- Federal Home Accessibility Tax Credit (HATC): This credit provides up to $10,000 per year for home renovations designed to improve accessibility for seniors, individuals with disabilities, or veterans.
- Ontario Healthy Homes Renovation Tax Credit: Although no longer available for new claims, many municipalities offer tax credits or rebates to support home safety modifications. Veterans and their families may also qualify for additional benefits through local programs.
We’ll guide you through applying for these tax benefits and other available opportunities, ensuring you take full advantage of the support available to make your home safer and more accessible.
Whether you’re a family caring for a disabled child, a veteran, or planning for aging in place, Adaptive Living can help you find the best financial solution for your situation.
Self-Financed Solutions & Resources
Re-financing
Many banks and mortgage brokers offer programs that allow you to add renovation costs to your mortgage, based on the newly appraised value of your home. This can be a practical solution for financing accessibility renovations for veterans or individuals with mobility challenges.
HELOC
A Home Equity Line of Credit offers a line of credit for interest-only payments, which can be used to finance your home safety retrofits or adaptive renovations.
CHIP Reverse Mortgage
Access the equity in your home with a reverse mortgage through Home Equity Bank. This option can be ideal for veterans and seniors looking to remain in their homes longer. Consulting with a representative will help determine if this option suits your financial situation.
Alternative Ideas
Speak with your financial planner about raising funds through savings, partially cashing out an insurance policy, downsizing, or receiving loan assistance from family or friends.
Re-financing
Many banks and mortgage brokers offer programs that allow you to add renovation costs to your mortgage, based on the newly appraised value of your home. This can be a practical solution for financing accessibility renovations for veterans or individuals with mobility challenges.
HELOC
A Home Equity Line of Credit offers a line of credit for interest-only payments, which can be used to finance your home safety retrofits or adaptive renovations.
CHIP Reverse Mortgage
Access the equity in your home with a reverse mortgage through Home Equity Bank. This option can be ideal for veterans and seniors looking to remain in their homes longer. Consulting with a representative will help determine if this option suits your financial situation.
Alternative Ideas
Speak with your financial planner about raising funds through savings, partially cashing out an insurance policy, downsizing, or receiving loan assistance from family or friends.
Contact Us
Call 343-572-7290 now or fill in this form and start living confidently in a home that works for you. We guarantee a reply within 12 hours to ensure you receive prompt support.
