Have you found a home that almost ticks all the boxes, but it just needs a little TLC to make it perfect? The Purchase Plus Improvement program in Canada might be the solution you’ve been searching for! This program allows homebuyers to include renovation costs in their mortgage, so you can buy that “almost perfect” home and turn it into your dream space.

How Does the Purchase Plus Improvement Program Work?

It’s simple! This program lets you add the estimated renovation costs (up to a specific percentage of the home's value) to your mortgage, meaning you won’t need to pay for the upgrades out of pocket. Whether it’s a kitchen overhaul, a new bathroom, or replacing old windows, the improvements can be rolled right into your home financing. The best part? You only need a small portion of the total cost as a down payment.

Here’s how it works in four easy steps:

1. Find the Right Home: Choose a home that fits your needs but could use some upgrades.
2. Get Quotes for Renovations: Obtain estimates for the renovations you'd like to make and submit them with your mortgage application.
3. Get the Work Done: After your mortgage is approved and you take possession of the home, you can begin the renovations.
4. Unlock the Funds: Once the renovations are complete, the mortgage lender will release the funds to cover the improvement costs.

Why Use Purchase Plus Improvement?

The beauty of this program is that you can transform a fixer-upper into your perfect home without the hassle of securing separate financing for renovations. Plus, spreading the cost over your mortgage often results in a lower interest rate than if you were to take out a personal loan or line of credit for the work.

Imagine walking into your newly purchased home, knowing that the outdated bathroom will soon have that spa-like feel you've always dreamed of!

What Can You Renovate?

Common improvements include:

• Upgrading kitchens and bathrooms
• Replacing flooring
• Improving energy efficiency with new windows or insulation
• Finishing basements
• Landscaping or exterior repairs

Ready to Create Your Dream Home?

Why settle for a home that’s just "okay" when you can make it amazing? The Purchase Plus Improvement program gives you the flexibility to turn any house into your dream home. Contact me today to find out how you can take advantage of this program and start building the perfect space for you and your family!

If you need more information or want to get started, reach out now! Let’s make your dream home a reality.

Stay Connected

Subscribe to our Newsletter and you'll stay up to date on rates that help you save thousands in interest.

First Name:

​

Last Name:

​

Email:

​

I consent to receiving communications from Mortgage Alliance, affiliated companies and authorized agents. (You can withdraw your consent at any time by unsubscribing.)

Submit