Thinking about upgrading your Braeside home but not sure how to pay for it? You are not alone. With many homes in Braeside built decades ago, energy and comfort upgrades are top of mind for local owners. In Calgary, two common ways to finance that work are the City’s Clean Energy Improvement Program (CEIP) and a Home Equity Line of Credit (HELOC). In this guide, you will learn how each option works, what it costs, and how to choose the right fit for your project and timeline. Let’s dive in.
Renovating in Braeside: your options
Braeside is an established Calgary neighbourhood with a large share of older single-family homes and some townhomes. That makes upgrades like windows, insulation, HVAC, hot water, and solar especially relevant for comfort and utility savings over time. The City’s CEIP program is designed for energy-focused projects that are common in older properties. A HELOC can fund almost any renovation, from cosmetic updates to structural work.
CEIP basics in Calgary
What CEIP funds
CEIP focuses on eligible energy efficiency and renewable energy upgrades. Typical examples include air-source or ground-source heat pumps, heat-pump water heaters, high-efficiency furnaces or boilers, attic and wall insulation, efficient windows and doors, heat or energy recovery ventilation, and solar PV. Projects must meet program rules and, in some cases, use CEIP-qualified contractors. Details are on the City of Calgary’s CEIP page.
How CEIP financing works
CEIP provides property-attached financing that you repay through a dedicated line on your property tax bill, called the Clean Energy Improvement Tax. The financing is attached to the property, not the person. Terms can run up to 20 years and are tied to the useful life of the upgrade. The City indicated a 2024 rate of 3.25% and a 2025 rate of 3.75% for qualifying pre-applications. For a limited time, Calgary has also offered an incentive that can reduce project financing by up to 10%. You must be approved before work begins. Intake periods can fill quickly, so check the CEIP portal for Calgary’s intake status.
CEIP pros and cons
- Pros
- Designed for energy upgrades with long repayment terms up to 20 years.
- Competitive program rates and a property-attached structure that can transfer to a buyer.
- Limited incentives may reduce your effective cost.
- Cons
- Only for eligible energy upgrades and you must apply before starting work.
- Appears on your tax bill and tax certificate, which buyers and lenders will see.
- Intake capacity can be limited, which may delay projects.
HELOC basics in Calgary
How a HELOC works
A HELOC is a revolving line of credit secured by your home. Once approved, you can draw funds as needed up to your limit and pay interest only on what you use. Lenders commonly allow combined loan-to-value up to about 65–80% depending on the product and your profile. Rates are usually variable, quoted as prime plus or minus a margin, and many lenders let you convert portions to a fixed term. See mechanics on TD’s Home Equity FlexLine page.
Tax treatment to know
In Canada, interest is deductible only when the borrowed money is used for an income-producing purpose. Personal renovations on your principal residence usually do not make HELOC interest tax-deductible. The Canada Revenue Agency explains the tracing and current-use rules in its guidance. Review the CRA’s folio on interest deductibility.
HELOC pros and cons
- Pros
- Broad flexibility for almost any renovation and quick access after setup.
- Interest charged only on funds you draw, with options to fix portions.
- Cons
- Variable-rate exposure that can increase payments.
- Secured against your home and typically must be paid off at sale.
- Interest on personal home upgrades is generally not tax-deductible.
CEIP vs. HELOC for Braeside homes
Eligible work and timing
- CEIP: Only eligible energy and renewable upgrades with pre-approval before work starts. Good match for older Braeside homes needing windows, insulation, HVAC or solar.
- HELOC: Funds any type of renovation, including cosmetic or structural work, without a program eligibility list.
Costs and cashflow
- CEIP: Historically low posted program rates, including 3.25% in 2024 and 3.75% in 2025, plus long amortization up to 20 years. Payments flow through your property tax bill and are predictable.
- HELOC: Variable rate tied to lender prime plus or minus a margin. Minimum payments are often interest-only at first, but your cashflow can change as rates move or if you convert to a term portion.
Selling later
- CEIP: The Clean Energy Improvement Tax appears on your tax bill and tax certificate. You can either pay the balance at closing or transfer the obligation to the buyer if they agree, which aligns repayment with who benefits from the upgrades. Learn more on Calgary’s CEIP page.
- HELOC: It is a registered charge on title and is normally paid out from sale proceeds to clear title. Your lawyer will coordinate the discharge at closing. See an overview of discharges on WOWA.
Speed and paperwork
- CEIP: Includes application, pre-qualification, and approval before work starts. Intake windows can fill, and contractor and evaluation requirements may apply.
- HELOC: Lenders can often move faster once income, appraisal, and title checks are complete. After setup, draws are quick.
Quick decision checklist
- Define your scope. List each upgrade and mark which items are CEIP-eligible. Split funding sources if needed.
- Confirm timing. If you must start immediately, a HELOC may be the only path. If you can wait, check CEIP intake windows.
- Compare costs. Pull the current CEIP rate and any incentives from the City’s page, then get 2–3 HELOC quotes. Compare rate type, amortization, fees, and prepayment terms.
- Consider taxes. If any part of your project could be income-producing, speak with a tax professional and follow the CRA’s tracing rules for interest deductibility documentation.
- Plan for sale. With CEIP, prepare to disclose the Clean Energy Improvement Tax. With a HELOC, expect payoff and discharge at closing.
- Keep records. Save all quotes, invoices, and program documents. CEIP may require specific evaluations and contractor documentation.
Your next step in Braeside
If your Braeside home needs energy upgrades, CEIP can be a cost-effective fit that matches the life of the improvements. If your project is broader or time-sensitive, a HELOC may offer the flexibility you need. Start by confirming today’s CEIP rate and intake status on the City and CEIP portal, then compare a few HELOC quotes side by side. If a move is on your horizon, we can help you plan disclosures, timing, and market positioning so your financing choice supports your sale.
Have questions about how CEIP or a HELOC could impact your Braeside plans or upcoming listing? Reach out to Heather Tarras for local, practical guidance.
FAQs
What is CEIP in Calgary and who can use it?
- CEIP is a property-attached financing program for eligible energy and renewable upgrades, repaid via a line on your property tax bill. It is available to Calgary homeowners who meet program rules and are approved before starting work. See details on the City’s CEIP page.
Which Braeside renovations qualify for CEIP funding?
- Typical eligible items include insulation, efficient windows and doors, heat pumps, heat-pump water heaters, high-efficiency furnaces or boilers, ventilation upgrades, and solar PV. Check the current eligible list on the City’s CEIP page.
How do CEIP interest rates compare to HELOC rates?
- CEIP has posted low single-digit rates in recent years, including 3.25% in 2024 and 3.75% in 2025, with long terms. HELOC rates are variable and tied to prime, which can be higher when prime is elevated. Compare today’s CEIP rate to lender HELOC quotes for your profile.
Is HELOC interest tax-deductible for home renovations?
- Generally no for personal home upgrades. In Canada, interest is only deductible when the funds are used for an income-producing purpose, and you must be able to trace the use of funds. See the CRA’s guidance on interest deductibility.
What happens to CEIP or a HELOC when I sell in Calgary?
- CEIP can either be paid off at closing or transferred to the buyer if they agree, and it appears on the tax certificate. A HELOC is usually paid out and discharged from sale proceeds to deliver clear title. Learn more about discharges on WOWA.
