Alberta’s SHARP Program: Affordable Roof Repairs For Seniors
August 5, 2021
August 5, 2021
It can be difficult for seniors to pay for unexpected repairs and the maintenance of their homes. To help seniors live independently and feel safe in their homes without worrying about the extra costs of major renovations, the Government of Alberta runs a Seniors Home Adaptation and Repair Program (SHARP) that allows eligible seniors to use their home equity to assist with financing major repairs and maintenance projects.
Seniors with a total annual income of $75,000 or less are eligible to apply for the program. The loan is intended to finance home repairs and adaptations. The examples of what the loan can cover extend to roof and window replacement, plumbing, electrical repairs, furnace replacement, installing walk-in tubs, and widening doorways and hallways.
The eligibility criteria for a SHARP load is:
Under the program, seniors are provided with a maximum loan of up to $40,000. SHARP will register a caveat against the land title certificate to secure the loan received. Although there is no specific time allocated to the repayment of the loan, it will automatically become due when:
Other highlights of the loan are:
Over the years, roof replacement costs have increased and many homeowners, especially seniors, have had a hard time funding this work. However, under the SHARP program, seniors can apply for roof repairs and get them done without having to pay upfront.
A homeowner begins by reading the information guide supplied online and completing the application form. Copies of receipts or estimates are to be submitted to SHARP with the application. After this, the organization will take around four to six weeks to review the application.
To enable cancellation rights, the homeowner must apply for SHARP within 45 days of signing a contract. If the homeowner cancels the contract within 30 days from receiving a notification for the program of ineligibility, the applicant is not required to pay for the contracted work, and the contractor has 15 days to return any money paid as a deposit. It is important that the homeowner has not yet accepted any of the goods or services outlined in the contract.
Furthermore, it is always important to hire a legitimate, trustworthy company and confirm that they are licensed with Service Alberta as a pre-paid contractor if they request a deposit. It is also important to communicate to the contractor that an application for SHARP funding is pending. Learn more about hiring home services companies here.
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