Alberta’s SHARP Program: Affordable Roof Repairs For Seniors

August 5, 2021

Alberta's SHARP Program: Affordable Roof Repairs For Seniors

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.

Details Of The Program

The eligibility criteria for a SHARP load is:

  • A senior homeowner, aged 65 and older;
  • An annual income of $75,000 or less; and
  • A minimum of 25% home equity.

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:

  • The home is sold;
  • The senior is no longer a registered owner;
  • The home is no longer the senior’s primary residence.

Other highlights of the loan are:

  • 2.7% interest rate, reviewed and adjusted twice a year;
  • No monthly payments, repay the loan with interest when the homeowner moves or sells the house;
  • Interest charges start on the date the program deposits a loan into the bank account; and
  • SHARP will consider the reasonableness of the cost of a suggested home repair as part of their approval process.

Roof Repairs

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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AKRoN Roofing offers cost-effective and resilient roofing solutions in Calgary. We provide a wide range of the best roofing materials in the market and hold the highest installation standards on all our roofs. AKRoN Roofing is a proud member of the Alberta Allied Roofing Association.

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