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Your Planet-Wise Teardown Financing

If you’re tearing down a home to build a new one, or undertaking a renovation, we can help you save money and limit the environmental impact. Good for you and the planet.

The deconstruction difference

Your Vancity Planet-Wise Teardown Financing can be used to employ contractors to deconstruct your building. For example, Unbuilders are a deconstruction and salvage company. They dismantle buildings in a way that saves lumber, windows, doors, cabinets, fixture, fittings and appliances. Deconstruction involves systematically taking buildings apart by hand, keeping at least 80%* of building materials out of the landfill.

  • You can receive a tax credit for your donating materials to Habitat for Humanity’s ReStore or,
  • The salvaged materials from your home can be sold and used as the materials to build homes for locals

Why not just demolish?

  • Environmental impact: Material from the construction, demolition and renovation of buildings makes up a staggering share of our region’s landfill waste.
  • Sustainability: Deconstruction means the materials from your home are reused, giving them a second life.

Loan options and features:

Planet-Wise Renovation Solution

  • Financing terms up to 15 years
  • Minimum loan amount of $3,500 and a maximum of $50,000
  • Preferred interest rate of Vancity Prime Rate + 0.75%

Creditline (Unsecured Line of Credit):

  • A preferred interest rate based on Vancity Prime Rate
  • Unsecured loan
  • Maximum loan amount based on how you qualify

Construction Mortgage

  • Get a 120-day1, up-front guarantee on interest rate and the mortgage terms
  • Pay interest only for up to 18 months, starting from the date of the first advance
  • Get financing for up to 80%** of the value of the home you plan to build.


Let your Account Manager know that you’re planning a demolition to build a new home or undertaking a renovation. They’ll take you through the financial and environmental benefits of deconstruction, provide information on the tax credit you can apply for, and work with you to find the best financing option.