A “substantially renovated” home is defined as one that has undergone a major renovation to the point that the physical and sometimes the functional aspect of the existing home is not the same as it was prior to the renovation. For example, a part of your renovation project is to breakdown the wall separating your kitchen and dining area and re-purpose your dining area as part of your newly renovated kitchen. A major addition to an existing home like converting an unfinished basement to a fully finished legal basement suite may also be considered as part of a substantially renovated home. Such a home is treated like brand new home and as a result, a new housing Rebate may be claimed on the cost of the renovation.