BC offers homeowners up to $40K to build secondary suites
Andy Schildhorn • October 3, 2023
Let's talk about the new BC Government forgivable loan of up to $40,000 for adding a suite to your home.
To qualify, you must be a Canadian citizen, it must be your primary residence, and your combined income may not exceed $209,420. Additionally, your property cannot be worth more than $2.125 million.
This is a significant step towards increasing rental housing in the Lower Mainland and other parts of BC. Moreover, the federal government has introduced GST forgiveness for new rental buildings. All of these initiatives aim to create more rental inventory and reduce the stress on rental pricing.
More details here can be found here.
Feel free to reach out to me anytime at 778-835-8957. Have a great day, and I look forward to talking with you soon!
To qualify, you must be a Canadian citizen, it must be your primary residence, and your combined income may not exceed $209,420. Additionally, your property cannot be worth more than $2.125 million.
This is a significant step towards increasing rental housing in the Lower Mainland and other parts of BC. Moreover, the federal government has introduced GST forgiveness for new rental buildings. All of these initiatives aim to create more rental inventory and reduce the stress on rental pricing.
More details here can be found here.
Feel free to reach out to me anytime at 778-835-8957. Have a great day, and I look forward to talking with you soon!
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