Secondary and backyard suite incentive program changes met with initial approval
Changes to the Nova Scotia government’s secondary and backyard suite incentive program is music to the ears of homeowner Charlotte Hansen.
“I am in the process of getting a permit to build a backyard suite for my parents,” said Hansen.
Forgivable loans up to $40,000 are now available for homeowners who build a backyard suite, which is an increase from $25,000.
This news comes as Hansen navigates the overall cost of a new self-contained and detached smaller home.
“So I was a little surprised when I got my own quotes to see how expensive it was to build from scratch, which is what I was doing,” said Hansen.
The changes to the provincial program also means any family member is now eligible to live in, or build new units.
Homeowners can charge as much as 80 per cent of average market rent while renting to anyone living below the household income limit.
“This is in effect, another way of doing a rent supplement,” said Nova Scotia’s Municipal Affairs and Housing Minister John Lohr. “The person who will move into the secondary suite, will benefit from reduced rent while they are in there.”
According to Royal LePage Atlantic president Matt Honsberger, by making backyard suites more affordable to more people, it will help create innovate solutions to the housing crisis in Nova Scotia.
“It is the idea of many hands make light work,” said Honberger. “We are allowing homeowners to help solve the problem of housing while also benefitting from it.”
Hansen said a new backyard small home can cost several hundred thousand dollars.
Shaving $40,000 off the final price tag, will help a lot.
“Is a significant amount of money, and I can make a big difference,” said Hansen, who also pointed out, converting a garage or basement into an apartment would be less expensive and government assistance would cover more of the cost.
For more Nova Scotia news visit our dedicated provincial page.
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