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Source: CPAC

Province offering up to $40,000 to homeowners to build backyard suites

By Caitlin Snow Apr 9, 2024 | 6:01 AM

There is now a bigger incentive to build a backyard or secondary suite on your property.

The province says they are now offering forgivable loans of up to $40,000 to homeowners to build livable units inside their home or on the same property, or 50 per cent of eligible costs; whichever is less.

This is up from the original $25,000 offered.

The range of family members to live in them has also been widened including those with disabilities, grandchildren, siblings, aunts, uncles, nieces and nephews.

Previously only parents and step-parents, 65 years and older were eligible along with adult children and step-children of senior homeowners.

Housing Minister John Lohr says in our current housing market, every affordable home we can create, is needed.

“When we created this program, we promised to do a review to ensure it was achieving the best outcomes for Nova Scotians and we’re pleased to provide even more access to funding as a result.”

Lohr says these changes will help more people build affordable homes for people who need them.

The money can be used for cost of construction materials, labour, permits or to buy a prefabricated suite.

The province has received more than 500 inquiries about the program, have had 48 applications and approved 25 forgivable loans.