Introduction of Secondary Suite Incentive Program by the Canadian Government

Well.....this sounds great at a first glance but is it really worth it for home owners to take advantage of this "up to $40,000" assistance to build a secondary suite? This program starts May 2nd, 2024, a day after the B.C short-term rental restriction.

Homeowner's who qualify for this program will NOT have to pay back the loan if they follow these requirements:

1. Must be located in the same property where the homeowner lives

2. Rent the unit for 5 years

3. Rent the unit for below market rates set by BC Housing

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