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NS News: Housing expansion in backyard

Nova Scotia is increasing its forgivable loan program to allow people to build secondary or backyard apartments on their property in an effort to address the housing market problem.

According to a news release from the province, the incentive program will now offer forgivable loans of up to $40,000 from the previous limit of $25,000 to people who want to make affordable apartments near their homes. The credit will be worth 50 percent of eligible costs or $40,000, whichever is less.

The program allows parents and step-parents who are at least 65 years old, adult children, grandchildren, great-grandchildren, siblings, aunts, uncles, nieces, nephews and family members living with disabilities in connection with property owners along with people living below the family income limits for the area to live in these apartments.

Accessible units are hard to find, so this means people won't have to leave their communities of choice to find accessible housing, said Lora Church, executive director of Association of Residential Agencies of Nova Scotia, in release. Units can be built to accommodate each person's unique needs. People will be able to live more independently, but with the support of close family members if they need it.

According to the announcement, the province received more than 500 requests for the program and 48 applications. They have approved 25 forgivable loans.

For more news from Nova Scotia, visit our dedicated provincial page.

Sources

1/ https://Google.com/

2/ https://atlantic.ctvnews.ca/more/nova-scotia-offers-40k-loans-for-backyard-housing-1.6837725

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