Province offering forgivable loans on construction of secondary suites
6/29/2010 at 11:54 AM
With the housing shortage being a fairly prominent issue on eBrandon, I thought this announcement that just came down from the Province would be of interest...
The Province is offering forgivable loans of up to $35,000 to cover up to 50% of the cost of secondary suites. Per the press release linked below, a secondary suite is:
"considered secondary to a primary residence. It normally has its own entrance, kitchen, bathroom and living area. Such a suite is often one of the following types:
· a suite below the main floor of a single-detached dwelling (a basement suite):
· a suite attached to a single-detached dwelling: or
· a suite detached from the principal dwelling such as a guesthouse.
When you consider the extra income potential that would come from creating a secondary suite at a much lower cost, is this the kind of thing that you can see some considering?
The press release touches on the issue of local laws.. can someone that knows a bit more about how local laws apply to this sort of thing possibly chime in?
Full press release:
http://news.gov.mb.ca/news/index.html?archive=&item=9064