The Secondary Suite Incentive Program will help homeowners create affordable housing in their communities. The program will provide money to help homeowners create a new secondary suite on their property to be rented out for below market value.
Homeowners who qualify will receive up to 50% of the cost of renovations, up to a maximum of $40,000. The program will provide a rebate in the form of a forgivable loan—a loan that does not need to be repaid if the homeowner follows the terms of the program.
For the loan to be forgiven, the new unit must be located on the same property where the homeowner lives and rented out at reduced market rates, set by BC Housing, for at least five years.
Applications will be approved on a first come, first served basis until annual funding is used up.
Homeowners
- Registered owner(s) of the property
- Canadian citizens or permanent residents
- Live in the property as their primary home
- Combined gross annual income of all homeowners on title of less than $209,420 (in the previous tax year)
Property
- Located within the approved list of municipalities or regional districts in British Columbia
- Have a BC Assessment value below B.C.’s homeowner grant threshold ($2.15 million in 2024)
Secondary Suites
- A new legal self-contained unit with a kitchen and full bathroom (improvements to existing rental units are not eligible)
- Laneway homes/garden suite are eligible
- Received municipal building permits on or after April 1, 2023
How to Apply:
- Check with your municipality to confirm if zoning allows for a secondary suite
- Arrange for contractors and financing
- Apply for a building permit as required (building permits issued on or after April 1, 2023 will be considered)
Apply Online Using the Online Portal:
- Submit eligibility documents (proof of residence and income) and
- Include your municipal building permit
Speaking to a professional is essential. Please always verify the accuracy of this information through your own due diligence. Nicole McWilliams will assume no responsibility or liability for the accuracy of the information within.
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