FAQs About Canada’s Secondary Suite Program

Are you looking for answers to your most pressing Secondary Suite Program FAQs? This initiative offers homeowners incredible opportunities to create or renovate secondary suites while contributing to affordable housing. Below, we address the most frequently asked questions to help you navigate the program with confidence.

What Is the Secondary Suite Program?

The Secondary Suite Program is a government-backed initiative aimed at increasing affordable housing. It provides homeowners with low-interest loans of up to $80,000 to build or renovate secondary living spaces like basement apartments or garden suites. The program focuses on creating long-term rental options that meet safety and building standards.

Who Qualifies for the Program?

Q: Can I apply if I own a rental property?

A: No, only primary residences qualify. The program is designed to help homeowners improve their living spaces and support affordable housing.

Q: Do I need to live on the property?

A: Yes, the property must be your primary residence.

Q: What financial requirements must I meet?

A: You need to demonstrate your ability to repay the loan by providing proof of income or other financial documentation. Starting in 2025, you can also refinance up to 90% of your home’s post-renovation value.

What Types of Projects Are Eligible?

Q: Can I build a garden suite?

A: Yes, garden suites and laneway homes qualify as eligible projects under the program.

Q: Are garage conversions allowed?

A: Absolutely. Repurposing an existing garage into a functional living space is another eligible project.

Q: What if I want to renovate my basement?

A: Basement apartments are one of the most common projects supported by the program. Ensure your plans meet zoning and safety requirements.

What Are the Loan Details?

Q: How much can I borrow?

A: You can access up to $80,000 through the program. The loan features a fixed interest rate of 2% and a 15-year repayment period.

Q: Are there additional costs I should consider?

A: Yes, permits, inspections, and unexpected construction challenges can add to your expenses. Proper planning is essential to stay on budget.

Are There Rental Restrictions?

Q: Can I use the suite for short-term rentals?

A: No, the program requires the secondary suite to be used for long-term rentals. Platforms like Airbnb do not align with the program’s objectives.

Q: What counts as a long-term rental?

A: Typically, a lease agreement lasting six months or longer qualifies as a long-term rental.

How Do I Apply for the Program?

Step 1: Check Your Eligibility

Confirm that your property complies with zoning laws and building codes. Contact your local municipality for guidance.

Step 2: Prepare Your Documents

Gather the necessary paperwork, including proof of ownership, financial statements, and detailed renovation plans.

Step 3: Submit Your Application

Submit your application to your local housing authority. Double-check all information to avoid delays.

Step 4: Start Your Project

Once approved, begin construction. Municipal inspectors will check compliance during the build.

Step 5: Finalize Your Suite

Complete the project and prepare the space for long-term tenants. This will help you generate additional income while meeting the program’s goals.

Why Work with Terzetto Homes?

At Terzetto Homes, we simplify the process of creating functional and beautiful secondary suites. From initial planning to final inspections, our design-build remodel approach ensures your project aligns with all program requirements. Let us help you turn your vision into reality.

Ready to take the next step? Contact us today to learn more about how we can assist with your secondary suite project.