Tag Archives: Utilities

Building Garden Suite Edmonton-Alberta

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Building Garden Suite Edmonton-Alberta

Building Garden Suite Edmonton-Alberta allows maximum one-time grant of up to $20,000. There are many different programs that are available to Alberta Homeowners to save money on purchasing homes, or making renovations.  A Secondary Suite:Is a self-contained dwelling located within a single detached house
Has separate cooking, sleeping and bathing facilities. Has a separate entrance from the single detached house, either from a common indoor landing or directly from the exterior of the house

 

Building Garden Suite Edmonton-Alberta

Is a self-contained dwelling located above or attached to a side or rear of a detached garage, or detatched from the principal single detatched house Is accessory to a single detached house
Has an entrance separate from the vehicle entrance to the rear detached garage, either from a common indoor landing or directly from the exterior of the structure
Has separate cooking, sleeping and bathroom facilities

Building Garden Suite Edmonton-Alberta
Get your copy of
Directory Forgivable Canadian Real Estate Grants
now at
www.GovernmentGrantsCanada.ca


Eligibility of the Homeowner (Applicant) for Building Garden Suite Edmonton-Alberta

Fund at least 50% of the eligible costs (without relying on other government funding)
Be the owner-occupier of the principal residential unit where the suite is proposed
Rent the secondary suite to an eligible tenant earning within the maximum income threshold by household size in the city of Edmonton
Sign and commit to fulfill the terms and conditions of a 5-year operating agreement
Have no tax arrears on the property
Hold title or have valid offer to purchase

Building Garden Suite Edmonton-Alberta

Funding Parameters

Maximum one-time grant of up to $20,000
Up to a maximum of 50% of the eligible costs
Meet City zoning and Alberta Building Code requirements to permit a secondary or garden suite
Suite must be located within the boundaries of the City of Edmonton
Eligible costs include: required servicing, building materials, qualified labour for construction to meet minimum health and safety code requirements for secondary suites, valid development and construction permits

 

Ineligible costs include: furnishings, appliances, and site development
Costs incurred prior to approval of Cornerstones grant funding are not eligible
Funding will be committed based on the figures submitted. Cost overruns will not be covered by the City of Edmonton

 

Application Requirements (Required Documentation)

Completed application form, signed and dated by all parties on title
Copy of Notice of Directors or a Corporation Search if the property is owned by a company
Valid 2017 development permit form for a secondary suite or a valid garden suite permit
Itemized estimates of the total construction costs of the proposed suite
Copy of a floor plan of the proposed suite approved by a City Plans Examiner
Copy of land title or valid offer to purchase
Copy of current property tax notice or assessment
Confirmation of project financingApplication Process

Building Garden Suite Edmonton-Alberta

Submit a completed application package with all the required documentation to: Housing and Homelessness, 2nd Floor, Edmonton Tower, 10111 104 Avenue NW
Approval of grant funding will be given in writing within an approval package which will contain an approval letter, 4 operating agreements, and schedule A for potential tenants to fill out
Schedule and pass pre-drywall inspection
Schedule and pass final inspection
Submit copies of paid receipts/invoices and return the 4 copies of the operating agreement (with original signatures of all parties on title) to: Housing and Homelessness, 2nd Floor, Edmonton Tower, 10111 104 Avenue NW
City will issue the cheque when all requirements have been met
A completion package will be sent shortly thereafter which will contain a completion letter, occupancy permit sticker, and a sealed operating agreement

 

Post-construction Obligations

The homeowner must maintain tenancy records for the term of the 5 year operating agreement, and make them available at any time the City requests to see them
The homeowner must notify the City when the suite is vacant during the term of the operating agreement
The City retains the right to access the property and monitor the project and ensure compliance with all terms and conditions of the operating agreement over its 5-year term
The City may inspect a Program-funded property on an annual basis
The homeowner and tenant must provide a City inspector access within one week of a request being made to enter the premises for up to 5 years after the receipt of Program funding
A homeowner who breaches the terms of the signed operating agreement will result in full repayment of the entire grant amount.

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.

When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Building Garden Suite Edmonton-Alberta
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca

Alberta seniors home adaptation & repair program

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Seniors Home Adaptation and Repair Program (SHARP)

Alberta seniors home adaptation & repair program allows senior homeowners age 65 and older to finance home repairs and adaptations through a low-interest home equity loan with the Alberta government.

Under SHARP, a maximum home equity loan of $40,000 will be available to single seniors and senior couples with an annual total income of $75,000 or less, and who have a minimum of 25 per cent home equity.
Alberta seniors home adaptation & repair program
Get your copy of
Directory Forgivable Canadian Real Estate Grants
now at
www.GovernmentGrantsCanada.ca


Consumer Protection Information


This new program includes consumer protection measures to ensure seniors know their rights when hiring contractors and entering into contracts. As a contractor operating in Alberta, you should be aware of the following:

SHARP will consider the reasonableness of the cost or fees to the senior for a home repair, Alberta seniors home adaptation & repair program or adaptation as part of the loan approval process.
Seniors who apply to the program will have contract cancellation rights if the senior is not eligible for a loan, has not waived their right to cancel and has not accepted any of the goods or services agreed to in the contract.
All current requirements for contractors and protections afforded to consumers under the Fair Trading Act still apply.
SHARP legislation ensures consumers get the information they need when they enter into a contract by obligating contractors and suppliers to carry out specific duties.

Alberta seniors home adaptation & repair program

Contractor (Supplier) Duties Under the Program

The following information summarizes contractor (supplier) duties and obligations as set out in the Seniors Home Adaptation and Repair Act (Act) and the Seniors Home Adaptation and Repair Regulation (Regulation). In the event of any conflict or discrepancy between the information on the Ministry of Seniors and Housing website and the Act and Regulation, the Act and Regulation shall take precedence. You are encouraged to click on the links to the Act and Regulation to verify the current information.

Before entering into a contract with a consumer, contractors (suppliers) are required to:

Advise the consumer that the Alberta seniors home adaptation & repair program is available to provide home equity loans to cover the costs of home repairs, Alberta seniors home adaptation & repair program or adaptations that are reasonably necessary for the maintenance, structural integrity or energy efficiency of the home or for the health, safety or mobility of the occupants.
Advise the consumer that if the consumer's application for a Alberta seniors home adaptation & repair program loan to cover some, or all, of the costs of the goods and/or services agreed to in the contract is received by SHARP within 45 days of the date of the contract, that the consumer has the right to cancel the contract if:
the consumer is notified by Alberta seniors home adaptation & repair program that their application for a loan is not approved, and
the consumer has not chosen to waive their cancellation rights, in writing, as authorized in the standardized written Seniors Home Adaptation and Repair Program statement of cancellation rights included in the contract, and
the consumer has not accepted delivery of the goods and/or provision of the services agreed to in the contract, in whole or in part.
Provide the consumer a standardized written Seniors Home Adaptation and Repair Program statement of cancellation rights, in the prescribed format as per the Schedule, which is included in the contract.
Refund any money paid to them by the consumer, under the contract, within 15 days if the consumer cancels the contract within 30 days of receiving notification from the Seniors Home Adaptation and Repair Program that the consumer is not eligible for a loan.

Alberta seniors home adaptation & repair program


Method of Contract Cancellation

The notice of cancellation may be given by any means, including, but not limited to, personal service, registered mail, courier or fax, or by any other method, including orally, by which the consumer can provide evidence of the date that the consumer cancelled the contract.

Impacts of Cancellation of a Contract and Responsibility of Supplier
Cancellation of a contract in accordance with the Seniors Home Adaptation and Repair Act means that the
contract

Alberta seniors home adaptation & repair program

 

any related transaction
any guarantee with respect to money payable
any credit arranged by the supplier whether or not included in the contract
any security given by the consumer
is cancelled as if it never existed. When the contract is an offer to buy, the offer is withdrawn.

In the case of cancellation, any money paid to the supplier must be returned to the consumer within 15 days of the contract cancellation.

Need More Information?
If you want more information about the Seniors Home Adaptation and Repair Program:

Call the Service Alberta Call Centre toll free at
1-877-427-4088 or 780-427-4088 in Edmonton or
email seniorsharp@gov.ab.ca.

The information on this website is provided for your personal or
educational use only. It is not legal advice.

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.

When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Alberta seniors home adaptation & repair program
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca

Down payment assistance program Calgary-Alberta

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Down payment assistance program Calgary-Alberta

PEAK is designed to help middle-income families and individuals purchase a home. PEAK stands for Public, Essential And Key workforce which is the primary group the program serves.
 

Down payment assistance program Calgary-Alberta
Get your copy of Directory Forgivable Canadian Real Estate Grants
now at www.GovernmentGrantsCanada.ca

The PEAK Program was introduced in 2009 to provide an affordable home ownership option for employed individuals who were unable to save up enough money for a Down payment assistance program Calgary-Alberta on their home. PEAK began as a joint program between Trico Residential, the Government of Alberta Municipal Affairs, CMHC and Habitat for Humanity.

To date, PEAK has helped 111 individuals and families purchase a home of their own.

PEAK housing units are priced at market value and recipients must be able to qualify for and hold a mortgage. Once you are approved for the program, PEAK will provide a second mortgage for either a partial or full Down payment assistance program Calgary-Alberta up to a maximum of 5% of the purchase price.

The second Down payment assistance program Calgary-Alberta mortgage is interest free for the first five years, with repayment not due until you sell your home. If you choose to stay in the home beyond the five-year period you will begin to accrue interest to the second mortgage.

The best part about it is that PEAK recipients are able to retain all of the equity in their home, minus their initial deposit, if they stay in the home for at least three years.
The goal of PEAK is to help new home buyers enter the market, retain their equity to move up, and to continue to recirculate the initial fund to help additional buyers purchase a home.

Down payment assistance program Calgary-Alberta

WHO QUALIFIES FOR THE PROGRAM?

PEAK is geared towards buyers who meet the following qualifications:

Are pre-approved for a five-year fixed-rate mortgage equivalent to the price of the PEAK housing unit;
Have a household income to a maximum of $80,000 per year for singles or couples with no dependant children living at home; or, $90,000 per year for singles or couples with dependent children living at home;
Don’t have available resources for a 5% down payment;
To secure a unit you must have $1,000 available for a Down payment assistance program Calgary-Alberta
Have assets equaling less than $30,000 per household (excluding primary vehicle, RESP, RRSP or pension); and
Will keep the PEAK Housing unit as your sole permanent residence.

More info at http://www.peakinitiative.ca/

Down payment assistance program Calgary-Alberta

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.

When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Down payment assistance program Calgary-Alberta
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca

Down payment in Calgary-Alberta

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Buy a home with a $2,000 down payment in Calgary-Alberta

Attainable Homes Calgary Corporation (AHCC) is a nonprofit social enterprise and wholly owned subsidiary of The City of Calgary that delivers well-appointed, entry-level homes for Calgarians who have been caught in the city’s growing housing affordability gap.

Down payment in Calgary-Alberta
Get your copy of
Directory Forgivable Canadian Real Estate Grants
now at
www.GovernmentGrantsCanada.ca

Through our Attainable Home Ownership Program, we connect builders, developers, lenders, lawyers and others to bring down the upfront costs of ownership so qualifying Calgarians can buy their very own home with a $2,000 down payment. Furthermore, when you decide to buy an attainable home, you're also choosing to pay it forward to help another family in the future. When you eventually decide to refinance or sell your home on the market, a share of the appreciation goes back into the program to fund more developments that will help even more people get a foot on the property ladder.

Down payment in Calgary-Alberta

Attainable Homes Calgary Corporation (AHCC) In a nutshell

One significant barrier to home ownership for many moderate-income Calgarians is the Down payment in Calgary-Alberta. We remove this barrier through an investment partnership. You, as the home buyer, provide $2,000 and we provide the rest to get to the required five percent Down payment in Calgary-Alberta. You live in your home as long as you want. If and when you sell your home, that’s when a portion of the home’s appreciation goes back into the program to pay it forward to future participants. The longer you live in your home, the larger your share to a maximum of 75 percent.

Attainable Homes Calgary Corporation (AHCC) Eligibility

· Maximum household income of $90,000/year with dependent children living in the home
· Maximum household income of $80,000/year with no dependent children living in the home
· Your assets are less than 20% of the home’s purchase price, up to a maximum of $50 000 (this does not include primary vehicle, RESP, RRSP & pension)
· You can qualify for a mortgage and put $2,000 of your own money down
· You complete one of our home education sessions (group session or independent)
· Your home will be your permanent and only residence

Attainable Homes Calgary Corporation (AHCC) Shared Equity Calendar

You never have to sell your home. But if you do, that’s when we share in the home’s appreciation with you. If you live in your home for three years or more, you will keep three quarters of the increase in your home’s value. The portion we take is to help pay it forward to future program participants.

Years of ownership*

Your share of the home’s appreciation 0 – 1 year 0%

1 – 2 years 25% 2 – 3 years

50% 3 + years 75%

*There is no minimum or maximum length of time required.

Down payment in Calgary-Alberta

Attainable Homes Calgary Corporation (AHCC) Example

Sometimes it’s easier to understand how the program works when we walk through an example.

Purchase price $220,000

Deposit from you $2,000

Gifted Down payment in Calgary-Alberta we provide $9,000

Your mortgage from a preferred lender $209,000

Say you sell your home after four years and the appraised value is $254,700.

Market value of your attainable home $254,700

Minus your original deposit $2,000

Minus your mortgage amount $209,000

Appreciation (increase in value) $43,700

The home grew in value by $43,700. If you are selling after four years of ownership, you keep 75% of that value or $32,775. The program keeps 25% or $10,925 which is paid forward to more people like you. It’s an investment partnership that works to help you and others like you.

Think you are ready to take the next step?

3 simple steps that will change your life

1. Fill in the online application form by clicking the “Let’s begin” button below. This will tell us about who you are, what you’re looking for and whether you fit the program criteria.

2. Education. Every home buyer must come to our office to complete an education session which can be done individually at our computer terminals or in a group session offered monthly. The session explains how the program works, provides information about our lender and legal partners and helps you to consider whether homeownership is right for you.

3. Mortgage pre-approval. As with any home purchase, all our clients must qualify for a mortgage. We are partnered with all of the major financial institutions. Each has specific agents who are very familiar with our program. Please contact us for a list.

Home ownership is within reach…

More info at http://attainyourhome.com/

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.

When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Down payment in Calgary-Alberta
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca

Ontario Renovates Program Brantford

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Program is made possible through the Investment in Affordable Housing (IAH) program, which is funded by the federal and provincial governments.

Ontario Renovates Program Brantford
Get your copy of Directory Forgivable Canadian Real Estate Grants now at www.GovernmentGrantsCanada.ca

The Ontario Renovates Program Brantford Program offers financial assistance to low to moderate income families to:

Ontario Renovates Program Brantford

Repair their home to bring to acceptable standards
Increase accessibility of their unit through modifications and/or adaptation

 

WHO IS ELIGIBLE?

You may be eligible for the Ontario Renovates Program Brantford Program if:

Your total household income is at or below the following thresholds for the Brant – Brantford area:
One bedroom (single or couple) – $33,5000
Two bedroom (single or couple with one child) – $41,000
Three bedroom (single or couple with two children)- $50,500
Four bedroom (single or couple with three or more children) – $61,500

You own a home that is your sole and principle residence with an assessed value of $200,000 or less
Household assets must be below $30,000 (which includes investments, stocks, bonds, shares, securities, RRSPs, GICs, Credit Union accounts, annuities, etc.)
Your house needs repairs or modifications in one of the following areas: structural, heating, electrical, fire safety, plumbing or accessibility.
Property taxes and mortgage payments are up to date
Insurance coverage is in place for the full market value of the home

Ontario Renovates Program Brantford

HOW MUCH FINANCIAL ASSISTANCE MAY YOU RECEIVE?

Households are allowed one application under the Ontario Renovates Program Brantford Program. Funding is provided as a fully forgivable loan, which is written off at an equal rate over a 10 year period. The loan is not repaid if the homeowners remain as owners and live in the home during the 10 year forgivable period.

WHAT REPAIRS CAN BE DONE?

To qualify, existing homes must need repairs to bring them up to a minimum level of health and safety, and/or permanent modifications to increase accessibility for the occupant's disability. All repair work must include energy-saving products where possible.

Ontario Renovates Program Brantford

Examples of eligible repairs include:

Structural (including building exterior such as roofs, foundations or walls)
Plumbing, fire safety, electrical and/or heating

Examples of eligible accessibility work include:

Ramps, Handrails, Chair and bath lifts, and
Height adjustments to counter tops.

http://www.brantford.ca/Housing%20%20Social%20Services%20%20Documents/FACTSHEET%20-%20Ontario%20Renovates%202017-18.pdf

For more information, contact: Jeff Lowe at 519-759-3330, ext 6240 or e-mail at jlowe@brantford.ca

DISCLAIMER

We believe the information contained in this article to be accurate.It is presented with the understanding that we are not engaged in
rendering legal,accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate
broker, lawyer, accountant, or other consultant as may be required.

Ontario Renovates Program Brantford
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca