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BC Government's Single Housing Application Service and Secondary Suite Announcement
Global News
On Monday, the BC government announced further details on initiatives being undertaken to support more homes being built quicker and more transparently.
The announcement included the introduction of the Single Housing Application Service (SHAS), which is an online tool that will connect home builders with dedicated project "navigators" to guide them through permit application, acting as a single point of contact for information and coordinating decisions across ministries. To register for the SHAS or see which Ministry permits are eligible for this service, click here.
The provincial government also released details of the Secondary Suite Financial Incentives. Starting in April 2024, homeowners will be able to access $40,000 to create a new secondary suite or accessory dwelling unit on their property. Loans will go to properties rented below market rates and the registered owners living in the property have a combined annual income of less than $209,420.
CHBA BC was invited to speak at the announcements given the association's involvement in providing feedback.
You can read more about the announcement and watch the Global News coverage here.
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What You Should Know About the Secondary Suite Financial Incentives
Vancouver Sun
Loans of up to $40,000 for homeowners to build a secondary suite intended to boost the supply of affordable housing across the province come with several conditions you should be aware of.
The Vancouver Sun outlines all of the requirements here. Some of the more notable requirements include:
- The home must be a primary residence and the household's combined income should not exceed $209,420.
- The property cannot be worth more than $2.125 million, and owners should have enough home equity that can be leveraged as security for the loan.
- The loan is given to the homeowner after construction is complete. The loan will be forgiven over five years if program requirements are met.
- The homeowner must rent out the secondary suite at below-market rates for at least five years to have the full loan forgiven and the suite cannot be rented to immediate family members.
The BC government says 3,000 forgivable loans of up to $40,000 will be offered to help pay for construction costs for basement suites, garden suites or laneway homes on their property.
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The Georgie Awards Entry Portal is Waiting for Your Project Submission
CHBA BC
We're already receiving submissions for the 2024 Georgie Awards submissions. If you're thinking about submitting a project for consideration, you have until Monday, Nov. 6 to complete your entry.
All the details are available in the Georgie Awards Call for Entries and our Entry Portal is open. There are over 50 award categories open to BC's best builders, renovators, designers, and real estate marketing professionals.
We're pleased to confirm BC Housing, Livabl and Home Depot as Platinum Sponsors for the 2024 Georgie Awards. You can check out all the sponsors here. If you’d like to join this growing list of sponsors, please reach out to [email protected].
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Proposed Development Cost Charge Inflationary Increase
Translink
Last week CHBA BC received details of Translink's proposed Development Cost Charge (DCC) increase which will be effective on Jan. 1, 2024.
Of interest to CHBA BC members, the proposed rate increase will see the DCC increase from $2,993 to $3,194 (+$201) for a single-family home, $2,4856 to $2,652 (+167) for duplex/townhouse and $1,554 to $1,658 (+104) for an apartment.
Translink's proposed rates reflect a 6.7% inflationary increase, based on the average annual Vancouver Consumer Price Index as published by Statistics Canada.
Translink has details on its DCC project list included in the 2022 10-Year Investment Plan.
If you have feedback, please reach out to Carmina Tupe, CHBA BC's Director of Policy and Government Relations at [email protected].
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Falls from ladders can cause serious injury and death.
Before using a stepladder ensure you know how to use one safely.
Watch the ladder and scaffolding video series now. Watch Video
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Coming to the Kootenays: Building Science for Renovations
CHBA BC
Do you understand the "house-as-a-system" to design energy-efficient and green renovations and retrofits? Learn tools and skills to incorporate green building and energy-efficient design successfully in your renovation and retrofit projects.
- Learn the current science and solutions behind renovating quality, energy-efficient homes.
- Educate your client on cost-effective home improvement options that consider health and energy efficiency and take advantage of incentive programs.
- Manage your clients' renovation goals.
- Reduce the risk of your renovation work creating problems with durability, health, or comfort.
As part of the Kootenay Clean Energy Transition project, the Community Energy Association is providing a $200 subsidy on course fees for participants from the Regional Districts of Kootenay Boundary, Central Kootenay, and East Kootenay, and those joining from the Columbia Basin Trust Region.
The subsidy is only available for the following sessions:
- Castlegar – Sept. 27 (Last chance to register)
- Nelson – Sept. 28 (Last chance to register)
- Invermere – Nov. 1
- Cranbrook – Nov. 2
Register here for Building Science for Renovations.
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You Need to Earn How Much to Buy a Home in Vancouver!?
CTV News
The minimum annual income needed to buy a home in Vancouver inched closer to $250,000 last month, according to an online mortgage brokerage Ratehub.
The latest monthly report calculated the amount using average home prices, mortgage rates and stress-test rates. In August, a person or household would need to make $246,100 to purchase a house in Vancouver.
The increase, according to Ratehub.ca, is due to interest rates and came despite a small dip in the average home price.
Read more details of the report at CTV News.
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Important Changes to FortisBC's New Home Program
FortisBC
You may have heard that there are some upcoming changes to FortisBC's rebate and incentive programs for natural gas equipment. On June 30, 2023, the BC Government made a regulation change that discontinued FortisBC's ability to offer rebates and incentives for gas equipment less than 100 percent energy efficient.
To aid in the transition to the next generation of rebates for residential new construction, FortisBC has implemented a pre-registration form for projects which started in 2023 or earlier. To be eligible for the current suite of rebates, pre-registration must be submitted by Dec. 31, 2023.
For more information, including details on what's changing, click here.
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Measure Twice, Cut Once Podcast Launches its 6th Season with BC's Housing Minister
HAVAN
Season 6 of HAVAN's podcast Measure Twice, Cut Once is launching next week. On Tuesday, Sept. 26, special guest Housing Minister Ravi Kahlon will share his vision for the Housing Supply Act and what this means for homeowners and those wanting to buy into the market with Jake Fry of Smallworks and HAVAN's CEO, Ron Rapp.
The episode will be available here, along with all previous seasons of the Measure Twice, Cut Once podcast.
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Weekly Update
Canadian Home Builders' Association of British Columbia
400-6400 Roberts Street | Burnaby, B.C., V5G 4C9
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