Canadian Grants for Property Owners – Are You among the Top 10 Advantage Takers?

It is a general view that Canadian housing and property grants are beneficial only for the first-time home buyers. The fact is that there are many other categories of home and property owners who can take advantage of these government loans. By extending this financial help, the governments in various parts of Canada have made life easier and more comfortable for different homeowners. Go through the top 10 homeowner types who can make the best out of these grants; a list you will find nowhere else.

Property Owners with Disability

Physical disability may be a big hindrance for the homeowners to maintain their homes. Moreover, a number of safety installations are required to make properties safer for the disabled members of the families. Handrails and chair lifts are the best examples of such installations. Homeowners who are physically disabled or have a disable family member are eligible to obtain financial help from Residential Rehabilitation Assistance Program and other such programs.

Homeowners with Low Income

Low income is another concerning issue that homeowners face. Apart from offering grants to the first time home buyers with low income, the Canadian grants are also available for those who lose income due to circumstances like disability. Another good example is of the home-owning families who lose the sole bread earners and need money for important renovations.

Homeowners Who Are Senior Citizens

Various home adaptation grants are available for the senior citizens in Canada having age above 65. The Home Adaptations for Seniors' Independence is one such program that offers loan to senior citizens owning homes without sufficient income to do renovations and repairs. The program offers up to $3,500 of forgivable loan amounts, provided that the changes are made to make the property safer on permanent basis.

Homeowners Who Wish to Save Energy

The Canadian grant programs appreciate the homeowners who wish to make efforts in the direction of making their homes energy efficient. One such program is ecoEnergy Retrofit Grant that offers up to $5,000 as grant money in Ontario. Another category of financial help is offered to the homeowners who wish to replace their traditional appliances with new energy-rated appliances.

First Nation Homeowners

Residential Rehabilitation Assistance Program and many other similar housing grants are available for those who have the membership of First Nations Councils. You can apply for this type of grant with the help of your council. Remember that the grant amount may differ on the basis of the region of your location. One of the important eligibility criterions is that the house should be at least 5 years old.

Grants for Emergency House Repairs

Canada Mortgage and Housing Corporation is known for offering grants to the houses located in the rural areas. The grant money is issued to help these homeowners in emergency house repairs. Repair of electrical systems and heating systems are among the needs that can be fulfilled with this category of housing grants.

Mortgage Owners

Another category of homeowners who can benefit out of Canada housing grants is that of mortgage owners. Canada Mortgage and Housing Corporation offers a relief of up to 10% to the individuals who prefer to buy energy efficient homes. Those who make energy-related savings at their current homes may also apply for this type of relief.

Family of Veterans

Veterans who had participated in any of the Two World Wars can also take advantage of the Canadian housing grants. Apart from the veterans who are alive, the spouses and widows and other family members of veterans are also eligible to apply for these grants.

Homeowners Who Rent to Special Tenants

Another interesting form of housing related grants is available for the homeowners who rent a part of their house to disabled people. This type of financial help is also available for those who rent their properties to senior citizens. Residential Rehabilitation Assistance Program offers up to $24,000 of grant money to such homeowners. The loan is forgivable and the homeowner needs to follow the renting restrictions for at least 15 years.

Owners with Multi-use Buildings

The housing grant programs like Eco Energy Retrofit Grant are also available for the owners who have multi-use buildings. Two important eligibility conditions are that the building should not have more than three stories and at least 50% of the building is used for residential purpose only.

All such wonderful housing grants and housing relief programs have been helping the Canadian homeowners and home buyers. Learn in detail about the important conditions and eligibility criterions to apply with the most suitable program.