Financial Assistance Programs
We understand that financing a build can be one of the biggest hurdles, which is why we make every effort to stay up to date on programs that offer financial support for housing. We’ve highlighted several below that may be worth exploring for eligible homeowners.
Please note that while we do our best to share accurate and timely information, we are not lenders, do not facilitate financing, and are not experts in these specific programs. For full eligibility criteria, application instructions, and the most up-to-date details, we encourage you to visit the official program links provided.
Canada ----
GST New Housing Rebate for First-Time Homeowners
ActiveGovernment of Canada | GST Tax Rebate / Exemption
Purpose: Eliminates or significantly reduces the Goods and Services Tax (GST) payable on newly built homes for first-time buyers.
Eligibility:
- First-time homeowners
- Must be primary residence
- New construction or substantial renovation
- Homes valued up to $1 million for full exemption
Funding Details:
- 100% GST rebate (the federal part of the HST), capped at $50,000
Secondary Suite Loan Program
UpcomingGovernment of Canada | Low-Interest Loan
Purpose: To significantly reduce the financial barrier for homeowners building secondary suites by doubling the existing low-interest loan limits.
Eligibility:
- Homeowners constructing secondary suites
- Further details to be released by the government soon
Funding Details:
- Up to $80,000 (doubled from previous $40,000)
- Interest Rate fixed at 2%, repayable over 15 years
Nova Scotia ----
Secondary and Backyard Suite Incentive Program
ActiveGovernment of Nova Scotia | Forgivable Loan
Purpose: Provides financial assistance for constructing secondary or backyard suites, promoting affordable housing and family accessibility.
Eligibility:
- Homeowners in Nova Scotia
- Suites built on existing residential properties
- Must meet residency conditions over a 5-year period for loan forgiveness
- Supportive Housing Stream: For homeowners or tenants who are seniors (65+) or persons with disabilities, promoting independent living with nearby family support.
- Affordable Housing Stream: For homeowners who agree to rent the suite to a tenant with low-to-moderate income at an affordable, below-market rate.
Funding Details:
- Up to $40,000 (forgivable with conditions)
First-Time Home Buyers’ Rebate
ActiveGovernment of Nova Scotia | Provincial HST Rebate
Purpose: Provides financial relief to first-time homebuyers by rebating a portion of the provincial component of the Harmonized Sales Tax (HST) paid on newly constructed homes.
Eligibility:
- First-time homebuyer, who resides in Nova Scotia (has not owned or co-owned a home anywhere in the world within the last five years)
- The home must be intended as the applicant’s primary residence
Funding Details:
- Rebate of 18.75% of the provincial portion of the HST, up to a maximum of $3,000
EnergyForward New Homes
ActiveEfficiency Nova Scotia | Incentive Program
Purpose: To encourage the construction of energy-efficient new homes by providing financial incentives and expert guidance throughout the building process.
Eligibility:
- New home constructions in Nova Scotia
- Builders and homeowners committed to achieving high energy efficiency standards
Funding Details:
- Up to $25,000 in incentives per home, based on acheiving target goals
Halifax ----
Second Unit Incentive Program
ActiveHalifax Regional Municipality | Grant
Purpose: Assists homeowners with water and wastewater infrastructure and Halifax Water fees for secondary units.
Eligibility:
- Homeowners within HRM boundaries
- Constructing an approved second unit
Funding Details:
- Halifax Water fees grant: Up to $2,762.96 to cover required Regional Development Charges (RDC) for your second unit, and $150 to cover the initial required inspection fee for a backyard suite.
- Water and wastewater infrastructure grant: Up to $10,000 to help cover costs related to new water and wastewater connections to the Halifax Water system, or onsite well and septic systems.