More and more Canadians are living in multigenerational households each year. According to Statistics Canada, multigenerational living arrangements increased by roughly 10% from 2016 to 2021.
In 2023, the Federal Government of Canada introduced a new tax credit for multigenerational home renovations. If you build a secondary suite or a home addition to house a family member over the age of 65, or a family member between the ages of 18 and 64 who is eligible for the Disability Tax Credit, you may be eligible for a tax credit of up to $7500. For more information on the tax credit, check out the following link: MHRTC.
If you are planning to build a secondary suite or home addition for a family member, we can help. We will walk you through the design process, permitting, and construction stages. Take a look at the photograph below, which shows the construction of a recent home addition in the Fraser Valley undertaken by the general contractors at Christensen Construction.
CHRISTENSEN CONSTRUCTION 