KMHB, Quebec eye beefed-up homeownership for Nunavik

Nunavimmiut will be eligible for higher subsidies when they build their own homes. Some may also be able to purchase their social housing units under a soon-to-be-announced program to encourage people to invest in private property. (PHOTO BY JANE GEORGE)

AKULIVIK — There’s good news ahead for Nunavimmiut who want to renovate or own their homes.

Quebec’s housing bureau, la Société d’habitation du Québec, and the Kativik Muncipal Housing Bureau will shortly announce a new program designed to boost ownership of private property for Nunavik.

Under this program, residents and outside companies doing business in Nunavik will get increased subsidies to build housing.

Some social housing tenants will also be able to purchase their units.

As well, current property owners can expect to receive a 50 per cent subsidy for renovations costing between $20,000 and $100,000.

The details of this new program, which will be called “a program to support the acquisition of private property in the Kativik region,” should be signed later this month, according to information presented last week at the the Kativik Regional Government’s meeting in Akulivik.

For those who want to build a home, the subsidy to help finance the project as well as the total eligible construction cost will be increased.

Previously, a resident building a two-bedroom home for a maximum eligible cost of $187,500 could expect to receive about $140,000 to help pay the cost.

Now, someone building a two-bedroom home will be able to spend $375,000 and get back about $281,000.

The maximum construction cost for a five-bedroom home will be upped to $450,000, with an increased subsidy of $337,000.

Homeowners will also be able to apply for a 75 per cent subsidy for municipal taxes — up to a maximum of $7,500 a year.

The only catch is that all prospective homeowners will have to take a crash course in home ownership before they move ahead.

That’s so they will go into the home-building or owning venture knowing they will face higher costs such as regular maintenance and monthly mortgages than in social housing or staff units,.

The KMHB will manage the new program, which replaces four former programs under the KRG, Watson Fournier, the KMHB’s manager, told the regional council.