EVERYTHING you need to KNOW about the Ontario Housing Supply Action Plan
Did you hear?
There’s a housing crisis going on…
The divide between the rich and the poor is continuing to grow… (with SOCIAL MEDIA being the culprit)
The Homeless population is increasing…
They say San Fransisco is half developers and half homeless people.
Toronto and Kitchener-Waterloo aren’t that far off.
It’s Strange Times…
As the Joe Rogan Netflix Special title prophesied.
And what is the government doing, to combat these strange times you ask?
And how does it relate to the everyday homeowner and real estate investor?
Ontario has proposed a new Ontario Housing Supply Action Plan, where there is a full-fledged plan of action to increase the supply of housing, while also maintaining heritage spots, economic sectors, and the environment.
But there’s one change that affects us, the everyday home-owner and real estate investor directly…
Because it’s in our circle of control.
The Ontario Government has asked ALL municipalities to include a provision for secondary dwellings in their plan in some capacity.
Changes to the Planning Act will be made to make it easier to create residential units above garages, in basements, and in laneways.
Changes to the Development Charges act will make it easier to…
- reduce the costs to build priority housing types, like second units
- Fully cover municipalities’ waste conversion costs
- Make the cost of development clear from the outset
But it gets better.
Because the latest bill has enabled any Ontarian to build a tiny home in their backyard. Check out my blog post about it here!