Intergenerational housing is gaining popularity in Quebec

Intergenerational housing is gaining popularity in Quebec

Faced with rising house prices and the cost of living, more and more Quebecers are considering intergenerational housing to facilitate access to home ownership and share family expenses.

According to a survey conducted by Leger for the Royal Bank of Canada (RBC), 46% of Quebecers surveyed would be willing to live in a property with other family members. Among current homeowners, 37% are willing to sell their home to purchase a multi-generational home with their child.

This formula allows financial resources to be pooled, housing costs to be reduced and generations to be brought together. However, properties adapted to this lifestyle remain rare in the Quebec real estate market.

As a result, some families are choosing to renovate and expand their homes rather than purchase a new home. Patrick Boisvert, from Quebec City, has built an independent dwelling to accommodate his aging parents, while facilitating the ties between his children and their grandparents.

Financial assistance may also be provided for certain projects. The federal government provides a tax credit of up to $7,250 for eligible renovations to create a multi-generational home. However, property owners must verify eligibility criteria and applicable municipal by-laws.

While the aging population and housing costs are putting pressure on families, intergenerational housing appears to be a solution to consider, provided that the financial, tax and practical aspects of the project are well planned.