16 Jun

Prefab Backyard Homes: Build Smart, Live Better

Prefab

Posted by: Michael Greene

Looking for extra income, space for loved ones, or a creative way to add housing? Prefab backyard homes might be the solution you’ve been waiting for. With faster build times, lower costs, and growing government incentives—this once “alternative” idea is now going mainstream.

Let’s break down why prefab homes and secondary suites are on the rise, how much they cost, what funding is available (some up to $90,000!), and how real Canadians are using them to change the game.

Why Prefab Homes Are Booming

Prefab homes (also known as modular or factory-built homes) are built off-site, then delivered and assembled on your property. They’re fast, efficient, and designed to meet the same building codes as traditional houses.

Top benefits:

  • Faster builds – Often move-in ready in weeks

  • Lower costs – Fewer surprises and less waste

  • Eco-friendly – Smaller carbon footprint

  • Zoning-friendly – Many cities now allow garden or laneway suites

  • Government support – Big incentives for homeowners

This isn’t just about trends—it’s about real solutions for housing supply, affordability, and family living.

Funding for Prefab Backyard Homes: What’s Available?

Cities across Canada are offering generous incentives for homeowners who add an Additional Residential Unit (ARU) like a prefab suite or laneway home. The goal? Boost affordable rental options and support multi-generational living.

Example: London, Ontario

  • $45,000 interest-free loan – repayable over 9 years

  • $45,000 forgivable loan – if rented below market rate for 10 years

That’s up to $90,000 in support for homeowners—no developer status needed.

Other Municipal Incentives

  • Toronto – Up to $50,000 forgivable loan

  • St. Catharines – Up to $80,000 in grants

  • Peel Region – Up to $30,000 forgivable loan

  • Ottawa – Offers zoning and planning support

Requirements typically include:

  • Long-term rentals (not Airbnb-style)

  • Affordable rent based on CMHC guidelines

  • Local permit and insurance compliance

Real Story: The Bakers’ Backyard Prefab Success

Mark and Sarah Baker built a 750 sq. ft. prefab suite behind their home. They worked with Axe Living, a modular builder in Ontario. The results?

  • Unit arrived 80% complete

  • Move-in ready in under 3 weeks

  • Built for about $300/sq. ft., including taxes and hookups

  • Cheaper than traditional construction by 25–30%

With municipal funding, their build became even more affordable.

How to Finance a Prefab Backyard Home

You don’t need to refinance your whole mortgage to fund a secondary suite. Here are smart financing options:

  • HELOC – Flexible, great for homeowners with equity

  • CMHC Secondary Suite Refinance Program – Borrow up to 90% of your home’s value

  • Construction loan – Good for larger or staged builds

  • Second mortgage – Useful if you want to leave your first mortgage intact

Tip: Work with a mortgage advisor who understands ARUs and prefab housing.

Insurance for Prefab Homes: What to Watch Out For

Not all insurers understand modular homes yet. The Bakers had to switch insurers when theirs declined coverage. Their new policy came with a 40% premium increase.

To avoid surprises:

  • Call your provider early

  • Ask specifically about prefab and ARU coverage

  • Confirm both homes are fully insured

What If You Sell Before the Loan Term Ends?

Good news: in cities like London, the forgivable loan may transfer to a new owner—if they continue to rent the unit affordably. If not, a portion of the loan may need to be repaid.

This flexibility makes prefab homes a great investment even if you plan to sell in a few years.

Prefab Homes for Families

Prefab homes aren’t just about income—they’re a lifeline for families.

  • Help aging parents live independently

  • Support loved ones with disabilities

  • Keep adult children nearby without crowding

  • Stay close, while respecting privacy

Programs like London’s forgivable loan help make this kind of housing truly attainable.

Ready to Explore Prefab Homes?

If you’ve got the space and the vision, now is the time. Between funding options, faster builds, and flexible zoning, prefab homes are finally getting their moment.

Your next step? Let’s talk.

As a mortgage professional, I help homeowners like you finance modular builds, unlock equity, and take advantage of municipal grants. I’ll walk you through it.

📞 Call today or book a free consultation to explore your options.

13 Jun

The Government’s Plan To Use The GST Rebate To Help More People Buy

Pre-Construction

Posted by: Michael Greene

The Canadian government wants to help people buy new homes by giving a GST rebate, which means buyers get some tax money back.

But, there’s a big question: How much will it cost?

The government says $3.9 billion over five years, but another group thinks it’ll be about $2 billion. That’s a big difference!

What Are Canada’s Big Challenges in 2025?

Before we look at homes, let’s see what’s going on in Canada this year:

  • Trade wars: The U.S. has put new tariffs on Canadian goods, like lumber and aluminum, making it harder for Canadian companies and builders.

  • Slow population growth: Canada is taking in fewer new people, so fewer new workers and home buyers according to monitory policy report from the Bank of Canada

  • Rising unemployment: Canada’s job trouble continues as more people are without jobs—around 7% in May, the highest it’s been in nearly 9 years

  • Interest rates changing: The Bank of Canada is cutting rates to help, but people still owe a lot and get less spending room. 

In short, Canadians are feeling worried about spending money. Jobs and housing prices haven’t been great lately .

How the GST Rebate Might Help

By giving money back to new home buyers, the government hopes:

  1. More people will buy newly-built homes.

  2. Builders will start more houses and condos—especially in cities like Toronto where condo sales are slow.

  3. This could create jobs for builders and more homes for families.

But Let’s Talk About the Problems

Building things isn’t easy right now. Here’s why:

  • High costs: It costs a lot to borrow money and buy materials.

  • Fewer skilled workers: Many experienced builders are retiring.

  • Paperwork delays: Building permits take a long time.

  • Trade issues: The tariffs make things more expensive

Plus, if people think they’ll get a rebate, builders might raise their prices for materials and labour. That means houses might not get cheaper—just cost more. That could make it harder for everyone.

When Would the Rebate Start?

If the parliament agrees, here’s the idea:

  • Applies to new homes bought from May 27, 2025, to 2031.

  • Construction has to start by 2031 and finish by 2036.

  • It’s packaged with a tax cut that starts July 1, 2025.

✅ Why It Matters

Right now, Canada’s economy is having a tough time—with trade tensions, fewer jobs, and slow population growth. The GST rebate might help by encouraging more homebuilding and giving buyers a break.

🗣️ What Is Being Said

The government believes the GST rebate can help people afford homes and restart construction. But experts warn that unless more houses are built fast, costs won’t come down. We might even see prices go up if builders just raise their prices.

💭 My Opinion

I think the rebate could be a smart start to help Canadians buy homes in 2025—but only if it’s matched with bigger efforts to simplify building permits, train workers, and reduce trade costs. Without that support, it could end up just making houses more expensive—and that’s the last thing people need.

11 Jun

Canada’s Job Trouble: Why More People Are Struggling to Find Work

General

Posted by: Michael Greene

Right now in Canada, a lot of people are having job troubles, no jobs available anywhere.

In May 2025, not many new jobs were added — just about 8,800 — which means the number of people working stayed mostly the same. But more people are now without jobs. The unemployment rate went up to 7.0%, which is the highest it’s been since 2016 (not counting the pandemic years).

Who’s Working and Who’s Not?

  • Women aged 25 to 54: More got jobs in May (+42,000).

  • Men aged 25 to 54: Fewer had jobs (-31,000), and their job rate is now the lowest since 2018.

  • Young people and seniors: Job numbers stayed mostly the same.

Where Jobs Were Gained (and Lost)

More jobs were added in:

  • Stores and shops like grocery or clothing stores

  • Fun places like movie theatres and sports centres

  • Banks and real estate

  • Utilities (like electricity companies)

Jobs were lost in:

  • Government offices

  • Restaurants and hotels

  • Transportation (like trucking or delivery)

  • Business support (like cleaning or maintenance companies)

Which Provinces Changed the Most?

  • B.C., Nova Scotia, and New Brunswick got more jobs.

  • Quebec, Manitoba, and P.E.I. lost jobs.

  • Ontario didn’t change much, but big cities like Windsor, Oshawa, and Toronto have some of the highest jobless rates in the country.

Wages Are Up — But So Is Job Searching

On average, people are earning $36.14/hour, which is a little more than last year. But people looking for jobs are having a tough time:

  • It’s taking longer — about 22 weeks (more than 5 months) to find a job.

  • Almost half of unemployed people haven’t worked in a year — or ever.

What About Students?

Students trying to get summer jobs are really feeling it:

  • The jobless rate for students (ages 15 to 24) jumped to 20.1%.

  • For young men, it’s even higher: 22.1%.

  • Most student jobs are in retail, fast food, or recreation — and many of those jobs are disappearing.

Spotlight on Indigenous Communities

In May, Indigenous employment rates were mostly stable:

  • First Nations adults off-reserve had a job rate of 68.2%

  • Métis adults had an increase to 81.1%

  • Inuit employment in Nunavut stayed about the same at 55.8%

But among Indigenous youth, job rates were lower and in some cases, getting worse — especially in Nunavut.

🔍 What This Means

Even though some people and places are doing okay, the overall picture shows more Canadians are looking for work and not finding it. It’s a sign that the job market is getting tougher — especially for men, students, and certain regions.

If you or someone you know is looking for work or worried about money, it might be time to explore new training, support programs, or even financial options to stay ahead.