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Guidelines
for Residential Properties |
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Minimum of 720 square feet
above grade for condos or properties with a full basement; or 1,000
square feet for properties without a full basement. Foundation must
be permanent and installed below the frost line. Minimum of one bedroom. |
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Complete, structurally sound
with no major repairs or updating required. |
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Central heating, potable
water supply and sanitary sewer or septic system. |
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Remaining economic life
of at least 5 years greater than the amortization period. For Scotia
STEP program, a minimum remaining economic life of 30 years is required. |
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Freehold or condominium
title only. |
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Zoned and used as residential,
rural or seasonal (mixed uses or rental pooling are not eligible).
Year-round access on reasonable quality public roads. |
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Good market appeal, within
price range for area and no adverse influences/neighbourhood nuisances. |
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Condominium units located
in Toronto and Vancouver with a minimum size of 550 square feet are
acceptable subject to the following criteria: |
- the unit was built in 1997 or later.
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- the unit is owner occupied.
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- the unit's locker/storage space is located in the project outside
of the unit.
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