What is Alberta’s Seniors Home Adaptation and Repair Program (SHARP)?
Alberta’s Seniors Home Adaptation and Repair Program (SHARP) is designed to help senior homeowners in Alberta make necessary repairs, adaptations, and renovations to their homes. This program allows seniors to improve the safety and sustainability of their homes, ensuring they can live independently in their own homes for as long as possible.
The program offers low-interest loans that can be repaid at any time without penalty, with repayment only required when the home is sold or the homeowner no longer resides there. The maximum loan amount available is typically substantial, enough to cover significant renovations.
Who is eligible for the Seniors Home Adaptation and Repair Program (SHARP)?
To be eligible for SHARP, applicants must be 65 years or older, have a household income under a certain threshold, and hold a minimum of 25% equity in their home. The program is aimed at homeowners who plan to continue living in their homes.
Seniors interested in SHARP need to apply and demonstrate that the intended renovations are necessary and reasonable. The process involves submitting details about the proposed improvements, cost estimates, and proof of income and home equity.
When was the Seniors Home Adaptation and Repair Program (SHARP) introduced?
Alberta’s Seniors Home Adaptation and Repair Program (SHARP) was introduced in 2016. The program was established to provide low-interest loans to senior homeowners in Alberta to help them make necessary repairs and adaptations to their homes, enabling them to continue living independently and safely in their own homes as they age.