$5m spruce-up fund for low-income homes

The government has unveiled a $5 million Home Improvement Fund to assist low-income homeowners in enhancing their properties’ appearance, Minister in the Ministry of Finance Ryan Straughn announced in the Budget speech in the House of Assembly on Monday.

“A well-managed home is not just a private asset, it is a public good,” Straughn said. “For many low-income homes the cost of home improvements, particularly painting and external improvements remains a challenge. To address this the government will establish a $5 million Home Improvement Fund in this fiscal year, sourced from the projected fiscal surplus.”

The fund, he noted, is designed to provide microloans and grants to individuals earning less than $30 000 per year, enabling them to carry out much-needed painting and minor external repairs.

“This initiative will provide microloans and grants to assist low-income homeowners, those earning less than $30 000 per year, on enhancing the appearance of their homes. This fund will serve as a direct and targeted intervention to support our most vulnerable citizens in uplifting their living conditions,” he said. “It will offer grants to assist with the cost of paint and minor external repairs, [and] provide microloans with low or zero interest for additional home beautification efforts. [It] would encourage neighbourhood-wide applications, allowing groups of homeowners in the same community to benefit collectively and maximise visual impact.”

In addition to the fund, Straughn revealed that in celebration of Barbados’ 60th Independence anniversary, the government will introduce a Community Beautification Awards programme, where the initiative will recognise and reward the best-kept homes and gardens, with participation open to all households, not just those utilising the fund.

“This initiative represents not just an investment in individual homes, but in the fabric of our society. It will improve property values, inspire civic pride, and contribute to a Barbados that is more beautiful and well-kept for all,” Straughn said. (SB)