In today's real estate market buying a home for $200,000 could prove near impossible, especially on the island of Montreal. But that's exactly what the government is offering as compensation to those who happen to live in areas that expected to be flooded over and over.
"It will allow people who are flooded year after year to have financial aid to locate elsewhere," said Public Security Minister Genevieve Guilbault. "So they stop being flooded year after year and it costs less to the government and less to all people."
The CAQ government recently unveiled its new flood compensation program. While it includes more money to help flood victims in the short term, long term it's more of a take it or leave it scenario.
The program will now see the government pay out a maximum of $100,000 in cumulative flood damage compensation. Once the cap is hit a homeowner will be offered $200,000 to move. If they refuse, they become ineligible for future government flood compensation.
For some, it's a no-win situation.
"That's ridiculous, my house is worth about $350,000 so it's not possible to consider that," Pierrefonds resident Michel Cournoyer told CTV Montreal. "My pension plan is here."
Off the island of Montreal you'll find a different reaction. Some homeowners in other regions hit by flooding, including the Laurentians, Beauce and Gatineau have said they would be more than happy to take the money and move on.
Montreal Mayor Valerie Plante said the idea of relocating people's lives is not easy, but there is also no catch all solution. She said for a plan like this to work the amount of compensation would have to be based on the region, adding property values are considerably higher in Montreal than they are in a region like the Beauce.
In Pierrefonds, around the area where flood waters affected the borough in 2017 and this year, several homes are currently up for sale. They vary in asking price from $400,000 to over $1 million. In Beauceville, another municipality hit hard by spring floods, similar homes currently up for sale have asking prices from $200,000 to $245,000.