You can’t claim the interest on the line of credit – you can only do this if you were using the property to generate income (such as a rental). However, if you made any improvements to the property, you can include those expenses in your Adjusted Cost Base (ACB) calculations when you sell the property. This can reduce the amount of capital gains that you can be taxed on.
This Canada Revenue Agency (CRA) page has more information on Adjusted Cost Base: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...
