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Living the 'Suite' Life 11 Jul 2019

Living the 'Suite' Life

Following the grand opening of our new showhomes in Livingston, we have seen many Calgarians gaining inspiration from the legal secondary suite featured in the Carbon 26 model. Not only are there some great benefits for the homeowners who are building a legal secondary suite, but there are several perks for the renters and the community.

Homeowner Benefits

By incorporating a legal secondary suite into your new build, you are investing in the future of your home. After all, many homebuyers view this extra liveable space as an attractive option to help bring in some extra money to pay the mortgage down - therefore a secondary suite can ultimately help increase the re-sale value of your home. Cedarglen Homes will handle the permit, construction and make sure all building codes, city by-laws and safety standards are met. Once your new home is ready to move in and you can start renting your secondary suite out, you will see a significant boost in income and it will help you begin to pay down your mortgage even sooner. A secondary suite could also provide the opportunity for you to downsize your living space as you get older, while remaining in the same house and community that you have grown to love. Additionally, as you begin to rent out the space, you can draw on your renters to help with home maintenance tasks such as shoveling the sidewalk and mowing the lawn. Finally, a secondary suite is a fantastic opportunity for extended family to live nearby while still maintaining some day-to-day separation.

Renter Benefits

Not only does a secondary suite provide plenty of perks to homeowners, but there are definite benefits to renters as well. For example, a secondary suite is a perfect alternative for those who want to live in a community featuring parks, green spaces and HOA facilities without paying a condo fee.

Community Benefits

As the housing markets change, secondary suites provide a great opportunity to maintain the population in lower density areas with modest growth. This increase in population to established areas will help to maximize the existing infrastructure in the community and create a better overall use of land and city services (such as public transportation and community gathering spaces). Additionally, by adding another rental option to the plate, secondary suites will help to diversify the city’s housing market.

 

It is important to remember that all the above perks are only maximized when you create a legal secondary suite – therefore you must adhere to all regulations and acquire any necessary permits. See our previous blog post on creating a legal secondary suite for more information on requirements, or visit one of our showhomes to see how Cedarglen Homes can help you add a secondary suite.