So whats the low down on income or secondary suites?
Posted by Steve Harmer on
Secondary suites are a form of rental housing that is typically affordable, ground-oriented and market-based.
Secondary suites, a common feature of larger, older homes in several Canadian municipalities, have been in existence for many years but became illegal in some jurisdictions when zoning bylaws set stringent requirements for the type of housing that could be accommodated in low-density areas. Since the 1980s, secondary suites have been recognized by policy makers as one of the most cost-effective ways of providing affordable rental housing and are an important part of the Canadian housing stock, especially in urban areas. Secondary suites make up close to a fifth of the rental stock in Vancouver and Edmonton. They are also an important source of…
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Move to a larger, more suitable home in your neighbourhood or stay put and renovate what you have? Finish the basement or build an addition? And most importantly, what would each scenario cost?
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