basement apartment

Secondary Suites May be the Answer, or Not.

Many families in today’s economic setting, want to have elderly parents living independently within their home, or, many young purchasers need the secured income from a secondary suite to be able to qualify for a mortgage.

Several years ago, the provincial government took the decision matter regarding legal secondary suites out of the municipality’s hands, and has said that all municipalities MUST allow secondary suites. This was a result of much lobbying by the Ontario Home Builder’s Association, www.ohba.ca proving that legal secondary suites IS a good partial solution to affordable housing.

My first word of advice, Buyer Beware!

When purchasing a home with the intent of creating a legal secondary suite, or creating a secondary suite within your existing home, you need to understand the regulations, and affiliated costs of creating one, prior to closing a real estate deal or before renovations.

The regulations and building codes are difficult to understand, and I would encourage you to consult with a qualified designer who is knowledgeable regarding secondary suites prior to committing to a real estate agreement or renovation. (A qualified designer will more than likely charge a fee for a consultation).

Also, go on line and see if your municipality has any postings regarding secondary suites.

Adding a secondary suite is a popular building project and a little homework will go a long way to avoid headaches.

Regards,

James

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