What are secondary suites?
The term “secondary suite” is generally used to describe a self-contained dwelling unit with its own kitchen and bathroom, which is separate from the principal dwelling in a house. It can be located either within the principal dwelling or in an accessory building on the same lot as the principal dwelling. These units are also known as “accessory apartments” and “in-law suites.”
Secondary Suites In Canada
Basement apartments are the most common type. Aside from being affordable to renters, they also provide income and extra security for the home owner who has more space than is needed, and make entering the housing market easier for first-time buyers who may use the rental income to offset their mortgage costs.
Secondary suites are an affordable housing option that meets the needs of many people, including members of an extended family, singles, seniors and people with low or fixed incomes. Since secondary suites are usually constructed inside existing buildings, they help optimize the use of existing housing stock and infrastructure, and re-populate neighbourhoods with declining populations.
What Regulations Apply to Secondary Suites In Canada?
Whether you intend to renovate an existing secondary suite or add a new one, the secondary dwelling unit must conform to all zoning, building and fire code requirements.
DISCLAIMER:
We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.
To buy a directory of all Canadian Real Estate Grants at 60% discount, please go to:
http://www.flipping4profit.ca/special-services/real-estate-grants/
Special Sale Forgivable Canadian Business & Real estate Grants, Canadian Credit Repair
P.S. Success isn’t a matter of chance, it’s a matter of choice. So it’s up to you to make the right choice to become successful. If you don’t know what to do it starts with making the choice to register for this LIVE real estate investors training in your town now at www.Flipping4Profit.ca and making sure you make the right choice to SHOW UP!!! Learn more to earn more about Canadian Tax sale properties.
