Secondary suites are becoming more and more popular in the city of Calgary. It is a great option for those looking to earn some rental income using either the property they live on, or other revenue property they own.
The City of Calgary is encouraging secondary suites of all kinds in their desire to increase population density.
With this project, our clients wanted to build a backyard suite on a rental property they already owned in order to double the rental income from it. They decided to build a three car garage with a suite over top to achieve this.
The project provided an 800 sqft, two bedroom suite with laundry facilities and a 295 sqft single car garage for the tenant.
It also created a 505 sqft double car garage for the renters of the current home. This garage space can also be rented separately to increase revenues even further.
The schedule was quite fast, with the design and permitting taking 3 months (including the development permit), and the construction taking 5 months (including the demolition of the existing garage).
The project came in under budget with the design, permitting, demolition of existing garage and construction costing $190,000 + GST.
Our client secured a tenant two weeks before the construction was complete at a rental rate of around $1500/month.
If you are considering adding a secondary suite, contact us for a free consultation so that we can help ensure your project is also a success!
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