With affordable housing in Barrie quickly becoming scarce, the County of Simcoe is stepping in to offer a solution. The county has launched a program called Secondary Suites, which offers money for homeowners to convert basements into rental units. Read the full...
Looking for another way to generate income? Consider installing an income suite (basement, apartment, upstairs flat) in your home. The rent can help you pay off your mortgage and provide a cushion if you ever lose your job. Scott McGillivray, real-estate entrepreneur...
It was more accident than intention that led Anni Jansson to buy her first investment property in the growing Calgary suburb of Airdrie, Alta., in 2006. Ms. Jansson, 39, had planned to live in the three-bedroom townhouse herself, but fate intervened when she met...
With affordability being as tough as it is in today’s market, basement income means more than ever before. $600 per month? Think about how much mortgage that carries… I wrote an article for The Grid last year where I said I wasn't a huge fan of basement rental units....
The market for houses with basement apartments may get a little hotter. CMHC has announced it will allow 100% of the rental income from legal secondary suites to be used when qualifying for a mortgage. Currently it allows 50%. Read more at Canadian Mortgage...
When my husband and I were shopping for a home, a basement apartment seemed like a no-brainer. House prices in downtown Toronto were already sky-high, so we loved the idea of someone paying us $800 a month to live in a space we could do without. We knew we’d have to...
Second suites, also known as accessory apartments, granny flats, or in-law suites were legalized by the Ontario Municipal Board and are legal in all single family and semi-detached homes, provided they meet certain criteria. Read the rest of the Toronto Sun article
In another decade, renting will no longer be a dirty work when it comes to housing in the Toronto region, predicts a researcher who has looked at housing markets in Europe and Australia. Read more at thestar.com
A Second Suite is more than just a basement unit. Second Suites are found in many different areas of a home or building.Download and print the poster.
Detailed information on the financial considerations for Second Suite owners. The Financial Considerations Guide contains information about the financial benefits and challenges of owning and...