Adding an income suite or rental unit is the single biggest way to increase the value of your home and generate cash flow. Getting it right the first time is essential to ensure your new income suite is a money-maker, and is also legal, safe, and a place that your tenants will love and want to stay.
Putting in an income suite, whether it's in your basement, or anywhere else on the property, has some big advantages. Shows like HGTV's 'income property' has helped people understand what building and owning an income suite entails, and how it can benefit them.
Great reasons for putting in an income suite / rental unit are:
It helps with mortgage payments.
It increases the value of your home.
It has the biggest return on investment (ROI) than any other home renovation project.
You can pay off your mortgage is half the time by applying the rent to the mortgage.
It can supplement an income during maternity leave or during a time of unemployment.
It provides someone to share the utility bills and property maintenance costs.
There are lots of tax incentives and government grants to help pay for the work.
It's a great way of making more money!
There are however, strict rules and building codes that must be adhered to which are in place to protect you, your home and your tenants, and our team will help guide you through the process smoothly, ensuring your income suite is up-to-code and fully insured.
Our design team knows what people desire in an income suite, and what will get you the best return on your investment, month after month, year after year.
Building a safe, comfortable and profitable income suite involves careful planning, design, material selection and construction techniques, and we know how to do this.
Contact us today and book a free consultation with one of our team to discuss whether putting in an income suite is right for you.