Secondary Suites
Better designs, more space, extra income
A Smart Choice for Homeowners
Purchasing a new home with a secondary suite can significantly reduce your costs and help you qualify for a larger mortgage. By renting out the suite, you can generate extra income to help cover your monthly mortgage payments.
When constructing a new home, incorporating a secondary suite can be a wise and strategic choice. These suites, often referred to as in-law suites or basement suites, come with numerous benefits that can offer financial gains, improve your living experience, and positively impact the community.
What is a Secondary Suite?
According to the City of Calgary’s website, a secondary suite is a ‘self-contained residence with two or more rooms and includes a kitchen, bathroom and living and sleeping facilities’. In Calgary, this is most often seen as a ‘basement suite’ where the homeowners live on the top floors and the basement is then rented out to another tenant.
Mortgage Qualification
Owning a home with a secondary suite boosts your property’s income potential. Renting out the suite generates extra income, which can help with mortgage payments or other home expenses. This additional income can improve your chances of qualifying for a higher mortgage, as lenders consider rental income when evaluating your borrowing capacity.
Flexibility
A secondary suite provides numerous versatile living arrangements, unlocking a range of opportunities. Homebuyers often create these suites for various purposes, such as (but not limited to):
- Rental Income: Rent out the space.
- Family Use: Private space for multigenerational family members.
- Guest Accommodation: Space for out-of-town guests.
- Workspace: Home office or studio.
- Downsizing: Live in the suite and rent out the main home.
- Travel Peace of Mind: Tenant looks after the home while you’re away.
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Benefits To Renters
Secondary suites greatly increase rental housing options, especially in high-demand areas. They often include amenities like a yard, parking, and storage, which are rare in traditional apartments. Located in established neighbourhoods, these suites offer access to schools, parks, and other local amenities. This makes secondary suites a practical and appealing choice for many renters.
This is just one of our floorplans featuring a secondary suite — explore them all to find your perfect fit!
EVO 1
CRAFTSMAN FS1
Basement Suite Specifications
Side Entry Required: Option 05A.Cardel secondary suites include high-quality standard specifications for mechanical, plumbing, electrical, soundproofing, interior finishes, and appliances. For suite-specific details, contact a new home consultant.
