Why Buy a Home with a Suited Basement?

#1 – Rental Income – the most apparent reason to buy a house with a basement suite in Calgary is to generate additional income by renting it out to a tenant, helping to offset mortgage payments and other costs associated with owning a property.

#2 – Increased Value – the income-generating capabilities of homes with secondary suites for sale typically afford them a higher market value compared to those without, making them an ideal investment. This added appeal not only elevates its market value, but is also an asset when it comes to reselling the property.

#3 – Multi-Generational Living – homeowners who have relatives in need of assisted living benefit from having a basement suite. This allows caretakers to stay close while ensuring privacy and independence for adult children, aging parents, or other family members.

#4 – Additional Living Space – The flexibility of having a fully functional suited basement in your home can be valuable in many instances; use it to house visiting family members from out of town, while maintaining a level of privacy often appreciated between loved ones.

#5 – Advantageous City Programs – In a push to add as much housing as possible to accommodate an exploding population, the City of Calgary has a variety of programs for homeowners with a basement suite including financial incentives, and more.

Legal Basement Suites

A legal basement suites is any suite that conforms to the city’s guidelines. For example, legal suites have their own kitchen, entranceway, power panel, proper fire-rated separation from the other unit (typically with Type X firewall or another means of fire-rating), furnace, own hot water tank, among other bylaws set forth by the city.

Illegal Basement Suites

An illegal basement suite is any suite that was built not following the city’s guidelines or was built in an area without proper zoning. For example, if your suite does not have its own power panel or separate entryway, then it is likely not a legal suite.

Supplement Your Lifestyle with a Basement Suite

It is worth your while to determine what kind of basement suite a property has before signing on the dotted line. For example, is the basement suite legal or illegal (see above), and how will that affect your investment goals?

Basement suites in Calgary are a great way to supplement your lifestyle by generating a secondary income stream. With increasing rental prices over the years, it is extremely advantageous to own a home with two residential dwellings – one up, and one down.

Keep in mind that there are some technicalities with buying/owning a house for sale in Calgary with a basement suite, such as the separation requirements to make it legal including fire-rating drywall, having its own electrical panel/furnace/water tank, and stair access, to name a few.

If you’re browsing basement suite houses for sale in Calgary and want to know if the secondary living space is considered legal/illegal, we would be happy to answer that question for you! Don’t hesitate to call us anytime; our team of professional Realtors® will be happy to help.

Calgary Secondary Suite Real Estate Experts

As a top-producing team with RE/MAX House of Real Estate, our Realtors® have helped countless clients buy and sell homes with basement suites in the Calgary Metropolitan Area.

If you have questions about an MLS® listing or would like to help us aid you in your search for basement suite houses for sale, don’t hesitate to contact us anytime at 403.519.0495 and we will be more than happy to assist you!