Find your dream Calgary home with a secondary suite
Discover your ideal Calgary home with basement suites—an excellent option for added living space, rental potential, and privacy. From various architectural styles to energy-efficient designs, these homes cater to individuals, couples, and families alike. Browse our listings below and find the perfect fit. For more information or to schedule a viewing, contact the Tiwana Real Estate Team today.
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Are You Planning to Buy or Sell a Suited Home in Calgary?
What is a Suited Home?
A suited home is essentially a single-family home that contains more than one self-contained living area. The most common type is a basement suite , but it can also refer to homes with additional units above ground level, garage suites, or even coach houses. The secondary suite is typically designed to be rented out, offering homeowners a chance to generate rental income or house family members. Suited homes are increasingly popular in Calgary due to the city’s growing rental demand and high real estate prices. By adding a secondary suite to a property, homeowners can maximize the use of space while offsetting some of their housing costs. The suites can be classified into two categories: legal and illegal . Understanding these classifications is crucial for anyone looking to buy a suited home in Calgary.
Key Characteristics
Multiple Living Spaces
A suited home is designed to include at least two distinct living spaces: the main living area for the homeowner and an additional suite. This suite often has its own entrance, kitchen, bathroom, and sleeping area.
Separate Utilities
Many suited homes are equipped with separate utilities for the suite and the main home, allowing both spaces to function independently. This could mean separate water, gas, or electricity meters, or it could involve sub-metering to track individual consumption.
Independent Entrances
A suited home will typically feature independent access to both the main living area and the suite, ensuring tenants or occupants of the secondary suite have privacy and autonomy.
Parking
In many cases, a suited home will offer off-street parking to accommodate both the homeowner and their tenants. Adequate parking is essential, especially in urban areas like Calgary, where on-street parking can be limited.
Zoning Compliance
Calgary's zoning regulations dictate where secondary suites are permitted. Some areas may allow for a suite in a single-family home, while others may restrict or prohibit their construction.
The Benefits of Buying a Suited Home in Calgary
Generate Rental Income
The most obvious benefit of a suited home is the ability to generate rental income. By renting out the secondary suite, you can offset a portion of your mortgage payment, lower your overall housing expenses, or even earn a profit. In Calgary, the demand for rental properties remains strong, particularly in neighborhoods close to downtown or transit hubs, making it a solid investment for rental income.
Increased Property Value
A legal secondary suite can increase the overall value of your property. Homes with legal suites are often in high demand, especially among buyers who are looking for a property that can generate income. This makes suited homes an attractive investment option, as they often have higher resale values compared to homes without secondary suites.
Long-Term Investment Potential
As Calgary’s real estate market continues to evolve, owning a suited home offers long-term investment potential. In addition to rental income, your property may appreciate over time, allowing you to build equity. Furthermore, if the zoning laws change in the future, you may have the option to develop the property further, such as by converting the suite into a separate legal unit or developing additional units.
Whether you’re an investor or a homeowner looking to offset housing costs, there are significant benefits to purchasing a suited home in Calgary, particularly if the suite is legal.
Flexibility in Use
Owning a suited home gives you flexibility. You could rent out the suite, house family members, use the space as a home office, or even convert it into a guest suite. This flexibility allows homeowners to adapt their property to changing needs over time.
Tax Benefits
Renting out a secondary suite can provide tax advantages. As a landlord, you may be eligible for deductions on expenses such as maintenance, utilities, property taxes, and insurance. Be sure to consult with a tax professional to fully understand the potential tax benefits and obligations of owning a rental property.
Legal vs. Illegal Suites in Calgary
The distinction between legal and illegal suites is one of the most important aspects to understand when buying a suited home in Calgary. The legal status of a suite can significantly impact your investment and future plans for the property.
Legal Suites
A legal suite in Calgary meets all city regulations and is officially recognized by the city. To be considered a legal suite, the following criteria must be met:
Proper Permits
The suite must have received the necessary building permits and inspections from the City of Calgary. This ensures that it complies with safety standards and zoning regulations.
Zoning
The property must be in a zone that allows secondary suites. Calgary has specific zoning districts that permit or restrict the creation of secondary suites, so checking the zoning is critical before purchasing a home.
Safety Standards
A legal suite must meet safety standards such as proper fire exits, smoke detectors, and carbon monoxide detectors. Adequate ventilation and insulation are also necessary to ensure the suite is safe for tenants.
Separate Utilities
Minimum Space Requirements
Illegal Suites
An illegal suite does not meet the city’s standards or zoning regulations, and it has not been approved by the proper authorities. These suites are often created without the necessary permits or fail to meet safety codes. The risks of buying a home with an illegal suite are significant:
Fines and Demolition Orders
The City of Calgary can issue fines or order the removal of an illegal suite if it does not meet safety or zoning requirements. This can be a costly and disruptive process for homeowners.
Insurance Issues
Many insurance policies will not cover properties with illegal suites, leaving homeowners vulnerable to financial loss in case of fire, theft, or other damages.
Rental Restrictions
Renting out an illegal suite could be problematic if the city discovers the suite doesn’t meet regulations. Homeowners may be forced to evict tenants or face penalties for renting out an unapproved unit.
Safety Hazards
Illegal suites are often built without the necessary safety measures (e.g., emergency exits, fire safety measures), which could put tenants at risk and expose the homeowner to legal liability.
Ventilation and Health Concerns
Illegal basement suites frequently share the same ventilation system with the main living area, which can cause odors, moisture, and potentially hazardous materials to circulate between floors. This setup often leads to poor air quality in the basement, posing health risks for basement occupants and affecting the overall air quality for the entire home.
When purchasing a suited home, ensure that the suite complies with Calgary’s zoning regulations, safety standards, and permit requirements. By choosing a legal suited home, you can maximize the potential of your investment while ensuring that you meet all legal and safety obligations.
If you’re interested in exploring suited homes in Calgary, work with a qualified real estate agent who understands the local market and zoning laws to help you find a property that meets your needs and investment goals.