If you’ve been considering developing a secondary suite in your Calgary home, now might be the perfect time. The City of Calgary is taking steps to make it easier and more affordable for homeowners to build and register secondary suites. Here’s everything you need to know about the new incentives and how The Basement Renovators can help you take advantage of these opportunities.
City of Calgary’s Secondary Suite Incentive Program
The City of Calgary committee recently voted to move forward with a program designed to encourage the building and registration of secondary suites as part of the city’s broader housing strategy. This program offers financial incentives to qualified homeowners to help offset the costs of developing and registering secondary suites.
Key Incentives Include:
- Up to $10,000 for Registration: Qualified homeowners can receive up to $10,000 to register their secondary suite.
- Additional $5,000 for Accessibility: An extra $5,000 may be awarded for suites that meet accessibility standards.
- Extra $1,250 for Energy Efficiency: Homeowners can receive an additional $1,250 for making energy efficiency improvements to their suites.
The program is expected to fund up to 3,000 suites in its first year, making it a significant opportunity for homeowners looking to maximize their property’s potential.
What Qualifies as a Secondary Suite?
Under this program, only secondary suites are eligible for funding. These include self-contained units within a primary residence, such as basement suites. It’s important to note that backyard suites or laneway homes do not qualify for this funding at this time.
Benefits of Developing a Secondary Suite
**1. Increased Property Value: Adding a secondary suite can significantly boost your home’s market value by providing additional living space.
**2. Rental Income: Secondary suites can provide a steady stream of rental income, helping to offset mortgage costs or other expenses. **3. Housing Flexibility: Secondary suites offer flexible housing options for family members or tenants, making your home more adaptable to changing needs.
How The Basement Renovators Can Help
At The Basement Renovators, we specialize in Calgary basement development and can guide you through the process of creating a compliant, comfortable, and attractive secondary suite. Our services include:
- Design and Planning: We work with you to design a suite that meets your needs and complies with all city regulations.
- Construction and Renovation: Our experienced team handles all aspects of the build, ensuring high-quality workmanship.
- Permit Assistance: We help you navigate the permit process, ensuring your suite is registered correctly and efficiently.
With the new incentives available, now is the ideal time to consider developing a secondary suite in your home. Contact The Basement Renovators today to learn more about how we can help you take advantage of these opportunities.
Visit our website for more information on secondary suites in Calgary: The Basement Renovators – Secondary Suites
References:
- City of Calgary news on the secondary suite incentive program
- Information on basement development and secondary suites in Calgary
