In August the City of Edmonton updated their Secondary Suite zoning bylaws, making it easier for property owners to add a secondary suite to their property. The city expects to see 500 new legal suites in duplex homes, 600 in row-houses and about 550 in homes on small lots around the city, which has greatly increased interest for Secondary Suites in Edmonton’s Real Estate market. Here are the top 3 reasons you should consider adding a secondary suite to your home Income Properties Adding a secondary suite to your property adds a new income stream, increasing your monthly income without requiring more of your time or effort. This money can easily go towards paying down your mortgage, building up your savings or even paying off debt. The decision to build a secondary suite on your property could mean extra money every month for years to come. What would you do with an extra $1000 a month? Higher Resale Value Adding a legal secondary suite to your house is a fantastic way to automatically increase the value of your home. Not only will your property sell for more, but houses that come with the potential for extra income are becoming increasingly popular so they rarely stay on the market for long. City Grants Did you know the city of Edmonton will match up to $20,000 to help you get your secondary suite built? This makes it easier than ever to become a landlord or add a property to your portfolio. Read up on the details and requirements for Edmonton’s Secondary Suite Grants Here Building your Secondary Suite The biggest challenge is actually building your secondary suite. It often involves expansions, renovations, modifications or home additions in order to make a legal secondary suite, that’s safe and up to code. Partnering with a professional home renovations contractor can make all the difference and give you the peace of mind knowing everything was done properly and safely. If you are considering developing a secondary suite you should contact a professional contractor to do the work, renovating your home could uncover hidden problems like wiring or electrical issues, having a professional to guide you through the process can make or break or Secondary Suite project. Posted by Liv Real Estate on

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2 Responses to Top 3 Reasons to Add a Secondary Suite to Your Property in Edmonton

I clicked on the city of Edmonton link.
This is what it showed:

The page you requested could not be found.

Posted by GM on Tuesday, October 30th, 2018 at 6:54am

Thanks for pointing that out, here is the link: https://www.edmonton.ca/residential_neighbourhoods/grants-and-funding-secondary-garden-suites.aspx

I'll also correct the link on the old post.

Posted by Sara MacLennan on Wednesday, October 31st, 2018 at 6:21am

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