If you're a homeowner in Calgary looking to add more value to your property or generate extra income, you might want to consider developing a secondary suite. This may include developing an unfinished basement or legalizing an existing suite that is not quite up to code. The City of Calgary has introduced the Secondary Suite Incentive Program to encourage homeowners to create legal secondary suites. But what exactly is this program, and how can it benefit you?

Starting January 2025, homeowners can access $80,000 in low-interest loans (2% over 15 years) to build income-generating secondary suites. New refinancing rules will also allow insured mortgages up to 90% of post-renovation value with extended 30-year terms, making suite development more affordable and achievable.

Boost your property value, create rental income, and help tackle Canada’s housing shortage. Start planning now!

Discover how developing a legal basement suite in Calgary can boost your property’s value, provide rental income, and contribute to community housing needs. Learn about the costs involved, key considerations, and how Notorious Suites can help you maximize your investment with expert guidance and support.

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Discover the crucial differences between legal and illegal suites in Calgary, and learn why compliance with building codes ensures safe, livable housing solutions amidst the city's housing crisis.