First-time home buyer? Find out how an in-law suite can help you qualify for a mortgage.

Do any of these sound like you?

The Income Series provides a creative way to get your foot in the door…. and it could be that investment that sets you up for life. In fact, we have designed three different models that include beautiful basement apartments with separate entrances – the perfect in-law suite.

Using your in-law suite as an income property will help you with your home purchase. In times of higher interest rates and downpayment requirements, you can present the income-generating potential of your new build to your mortgage broker. Having this additional income stream will offset your monthly mortgage payment and can help get your mortgage approved.

We had the opportunity to sit down with mortgage agent Andrew Walters to discuss our “Income Series” line-up of homes, through the lens of a first-time home buyer.

As the Ottawa housing market keeps rising, so does the appeal of having an in-law suite in your home. Future buyers will appreciate the option of earning extra income from the legal basement apartment. An in-law suite can make your home stand out from the rest and increase its worth. 

Life is full of surprises, and you never know when a family member may need a place to stay. From aging or sick parents to a friend who is visiting, or a grown-up child facing a divorce or maybe starting a new career, having a basement apartment in your home can be a great way to support your loved ones. A private basement apartment may become a beautiful gift of support without feeling like an intrusion on your personal space.

Converting your conventional basement into a secondary dwelling is not as simple as adding some kitchen cupboards. In fact, there are countless regulations to follow when building a legal rental apartment and that means paying for architectural drawings, inspections, and building permits. As the saying goes, “renovations always cost twice as much and take three times as long” as planned, so it’s best to just get the apartment put in as your new build is going up.

As an aside, when we build your home, we will take care of all of the permits and ensure that a secondary dwelling of that size and configuration is legal on that lot. On the other hand, trying to retrofit an apartment into an existing home, you may find that zoning bylaws have changed and you are not able to carry out your plans.

While there are many homes with in-law suites for sale in Ottawa, it’s important to know that our basement apartments are built to all secondary dwelling unit standards from the Ontario Building Code and the City of Ottawa. Verifying that an older home with a retrofitted in-law suite may prove to be more costly than building new.

All our models meet or exceed electrical, plumbing, insulation, and fire code requirements. No corners have been cut, which means, you can legally rent out the unit. Whether your tenants are renters or family, you can be sure that they will be safe and comfortable living there.

If you’re ready to build your new home, check out any of our 3 thoughtfully designed floorplans available in our Income Series.