Build Your Garage Suite

Garage suite is a form of accessory suite. A garage suite is a small home above a garage or attached to it. It has its own door, separate from the vehicle entrance and has a kitchen, bed and bathroom separate from the principal home. 

Garage suites or backyard suites are becoming increasingly popular as investment properties in Calgary and surrounding area.

They offer a number of advantages, including:

• Increased income: Garage suites can provide a significant source of additional income. In Calgary, the average rental rate for a one-bedroom garage suite is over $1,000 per month.
• Appreciation potential: Garage suites are expected to appreciate in value over time, just like any other type of real estate. This is because the demand for rental housing is increasing, and the supply of garage suites is limited.
• Tax benefits: There are a number of tax benefits associated with owning a garage suite. For example, you can deduct the expenses associated with renting out your garage suite, such as property taxes, mortgage interest, and repairs.
• Flexibility: Garage suites offer a great deal of flexibility in terms of how you use them. You can rent them out to tenants, use them as a home office, or even live in them yourself if you need to move out of your main home for a period of time.