Enjoy the Suite Life and Save Your Money 2018-04-23T22:59:17+00:00

Enjoy the Suite Life and Save Your Money

What will you do with the money you save on a monthy basis?

Adding a secondary suite to your brand new home will cost you less than you think, and you can take advantage of lowering your monthly payment. Plus there are additional benefits to owning a home with a secondary suite. See them below:

Top 6 Reasons to own a Suited home

Cash Savings: If you are living in the property as your primary residence, you can help offset your Mortgage costs.  For example, if your mortgage payment is $2,230/ month and you have a tenant in the suite paying $1,250 your payment drops by almost $1,000/ month!  This is a direct cash savings in your pocket! In many cases your monthly payment will be significantly less than what you would pay if you were renting (see analysis below).

Mortgage Qualification Support:  Income from the secondary suite may help in your ability to qualify for your mortgage, and you may be able to afford a bigger home.

Keep the Family Close: If you living in the property and you wanted to have a space for a family member a suited home is a great way to create a separate living space keeping your family close. . . but not too close

Cost per Unit Savings: On a cost-per-unit basis Suited Homes have a lower cost than buying two separate homes

Budget Friendly Rental Option:  You will be providing a much needed service to people looking for a brand new high end rental property, for people on a budget.

Boost Your Resale Value:  A home with a revenue helper are sought after properties.  The extra Renovated/finished space and secondary income will make your home a ‘hot property’ when it comes time to exit.

*The above financial calculations are examples created for demonstration purposes only. Certain inferences have been made.

Please contact a TriUrban expert and mortgage professional for more information.

Enjoy the Suite Life
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*The above financial calculations are examples created for demonstration purposes only. Certain inferences have been made.

Please contact a TriUrban expert and mortgage professional for more information.