What exactly is a Secondary Suite VS an In-Law Suite?
For Dietrich Homes, a Secondary Suite, is a self-contained living space located in the basement of a single-family dwelling, which includes a Living Room, Kitchen, Bathroom and Bedroom. It will also have both a private entrance that is different from the main home’s entrance as well as another door inside the entrance, that separates the Main home from the Secondary Suite. Although it may or may not be a walkout basement, this Secondary living space will include several large egress windows for plenty of natural light as well as meeting fire codes.
An In-Law Suite is similar, in that it is also located in the basement and will have its own Kitchen and Bathroom, but the remainder of the finished space will usually be a more open concept rather than designated, Living rm and separate Bedroom. A bedroom can easily be built into the In-Law Suite once the purchasers have taken possession. An In-Law Suite will have another entrance that is different than the main home, located at the side of the home. A separate door dividing the main home from the In-Law Suite, can be easily added to the space as desired.
Advantages to Owning a Home With a Secondary or In-Law Suite
Every home purchase can potentially be one of the greatest investments any individual ever makes by virtue of the fact that real estate is a constant that typically increases in value over time .
Wise investors, whether a first-time buyer, a seasoned homeowner, or a multiple property holder, can all attest to the fact that one of the most difficult parts of the process of obtaining a new home, is in being financially approved by the Bank or Lender for their new acquisition, but they can also tell you that there is a secret that can immensely improve their success.
Homes that have a Legal Secondary Suite or an In-Law Suite have been proven to change everything in the mortgage approval process! Banks and Lenders look extremely favorably on a home purchase that includes a finished version of either of these two Suites because of the potential income that they both can immediately provide.
So, if you are looking for additional living space to house aging parents, give a helping hand to grown children, help to qualify for or pay down your own mortgage or whether you simply desire another source of excellent and steady, passive income, purchasing a home with a finished Secondary Suite or In-Law Suite included, is a very smart investment.
DIETRICH HOMES, ever the forward thinker, has begun designing every home to include either a Legal Secondary Suite or an In-Law Suite, preparing each purchaser for success by including these impressive, finished “Separate Living Spaces” in their homes, so purchasers can potentially qualify for a mortgage in any market and as well, add incredible value to their home purchase.
Make sure to check out the Luxury two storey homes, with Secondary Suites and In-Law Suites, in the “Trails of Lily Lake” subdivision, by multiple award-winning new home Builder, DIETRICH HOMES!Tags: homebuilder in Peterborough ON, new homes for sale in Peterborough ON, new homes in Peterborough ON
This post was written by Dietrich Homes