With a growing trend toward Secondary Suites in the Peterborough area, Classic Construction offers full design build services. Also referred as In-Law Suites, Second Units, Accessory Apartments or Basement Apartments, these additions renovations can offer many benefits to a variety of home owners.
First-time home owners are able to purchase homes in the competitive Peterborough real estate market with the addition of rental income. Families can reduce monthly housing expenses while retired home owners can supplement fixed incomes through rental income. No matter the reason, a well designed, legally conforming, attractive separate living space/apartment can increase the resale value of your home.
The Strong Communities through Affordable Housing Act requires municipalities to amend their planning act to include building code standards for these units. However, if not built properly, a basement apartment can create significant legal expense as tenants are entitled to repayment of rent and moving expenses while they locate suitable accommodations. It’s critical that any secondary suite in Peterborough be built to meet the municipal requirements.
Given the current low interest rates, most in-law suite building projects will present a positive cash flow, even when financed, assuring homeowners ‘peace of mind’ income.
At Classic Construction, we are expert in local building codes and will work with you to design and build a beautiful secondary suite that meets or exceeds current building code standards.