If you’re a homeowner in Calgary, you’ve likely heard about the City’s Secondary Suite Incentive Program. This initiative is designed to help homeowners offset the costs of creating legal and safe secondary suites, providing up to $10,000 in funding for eligible participants. Here’s everything you need to know about the program and how it can benefit you.
What Is the Secondary Suite Incentive Program?
The program offers financial support to homeowners building and registering secondary suites within their main dwelling. The primary goals are to:
Who Is Eligible?
To qualify for the program, homeowners must:
What’s Covered Under the Program?
The incentive funding can be applied to the costs associated with installing required safety elements, ensuring that the suite meets all safety and building codes. However, it’s important to note that:
The Application Process
The application process is straightforward, and the City estimates a turnaround time of 5 to 7 business days for most applications. Homeowners are encouraged to apply as soon as possible to secure funding and begin construction.
While the program provides financial assistance, it’s worth noting that constructing a secondary suite can be a significant investment. Costs often start at around $80,000, with much of the expense going toward essential but less visible components such as engineering and affidavits. Despite the cost, building a secondary suite can be a great way to generate rental income, increase your property value, and provide housing in your community.
The City of Calgary’s Secondary Suite Incentive Program is an excellent opportunity for homeowners to make their property more versatile while contributing to the city’s housing needs. If you’re considering adding a secondary suite to your home, this program could be the financial boost you need to get started.
For more information, visit the City of Calgary’s official website or contact their office directly. Don’t miss this chance to enhance your property and support safe housing in Calgary!
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