The Benefits of Garden Suites: Beyond a Home Addition

The Benefits of Garden Suites: Beyond a Home Addition

Nowadays, finding a place to live for less than several hundred thousand dollars is tough. Builders and investors have always sought novel strategies to augment the housing stock and deliver affordable, long-term alternatives. Garden suites are one of the safest yet most reasonable strategies that are becoming increasingly appealing to Canadians.

In simple terms, a garden suite or granny flat is a self-contained residential unit located on a property. It can be rented out to tenants to generate additional monthly income for the homeowner, or it can be used to provide a separate living space for visiting family members, such as elderly grandparents, instead of renting out the unit. Garden suites have become an increasingly popular and affordable option for homeowners and investors looking to expand their housing options.

The suite’s location in the backyard makes it an ideal solution for those who value proximity to family while also valuing their privacy. They can be used by students and young workers if possible since they are compact and convenient.

Garden suites are considered whole smart flats since they are required to have a bathroom, bedroom, living area, and kitchenette to be properly classified as such. Despite being more compact, they are fully functional living spaces. Typically, these additional living quarters are built as separate single or two-story units and are located in the backyard of the primary residence to which they are attached, making them independent units.

However, everyone has their own preferences, and some may prefer a different type of housing arrangement. On the other hand, many individuals who advocate for affordable housing and urban planning experts see garden suites as a crucial element in expanding housing options for urban residents.

However, their marketability and earning potential are significantly boosted only if the designs, configurations, and structures comply with the bylaws. When implemented correctly, this innovative approach to the current housing shortage offers a fresh take on conventional multi-family structures, making garden suites a viable and attractive alternative for homeowners and investors alike.

In early 2022, the city of Toronto gave the green light for the construction of garden suites. This is a welcome addition to the city’s real estate market as it has the potential to increase both the volume and affordability of housing. The rental market as a whole stand to benefit from having more reasonably priced housing alternatives.

Let’s examine the current scenario, where high housing prices are forcing many short-term and long-term workers to move further away from the city. This makes it more challenging for them to find transportation to get to their jobs and limits their ability to explore other career opportunities. Affordable Garden Suites provide a solution to this problem without causing financial strain.

Real estate is less of a worry at this affordable price bracket, as prices have remained stable despite a slowdown in sales, as buyers hold out for better value. The inclusion of a separate garden studio suite in a home of this price range is sure to pique the interest of prospective purchasers, as it showcases investment attractiveness and aesthetic appeal in a sensible manner.

Installing a beautiful, aesthetically pleasing garden structure made from eco-friendly resources can increase the value of your home while also saving on heating and cooling costs. This not only makes financial sense but also appeals to those who want to make a smaller environmental footprint and boost their personal credibility.

The tangible impact of having a quiet and private space to call one’s own can do wonders for one’s mental health, boost creativity, and prepare individuals for greater success in their professional or charitable endeavors.

On the other hand, if you want to be certain that the garden suite designer will deliver the job you envisioned and stand behind their work for the long term, it’s advisable to request unrestricted access to them.

One of the major benefits of having a garden suite is the increased privacy it provides for both the landlord and tenant. Since the suite is detached from the main home, there are no shared walls or doors to allow noise to travel between the two spaces. And while renting out the suite can certainly boost the value of your property, it’s not a requirement to enjoy the benefits of having one.

Having garden suites in your house can give you an advantage over other homes for sale, as prospective buyers will find them quite enticing – it’s like a cherry on top. This is especially beneficial for growing communities with limited land, as tenants can have their own private space, unlike in a multi-family dwelling where they have to share common areas.

In addition to the advantages for landlords and tenants, garden suites can also contribute to creating more stable and sustainable communities while promoting urban development. With the flexibility of their use, garden suites are widely considered a practical solution to the issue of affordable housing. They can be utilized for a variety of purposes, and building one tailored to your specific needs and preferences can be a great investment. However, it is important to check local regulations and ensure that building a garden suite is allowed in your area.