Podcast Episode 101:
“Deep Diligence Saves
Half A Million Dollars!”
I heard from a Calgary investor recently about dodging an expensive bullet.
Houses with legal suites or houses zoned for legal suites are all the rage in Alberta. What’s not to like about adding a secondary suite to a single-family home effectively turning it into a duplex with amazing positive cash flow? Everyone likes that. Tougher to do in Calgary, though. I hate to say it, our Calgary cousins are not nearly as advanced as we Edmontonians on the secondary suite issue. The City of Edmonton has amended bylaws to allow secondary suites all over the city and in most zoning situations.
City of Calgary, not so much. In Calgary, secondary suites are only allowed in certain areas. Calgary City Council is divided on whether to expand the areas where they allow secondary suites.