Tips for Getting Started: Is it legal? Make sure the by-laws in your area allow for a rental space. Is there a separate entrance? It can cost about $10,000 to add one. How high is the ceiling in the basement? If not high enough you'll have to lower the floor and this can be a big expense. Pros, Pros and More Pros: Having a rental unit works in any economy and every market. If you do it right, it is never a waste of money. Having a rental suite is the biggest return on your real estate investment! Other returns include: Paint = 250% return! Kitchens Bathrooms Flooring Fixtures (door handles and light fixtures) Do it Right! Make sure everything you are doing is safe and legal. People o
The downturn in the real estate market has more homeowners choosing to stay put for the time being, determined on improving their current home rather than moving to a new one. Calgary renovators say there’s been a noticeable pickup in activity. “It’s gone up,” said Paul Klassen, owner of Pinnacle Group Ltd., a Calgary renovator. “We hired three new staff members over the last three months to keep up with demand, while other industries were laying off.” A study last month by Altus Group said renovation spending in Alberta last year totalled $7.6-billion – a 3.7-per-cent increase from the year before. Renovation spending was forecast to rise by 2.6 per cent this year and 3.8 per cent next year
Owning a home in Calgary at market price remains more affordable than it has been on average since the middle of the 1980s, says a new report released Monday by RBC Economics Research. But the latest Housing Trends and Affordability Report said movements in oil prices are likely to exert a stronger influence on the market direction in the short term. “Alberta’s housing market is still feeling the impact from the oil price shock,” said Craig Wright, senior vice-president and chief economist, RBC. “That said, the dust began to settle this spring, and we saw a gradual recovery in confidence, which helped rebalance demand-supply conditions. Home re-sales started to turn around, and sellers no lo
StreetSide Developments has entered a new era as a home builder with the launch of its townhome project in the Killarney neighbourhood in southwest Calgary. “The Killarney Townes project is an exciting new venture for StreetSide, taking us into the luxury infill market,” says Kimberley Orr, senior marketing co-ordinator for StreetSide Developments. “Our latest offering features fourplex townhome plans that look like one large infill home, which has been meticulously crafted to integrate seamlessly into the surrounding community.” A showhome, the 1,889-sq.-ft. Skye, with three bedrooms and underdrive garage, is now open, says Richard Daley, vice-president, multi-family at StreetSide. “StreetS
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