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Updated over 3 years ago on . Most recent reply

Rental Property in Calgary?
I am having a dilemma here and in need to have different perspectives on this so I can make a better judgement call. I am planning purchasing a Single family rental property in Calgary (more specifically, Airdrie). Here's the dilemma:
In Calgary, there are a lot of illegal 2nd suite units (basements), but that's not something I want to do. Not only it costs about 30k to complete the basement, the illegality of it risks the chance of being reported by the neighbors ($$ fine). However, by doing so, I can increase my rent/total value from about 0.5% to 0.7-8% (which is not bad in the area). I also think by renting it to one family is better in terms of living quality, hence a better market. But again...I'll be losing at least $500 monthly cash flow if I rent it to one family.
What do you think/know? Thanks in advance :)!
Most Popular Reply

Your idea is brilliant! Thanks for sharing that, it'll definitely minimize the parking dispute.
In Calgary, unfortunately they sell duplexes as individual housing units. So I'll be paying for the price of 2 SFH for a duplex. They usually split them into upper floors and basement to make a SFH into a duplex.
Although pricing on the duplex is lower than a detached SFH, but to buy both together it'll cost about 1.5 - 1.75 times more than a detached SFH.