UNLOCK THE POTENTIAL OF YOUR PROPERTY WITH A NEW ADU

As homeowners search for new ways to get the most value out of their existing properties, ADUs have taken the market by storm as an affordable way to add sustainable density and passive income to your land. You can transform your property into a reliable investment, or create additional living spaces all while increasing the overall value.

Their popularity has also grown in recent years as an alternative for multigenerational households and the country’s need for housing. This year, in an effort to rectify the need for affordable housing, the Federal Government has announced an incredible program to make owning an ADU more affordable than ever (more on this below).

WHAT IS AN ADU?

An ADU, or “Accessory Dwelling Unit”, is a completely separate structure from the primary residence—or “dwelling”—on the property. The result is a property with two residences on it, adding density to established low-rise neighbourhoods in a responsible, sustainable manner.

It works the same way as a basement apartment would, with a completely separate bedroom, bathroom, kitchen, and living space. But by being detached from your primary residence, there are no shared walls, and both dwellings enjoy their own privacy and independence.

IS AN ADU WORTH THE INVESTMENT?

Short answer: yes! Not only does an ADU boost the property value of your home, but their flexibility and convenience can dramatically improve how well your property works for your lifestyle.

Turn your land into a valuable asset.

Let’s break down the 5 biggest benefits:

1. MULTIGENERATIONAL LIVING

With housing prices and interest rates making it more difficult than ever for Canadians to afford property, more and more often aging parents and adult children are all under one roof, with as many as three generations of adults sharing a home.

An ADU can provide your children with a place to grow into their own independence without the cost of moving away from home, or give retired parents and grandparents a comfortable place to live without giving up on their own agency. But most important of all, by sharing a property, the family stays together, with assistance and community always close at hand.

2. PASSIVE INCOME

It may be one of the most obvious benefits of an ADU, but it’s also one of the biggest impacts. When you add an ADU to your land, you have the potential to generate additional income while increasing the overall value of your property.

With ADUs being fully detached from your primary residence, they can comfortably rent for more than a standard basement apartment. And with some even offering 2 bedrooms, it’s the same as—or better than—owning and leasing a 2-bedroom condo unit.

Not only does this add extra income for a more comfortable lifestyle, but over time, completely offsets the cost of the initial investment.

3. LOW-IMPACT CONSTRUCTION

While many people consider adding a secondary suite to their home by renovating their basement, the construction within one’s own home can be incredibly disruptive to your life. The process of adding a separate entrance above grade, adding or removing walls, and even doing plumbing and electrical can all become a nuisance—especially for those who work from home.

Being separate from your home, an ADU’s construction or installation may create some noise outside, but the process does not otherwise impact your home. With no clutter, dust, debris, or contractors inside your primary residence, it’s an optimal way to maximize the potential of your property.

4. SUSTAINABILITY AND DENSITY

It’s no secret that Canada needs more housing. As we mentioned before, ADUs add density in a unique manner—by enhancing the number of residences available within a low-rise neighbourhood without demolishing existing homes to build new townhomes or condos, density increases in a way that requires less impact on the environment, less construction materials and costs, and less impact on the neighbourhood as a whole.

After all, mature neighbourhoods are typically only suited to the existing density. Adding developments like condos can create an influx that local schools, services, and transit aren’t prepared to handle right away. ADUs create the perfect balance.

5. PROPERTY VALUE

For potential income and multigenerational families alone, ADUs are becoming more and more desirable to homebuyers across the country.

So it shouldn’t come as a shock to find out that adding an ADU to your property can increase its value by as much as 20-30%.

This boost to the resale value of your home is an incredible benefit, most often recouping your investment, and then some.

IS MY PROPERTY APPLICABLE FOR AN ADU?

Finding out whether your land can support an ADU can be confusing. Depending on your municipality, site servicing, lot size, and other specifications, you may or may not be able to add a dwelling to your property. To find out if your property applies, you will have to contact your municipality to inquire about regulations for your specific address.

However, Quality Homes has been assisting our customers in navigating permits, zoning, and bylaws for decades. We can help put you on the right track, with expert advice on how to get the information you need to start your new ADU journey.

HOW TO FINANCE AN ADU

Similar to buying or building any new home, financing an ADU can be a complex process that starts with your mortgage lender. But with the Canadian government’s efforts to increase housing density and affordability, the Canada Secondary Suite Loan Program has been boosted to make it even easier to finance secondary suites in the 2024 Fall Economic Statement.

This increase doubles the loan limit for a secondary suite, whether it’s an ADU, basement apartment, or laneway home. Now homeowners can secure a loan up to $80,000 for 15 years, with only a 2% interest rate! This program will unlock an incredible opportunity for homeowners across the country.

A FASTER, BETTER ADU

Leaders in the modular homebuilding industry for over 35 years, Quality Homes has the art of building down to a science. And in 2023, we released The Suite Collection, our take on the ADU.

But what makes The Suite Collection different from other units? By building indoors in a state-of-the-art factory, Quality Homes’ Suites are protected from the elements for every step of the building process, keeping them safe from inclement weather and allowing for construction to continue no matter the forecast. Not only that, but our streamlined construction process doesn’t face labour or supply shortages in the same way that site-built ADUs may.

The biggest benefits, however, are the speed, quality, and reliability of our building process. Unlike many ADUs, a Quality Homes Suite is fully CSA-certified, and registered for a full Tarion Warranty. And with our streamlined assembly line construction methods, a Suite can be completed in-house in just two months, with a guaranteed delivery date agreed upon when signing.

In fact, the Town of Collingwood has even chosen one of our Suites to feature as one of their pre-approved ADUs! That means that they have looked at the specs and given residents the seal of approval to purchase The Foxboro B for their properties, without needing extra permitting. But it also means that the quality, efficiency, and style of our Suite Collection has been officially approved, meeting and exceeding municipal regulations.

DISCOVER OUR SUITE COLLECTION
Small Homes. Big Possibilities.

Interested in unlocking the potential of your property with an ADU? Take a virtual tour of our Suite Collection today, see them in person by visiting our Kenilworth Sales & Decor Centre, or contact our team directly to learn more.

CONTACT US:

1. Send us a message online: click here
2. Give us a call: 1-800-265-2648
3. Send us an email: info@qualityhomes.ca