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Dual occupancy in Calgary suburb was a nightmare, glad I bought the single family instead
I looked at a duplex in Airdrie last June, seemed like a steal at $450k with a basement suite. The city had zoning for it and everything. But I sat down and figured out the utilities, property tax bump, and the headache of sharing a wall for the rest of my life. Ended up paying $490k for a detached bungalow in the same neighborhood. Three months in, my neighbor's tenant started a loud hobby shop and I got to just close my window and ignore it. Anyone else pass on a legal suite and feel like they dodged a bullet?
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troy_sanchez82d ago
Did you run the numbers on what the suite would have actually brought in each month, or was the whole thing more of a gut call? I ask because a buddy of mine did the opposite, went with a legal suite in the NW and the rent covers most of his mortgage, but he deals with tenant stuff nonstop. The way I see it, that extra $40k you paid is really just buying yourself peace and quiet for the next twenty years. Sharing a wall with a rental means you never know who moves in next, and legal suites tend to pull in folks who come and go a lot. Curious if you factored in the vacancy months and repair costs on top of the utilities and tax bump. I have been on the fence about a similar place in Airdrie and keep talking myself out of it.
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