When we get enquiries about garden suites, we are quick to rave about the benefits.
Not only do we think they’re a good idea from a REALTOR® perspective (Hello, Resale Value!), but also because we’re garden suite owners too!
Let’s break down the reasons why we love garden suites (and you might, too)!
But first – What is a Garden Suite?
Garden suites, also known as garage suites, granny flats, or laneway homes, are basically small homes in the backyard. Typically around 400-800 square feet (acreage owners can build on the larger side), a garden home is a permanent structure that functions as a single detached residence. These are not the same as Tiny Houses, as those are typically movable!
Garden Suites are an increasingly popular solution for homeowners looking to help with the rising cost of living.
And truthfully, it’s not just about the money!
We both built garden suites years ago (ahead of the curve!) and we’re so glad we did!
Mom and Dad are right next door!
Our motivation for building our garden suites was to help our aging parents – and we’re not the only ones! There’s a rising trend of families wanting to help their parents age in place while still keeping some distance and separation of space.
Parents are simply the best neighbours! They’re always around to borrow a cup of sugar, enjoy a cup of coffee, help with the gardening and spend time with the kids.
Our parents are quick to lend a hand and share guidance from their own experience with home ownership and maintenance.
And let’s face it, home maintenance can be hard on the most able bodied! Many seniors can no longer take care of their family homes, physically and/or financially. Our garden suite has allowed our parents to enjoy a wonderful lifestyle. It’s keeping them young without adding the burden of maintaining a large property.
On top of that, being able to conveniently water plants and take care of each other’s pets has made traveling much easier!
Building a garden suite creates a flexible option to keep families together. A garden suite allows seniors to stay in their neighbourhood and connected to their beloved community. It also allows them to keep their independence while having caregivers close by.
Having our parents in garden suites right next door has been such a gift for us and them.
One of the best parts of living in a garden suite on my daughter’s acreage is being able to see my grandchildren while just enjoying the yard, pets, garden and flowers every day.
– Trina’s parents
A garden suite can also be an ideal place for university aged children. Instead of the parents moving into the smaller space, the kids can! They can pursue their studies, while helping the older adults with the upkeep of the home (and raid the fridge!).
And while they may not be blood related, many nannies are considered family too! A garden-suite is an attractive option to a full-time live -in nanny!
Garden Suites provide a secondary income at a time when the cost of living keeps going up!
There are several reasons that make garden suites a worthwhile investment.
One of the more obvious appeals is rental income. In the Capital Region a new garden suite rents on average for $800-$1200, depending on location and amenities.
What could you do with an extra $1000 a month? Save for your retirement? Invest in your kids’ education? Create the ultimate Oilers clubhouse? Pay down your mortgage faster?
A garden suite provides more privacy to the homeowner and tenant than a basement suite. Garden suites are a detached unit, and there are no shared spaces or walls – so no worries about noise or odors!
And renters aren’t just looking for long-term leases. Given the universities and colleges in our area, plus the hospitals and government temporary contracts available, many landlords are seeing an increase in short-term leases as well. You can rent your garden suite with AirBnB and VRBO – which means extra income AND a space for Great Aunt Mabel to stay at Thanksgiving. (Just be sure to double check your community bylaws for rules around building and short-term rentals).
As realtors, here’s one of the things we love about garden suites: resale value is exceptional! People who have sold properties with two residences have fetched top dollar and enjoyed very few days on market.
Garden Suites build healthier communities
Our communities benefit from garden suites, too. The Edmonton area has one of the lowest vacancy rates in the country – so putting your garden suite onto the rental market will be a huge help to many people looking for a cozy place to call home!
Building in established neighbourhoods, instead of at the city limits and contributing to urban sprawl, allows people to access existing infrastructure, like public transit and recreation centres. On top of that, when family support is close at hand, it helps to reduce the load on local support services.
Think about this – your mortgage helper is someone else’s affordable housing. A garden suite adds to the city’s affordable housing stock and creates options for people who would otherwise not be able to afford mature and desirable neighbourhoods.
Garden suites as a form of infill help promote fiscally, environmentally and socially responsible development. And don’t we all want to be part of the greater good?
To Garden Suite or not to Garden Suite…
People are increasingly looking for creative ways to get more out of their homes (and their paycheques!). With local government reducing their requirements for building approval, garden suites offer homeowners flexibility and opportunity that hasn’t previously been seen. What’s more, there are so many design possibilities!
Ready to build your Garden Suite in Sherwood Park or Edmonton Area?
If you are interested in taking the next step toward building your own garden suite, here’s what we suggest:
Start gathering resources. YEG Garden Suites with the Canadian Backyard Housing Association offers suite tours, workshops and can connect you with those in the industry that know best.
Check out your local municipality’s bylaws and learn more about the rules and regulations. Some of the local municipalities also offer grants to help offset the cost of building! You can find Strathcona County information here.
And of course, connect with your local REALTOR®.
We would be more than happy to discuss our experience as garden suite owners and help you decide if a garden suite is right for you!