In this video, Anthony Therrien-Bernard breaks down what to look for when buying a property with a backyard suite, or when you are considering building a backyard suite (also called a laneway home, coach home, garden suite, garage suite).
Key takeaways
Backyard suites can boost cash flow and privacy, great for family too
New builds often cost $200k to $300k+ once utilities are included
Insurance can be tricky; some insurers require separate policies
Electrical and gas service upgrades can be a major hidden cost
Parking rules matter, usability matters even more
Legalizing an illegal backyard suite is not the same as legalizing a basement suite
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