“I know what you want to build, I just want to be clear on why you are building it.”
The question I will hear is, “Is building a backyard suite worth it?” Well, I would preferably not answer that question, with either a “yes” or “no.” Instead, I try to inform my clients of what to expect if you are going to build a suite and then let them decide if it is worth it. For now, I will say building an additional suite means you are extending your existing home or adding an accessory to your property. Nonetheless, you are investing in the idea of freedom, and that requires a great deal of commitment because it affects your time and money.
First, you need to be clear about what you want to do. Therefore, using the right terminology is key when we’re looking for the correct information or when receiving the proper kind assistance. For example, when I say “backyard suite,” I’m referring to a “laneway house,” “carriage suite,” “mother-law suite,” etc. because they’re dwellings separate from the main building. A secondary suite is another dwelling within the main building. Secondary suites are often referred to as “basement suites.” Using the right terminology helps communicate what we want more effectively, and it keeps our mindset more focused on the project at hand.
Secondly, I would ask you, “What are your plans for your suite?”. Establishing the intensions for the suite provides a “starting point” for the direction we want to go. Thus, my question is, clarifying your intention for this suite is for your usage or a source of income? Consider a personal design-build as an “emotional investment” because you are tailoring a structure to fit into your everyday life. Therefore, you are more conscious of every detail, and you are willing to expand your budget to get everything just right. An income build or as I would like to call them a “conservative” build, means you are going to invest enough that it will not reduce the potential of your return. For example, there aren’t a lot of “chic” rental properties around because they do not reflect the active rental market; therefore, why invest so much into the character of the space? Income-builds would be affected by the initial costs versus the rate of return by the market. Try to possess a real estate agent as your consultant while heading down this route to stay within your maximum potential.
Third, now that we know what we are doing, and we are clear about our intentions, “What if we change our minds in the future?” Changing our minds is very common. We decide on our property with the one purpose, then life happens, and we need to make changes. Here’s what I would say, “look for a balance.” Working for homebuilders for several years, the most common thing a designer would see are requirements for future developments. You may want to develop your basement or add an addition to your house but, since you don’t have the means right now, we will make the necessary adjustments now; and then revisit your development in the future. You should be aware that this process, you need to be mindful of where you start and where you vision yourself in the future. Things may change, but the initial concept should remain consistent. A 3-bedroom house with 1 ½ bath can quickly turn into a 3-bedroom house with 2 ½ baths. The idea of the 3-bedroom house from the start is still consistent right through to the end.
By now, the answer to the question of “to build a backyard suite is worth it?” cannot necessarily be conclusive. Instead, we want to find out how is it worth it. We know that is beneficial in theory, but we need to answer it through practice. Now that I’ve got you thinking, our next step is to understand what kind of property you have or how to find the right property.