We have many investors in our market places who are always seeking ways to invest in the Collingwood area for the long term. Many consider a duplex or homes with income suites to be ideal however, the availability of such homes for sale is limited. Here is another option that represents a win-win for owners, tenants, and communities.
Simcoe County operates a Secondary Suites Program that provides funding of up to $30,000 per unit for the creation of a secondary or garden suite which is an effective means to increase the supply of affordable housing. Approvals must be obtained before commencing construction and, units must be rented under specific conditions.
Application intake for the Secondary Suites Program is year-round however, funding is limited and is provided on a first-come-first-served basis to eligible applicants.
Here is a fact sheet that explains the program in greater detail. I think it represents an excellent opportunity for investors to create new housing stock.
Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg