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Updated about 3 years ago on . Most recent reply

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Karsten Madsen
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Should I build small, 2nd home on my property?

Karsten Madsen
Posted

To help our son break into the housing market, we are looking into building a small (approx 1,000 sq ft) home on our 6.4 acre lot in rural Ontario.  My curiosity is how it would effect influence of this on selling at some point in future.  The 2-house property could be marketed as having a stand-alone Granny Flat or Air bnb unit ... but that would mean a smaller pool of potential buyers.  Any thoughts about this?

Ciao,
K

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Roy Cleeves
  • Residential Real Estate Broker
  • Kitchener, Ontario
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Roy Cleeves
  • Residential Real Estate Broker
  • Kitchener, Ontario
Replied

Having the 2nd home on the property should increase the demand and the value.   Is there any possibility of severing the land in the future into two?

I think this is a great solution to help your son.  Beat wishes. 

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