make your Squamish home How to
into a rental space
PAT JOHNSON
Getting into the housing market in the Sea to Sky Corridor can require some creativity. For many people, that means incorporating a “mortgage helper.” Doing it right — legally, safely and without creating more problems than it’s worth — requires professional help. Squamish does not permit short-term rentals of secondary suites or carriage houses on platforms such as Airbnb, although it is possible to rent out a room in a principal residence on a short-term basis, if District guidelines are followed. The tight housing market in town means that (comparatively) affordable secondary suites or other solutions are generally welcome. Construction and renovation experts have plenty of advice on avoiding pitfalls that could cost money – and peace of mind. Jason Zavitz, owner/partner of Alair Homes, says most of the people reaching out to him to discuss secondary suites have found a home they love but need an income boost to make it attainable. “Most people are saying, we can comfortably spend this much a month, so we need this much [additional] income,” he said. If one is already in discussion with a lender, tacking more on to a mortgage to fund a renovation is often very doable. An additional $75,000 on a mortgage might cost a few hundred dollars a month, but the revenue the suite could generate might be several times that amount. There are advantages, of course, 26 | Discover Squamish Summer 2021
as well as disadvantages. Income generation is nice, but suddenly you might be living near strangers. Even if they are the finest people, that is a relationship that goes along with the deal. Maybe it’s family moving in downstairs. That could mean built-in babysitters in the form of grandparents or an aunt and uncle. But even the best families come with baggage. Speaking of baggage, a big thing that people dreaming of a suite might gloss over is “stuff.” Another family on the property means another car, or more likely two. But this is Squamish, so where do the extra family’s four bikes, two kayaks and assorted ski equipment live? No matter who the tenants are, good neighbourly relations require upgrading to the soundproofing in the home. Above all, that most crucial element of real estate — location, location, location — matters in secondary suites as it does in everything property-related. The neighbourhood of Squamish you are in is a significant determinant of how — and whether — you can add a suite. Parts of Squamish, including downtown, are at or below the flood
control grade, which pretty much makes a basement suite out of the question. At higher elevations, basement suites are viable. Once you’ve determined a suite is allowable, and that it’s an accommodation you really want, the technical questions arise. There are a lot of factors that the average homeowner, especially first-time buyers, might not have considered. “You have to make sure there’s a fire separation between the two living spaces,” Zavitz said. “That’s something that is often overlooked by potential clients because they are thinking, all we have to do is put a kitchen in here and we are done. But we’ve got to get fire-rated doors and it requires an added layer of drywall on the ceiling, that kind of stuff — unforeseen costs that any layman wouldn’t really think about.” Flexibility is something else to consider. A family with toddlers now might be happy to live upstairs, but in a decade or so, when cute tots turn into brooding teens, can the downstairs be easily reintegrated into the main house to give everyone more room? Bottom line: How much does it cost? Zavitz responds with a riddle: “What is the cost of a bag of groceries?” A bag of groceries
