The End of Affordable Housing in Hamilton, Ontario w/ Architect Jordan

[@ishrats6341]

Hi Koukun, I bought a month ago 3 yrs old 2900 SQFt, double garage, 4 parking in front , unfinished basement in Ancaster (Tiffany Hills). Would it still be difficult to make legal basement. I seen a lot of houses before buying this one and non of them had legal basement. I need to rent basement to have some income but if it is as you said it is incredibly difficult then it is going to be a big set back for me.

[@ankurbansal21]

Regarding new parking requirements - you mean 3 spots required side by side ? Can two side by side and one in garage allowed ? Didn't quite understood .Can you please explain more

[@Mortgagebykoukun]

Yeah so 2 spots need to be side by side and the 3rd can be in front or behind one of those 2 spots

[@ankurbansal21]

@@Mortgagebykoukun Thanks Koukun. I am exploring Hamilton for next single family home investment .Can you please share good neighborhoods for investment purpose and the ones which should be avoidable

[@Mortgagebykoukun]

Hi Ankur, most of the Hamilton mountain is pretty good. When it comes to the lower city the area closer to the mountain as well as on the east and west sides of the downtown can be decent. I'd avoid the areas closer to the factories in central Hamilton. If you are looking for a single family home investment I'd recommend considering the niagara region. It can be easier to find single family homes here in better neighbourhoods that can break even or even produce some positive cashflow.

[@newbieinvestor8761]

Do you do outside Niagara Falls? Like Dufferin County

[@Mortgagebykoukun]

We primarily work in the Niagara Region as well as the GTA

[@TheRealJefferyWoods]

Great video! Very informative.

[@Mortgagebykoukun]

Thanks Jeff!

[@dumlaowalter]

How do you get creative with the 2 bedroom limit?

[@Mortgagebykoukun]

Mark a 3rd room as an office or den, basically if it doesn't have a closet its not considered a bedroom

[@Guyontheinternet1]

Great video, these are some brutal changes. Now with these new criteria, finding the right property to make legal basement unit will be like trying to find a unicorn!

[@Mortgagebykoukun]

Yep, its made it significantly harder to continue the Duplex conversion strategy in Hamilton. The only silver lining is that there are other cities in Ontario that are not as difficult to work with.

[@Guyontheinternet1]

@@Mortgagebykoukun makes existing legal non conforming more valuable too I imagine 😄. I went through this process on the mountain 2018-2019. That property would not make the cut now.

[@Mortgagebykoukun]

Yep, if you have a legal basement apartment its now all the more valuable

[@Mortgagebykoukun]

Get your FREE copy of my Beginners Guide to Creating a Legal Basement Apartment 👉 www.teamkoukun.ca/legal-basement-apartment