vancouver laneway house update
You see a backyard, I see opportunity,flexibility and return on investment
looking for more housing space or an income helper, the solution might be in your own backyard. Consider making the same space more useable with Laneway housing. Keep your parking spot, keep your yard, but build an additional dwelling with multiple use potential. A laneway house can be :
- rental unit
- caregiver suite
- in-law suite
- cottage for your adult child
- guest house for out-of-town friends
- home office
- your home while you rent out the main house and retire!
What is Laneway Housing?
- The City of Vancouver has approved the issuance Laneway housing permits in Vancouver
- Generally located in the space where a garage would be permitted
- In RS-1 and RS-5 single family areas
- Rental or family only
- cannot be strat titled
- Minimum of one on-site parking space
- Unit size based on lot size to a maximum of 750 sq.ft. (approx. a 500 sq.ft. unit on a 33’ X 122’ lot)
- 1 and 1 ½ storey configurations, with guidelines to address upper storey massing, privacy, and shadowing
Other options to consider. Tennants in common purchase where by contract you designate main house to 1 owner and laneway house to another. effectively buying a home for 1/2 the price.
currently rental rates of up to $2200 on the larger units, these homes more than cover the cost to build.
Call me for more information or to see if your property is eligible 604 617 4856