• Home
    • Resource Library
    • Business Resources
  • Blog
  • Craft Supplies
  • Free Primitive Patterns
  • About
    • Privacy Policy
    • Terms of Use
  • Contact Us

Prim Mart

For Home, Garden, and Lifestyle

  • The Home
    • Decor & Design
    • Cleaning & Organizing
    • Buying and Selling Homes
    • Electrical & Energy Use
    • Heating & Cooling
    • Home Appliances
    • Pest Control
    • Plumbing
    • Roof Maintenance
    • Security
    • Tools & Equipment
  • Outdoor Living
    • Gardening
    • Landscaping
    • Lawn Care
    • Patio Decorating
  • Art & Crafts
    • Craft Tutorials
  • Food
  • Lifestyle
    • Family
      • Parenting
      • Pets
    • Beauty & Fashion
    • Finances
    • Education
    • Fun
    • Legal Matters
    • Technology
    • Car Care & More
    • Celebrations & Holidays
    • Safety
    • Shopping
    • Travel
  • Wellness
    • Dental Health
    • Diet & Fitness
    • Holistic Health
    • Mental Wellness
    • Physical Health
    • Self Improvement
  • Work & Business
    • Business Tips
    • Business Marketing
    • Office Design
    • Building Upkeep
    • Career Training
    • Work at Home
Home » The Home » Buying and Selling Homes » Laneway Housing: A New Way of Living in the City

Buying and Selling Homes · September 26, 2020

Laneway Housing: A New Way of Living in the City

Laneway Housing A New Way of Living in the City

Cities are characterized by high populations. With a population of people comes the need for housing. One way Vancouver city residents are dealing with it is by laneway housing. This means putting up another home in the pre-existing lot. Mostly, the house is built in the backyard and opens to the back lane. As such, laneway housing has become a new way of living in the city. If you want to construct one in Vancouver and North Vancouver, then Goldcon Construction is your answer.

Here is why laneway housing is becoming popular.

A Second Home

Prices of homes in the city are high to the extent that young families cannot afford. A laneway house has become the solution. It is way cheaper to build a laneway house than to buy an apartment. Most young families are using it as a solution to homeownership in the city.

Also, it is making it easy for multi-generational living. For example, it can be costly for the young generation to buy a home in the city. A laneway house can solve the problem because it will only incur the cost of construction. With that, they have a home in the city close to all the amenities.

Besides, a laneway house is detached and has all facilities, including parking.  Based on the size of the lot, you can build a 2 or 3 bedroom laneway house since their size ranges from 600 to 900 sq ft.

Source of Income

A laneway home can bring in rental income. With the rising population in the city, it is easy to find tenants. The home can bring in rent of approximately $3,000 per month while the construction costs about $400,000. With a mortgage of $1,500, you can pay back and remain with extra cash. Some financial institutions have joined in since they have noted the demand for these homes. They are now offering mortgage packages for construction.

Increases the Value of Property

A laneway house can increase the value of the property with more than the cost of construction. This has made it an incentive to homeowners who want the value of their home to go up or those looking to sell. Some homes built in new lots are including a laneway house. This is raising the value of the property, and most buyers are attracted to it.

Municipalities Make It Easy

To build a laneway house, you are required to apply for approval from the local authorities. Luckily, there are bylaws in place to make the process easier. For example, Vancouver has an online guide that homeowners can use to understand the process of application and construction of the laneway houses.

Municipalities are encouraging homeowners to build these coach houses, or secondary suites as they are also referred. This is by amending the by-laws and simplifying rules. However, there are conditions that the lot must meet. For example, the lot must back or front on a laneway. Also, it should have enough space to fit another home. As the laneway homes hype catches on, some municipalities are still creating guidelines and by-laws to guide the homeowners.

Spread the love

Posted In: Buying and Selling Homes

You’ll Also Love

Home Remodeling Before Sale to Get a Higher PriceHome Remodeling Before Sale to Get a Higher Price
Making the Most of Your Home Selling Journey in Rogers, ARMaking the Most of Your Home Selling Journey in Rogers, AR
Apartment Hunting Like a Pro: Top 5 Tips
Next Post >

5 Maintenance Tips to Freshen Up Your Home before Selling

Search

Hello There!

Welcome to Prim Mart! I'm Katharine, a mom, wife, and blogger with a passion for all things related to homemaking and enjoying life. Prim Mart was founded in 2001 and has grown from just a craft blog to an online lifestyle magazine filled with helpful and creative articles for you!

Join Our Newsletter

Archives

Popular Posts

Categories

Copyright © 2023 Prim Mart · Theme by 17th Avenue

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More

Accept Decline Cookie Settings
I consent to the use of following cookies:
Cookie Declaration About Cookies
Necessary (0) Marketing (0) Analytics (0) Preferences (0) Unclassified (0)
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
We do not use cookies of this type.
Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
We do not use cookies of this type.
Analytics cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
We do not use cookies of this type.
Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
We do not use cookies of this type.
Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
We do not use cookies of this type.
Cookies are small text files that can be used by websites to make a user's experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
Cookie Settings