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Squeezing In - Laneway Houses

Squeezing in.

 

The City of Vancouver reported to have issued 350 Laneway permits in 2012, that is a big increase from the average of 146 from 2009-2011!

 

Laneway houses are one of the many ways homewowners help pay for their mortgages. With the new mortgage rules limiting what many young people can qualify for, having a secondary source of income as part of your property, whether through laneway houses or secondary suites, is a consideration of many homebuyers and home owners. Homeowners  can build the laneway house and rent it out until their family grows and needs the extra space. Many families are opting to share land, with one generation in the laneway house and the other inhabiting the main house. Laneway houses aren't costly to build ($200,000 to $300,000+), though the process can be long and quite involved.  Laneway houses are only permitted to be built on RS-1 or RS-5 Zoning.

 

 

Bill de Mooy

 

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