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
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
Comments:
Post Your Comment: