4 Reasons to Hire Laneway House Builders in VancouverNovember 15, 2021
The housing market in Vancouver can be described as fickle, at best. Currently, housing prices are astronomically high and there is a major shortage of affordable housing available to renters. If you happen to own your home, now might be the perfect time to consider hiring laneway house builders and adding to your property.
What is a Laneway House?
Laneway houses, also referred to as garden suites, granny suites, or guest houses, are detached secondary homes situated somewhere on the property, usually towards the back of the yard towards an alley or ‘laneway’, hence the name.
They are smaller, ‘mini’ houses that can usually accommodate no more than two people and are often equipped with everything that comes with a standard-sized house including a full bathroom, laundry facilities, and a small yard. Some might be classified as ‘bachelor’ suites, but most will include a private bedroom. Laneway houses have their own private, separate entrance.
Many homeowners are making room in their yards for laneway houses, and here are 4 good reasons why you might want to consider it too.
Increased Resale Value
Adding a laneway house to your property will cost, on average, between $200,000 and $300,000. That’s no small number, but the resale value added to your property with this investment will payout when it comes time to sell. Not only that, you may be able to sell your laneway house or place it under a strata title and still keep your home depending on where you live.
Additional Space for Guests
A laneway house is a convenient option for family visiting from out of town. If you aim to make some additional income, registering and listing it as an Air BNB for guests is another great option to make revenue.
Provides Space for Aging Parents, Kids, or Caregivers
This is an especially attractive feature given everything that’s happened over the past two years with Covid-19. Adult children of senior parents are reluctant to place their aging parents in old age care homes and such facilities and are opting to move grandparents in with them. Additionally, many students are also opting for online education to avoid living in high-dense student housing where the risk of an outbreak is higher. A laneway house provides a private and comfortable living arrangement alleviating some of the pressure that comes with living in a crowded house.
Needless to mention, additional income is the main reason why laneway houses have become so popular in recent years. Renting out a laneway house provides the stable passive income from renters without having to share space with them which provides to be a major perk for landlords with kids and pets. Laneway houses are a great way to increase density while preserving the look of a neighbourhood. They provide to be a very attractive housing solution for single professionals who prefer living arrangements without roommates in apartments and basements.
Dreamville Custom Homes is one of the leading laneway house builders in Vancouver. They will expertly guide you through every step of the process, from planning to design. Click here to see some of their work and set up an appointment with them today.
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