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Why are Laneway homes so desirable?
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In the last few years throughout Vancouver and the Lower Mainland, Vancouver Realtors have seen a massive increase in homes with laneway homes. To date, The City of Vancouver has issued upwards of 3300 permits for laneway homes and plans to expand the rental housing option by way of laneway homes to an additional 4000 over the next 10 years.
As an existing homeowner, looking into building a laneway home may soon become an even more desirable option for generating rental income as obtaining permits is becoming easier, height restrictions are lifting, and laneway homes can now be built with a half second story instead of a full second story, thus offering more design flexibility and time efficient options for the homeowner.
If you are thinking about purchasing a Vancouver Home with a laneway property, or are a current homeowner and are thinking about building a laneway, Matt Henry, a Remax Realtor in Vancouver who specializes in Homes with Laneway Homes says the desirability is endless. “From wanting housing options for elderly parents who need to be close but still want independence, or generating extra income by renting the laneway or by downsizing yourself while being able to rent out your main residence, or offering older kids a cheaper rental option while keeping them close to home.”
So while we keep seeing previously lifeless, empty lanes come to life from homes with laneways homes, we might want to consider getting into the laneway game.
-Matt Henry Team
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