Laneway Homes
Benefits:
Benefits of having a Laneway Home 1- For a home buyer who wants to live in the subject property a Laneway home is a good mortgage helper as well as source of income 2- For a home buyer who is a passive investor and wants to rent out the house, there would be more income on investment which results better ROI 3- For a home seller, it is an added value which can result to increase the selling value 4- For a home seller, this feature will sell the house sooner
Finance:
Is it financially suitable to build a Laneway home? The cost of building a Laneway home is $200K + permit fees. The mortgage payment on $200k is about $900 a month for a 25 year term. A Laneway home can be rented around $1,200 to $1,500 which will bring positive cash flow to a family. In some cases the home owners move to the new built Laneway home and rent the main house for over $2,500 which is a source of income for the family.
What do we offer:
Laneway homes can be built on any 32’ lots or wider in any RS single family zone.
Which lot qualifies?
1- Preliminary meeting with the client to discuss the potentials 2- Discuss the details about the shape and look of the building, design concept and materials and finally signing the agreement 3- Providing survey, architectural, structural drawings as well as energy adviser report 4- Submitting the permit application 5- Communication with the city and all necessary followups 5- Starting the construction, supplying labour and material 6- Utilizing city inspections and utility connections for finalizing the project 7- Occupancy permit All above costs $200K (excluding city permit fee & utility’s connection fees)
Time-line:
How long does it take to have a Laneway home built? After initial conversation and agreement, it will take about 45 days to have the documents ready for submission, 6 months for the city to issue the building permit and 4 months of construction all together just under a year.
604-929-6696
Our team has 28 years experience in the construction industry, insured and bounded, HPO licensed builder, member of ASTTBC, Built Green BC and associate member of AIBC
INFO@MYHOMEDESIGNER.COM