Laneway House benefits

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Laneway House benefits

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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 $1,800 to $2,200 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 $3,500 which is a source of income for the family.

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, 6 months for the city issue the permit and 4 months of construction all together just under a year.

Which lot qualifies?

Laneway homes can be built on any standard lots in any RS single family zone.

What do we offer?

  1.  Preliminary meeting with the agent and the client to discuss the potentials (at no charge)
  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 and all necessary followups
  5.  Starting the construction, supplying labour and material
  6.  Communicating with city and utility official for finalizing the project
  7.  Occupancy permit

All above costs $200K – (city permit fee, utility’s connection fees)

Our team has 28 years experience in the construction industry, insured and bounded, HPO licensed builder, member of ASTTBC and associate member of AIBC