A laneway home is a secondary home attached to a primary residence and oriented toward the rear access road. Depending on the homeowner’s needs, a laneway home can either be used as a primary residence or as a rental unit to generate revenue. Now, why build a laneway home?
In recent years, laneway homes have become popular in Canada, with many homeowners opting to construct secondary homes in this fashion. Here are some reasons why you should choose to build a laneway home.
Vancouver has to offer more options for detached, ground-level living than just buying a house or renting a basement apartment. Some residents build a laneway home to have their private entrance or because it is more cost effective than owning a property.
The value of your property rises when you add a laneway house to it. There is a possibility that your home’s value could rise by as much as $100,000 due to the addition of a well-designed laneway house.
With two homes on the same plot of land, your family will always have a place to gather as you age. Children or parents can live in the laneway home when they move out and have some privacy.
Another fantastic thing about laneway homes is that they may be used to make some extra money. Rental income from a laneway home can help you pay off debt or have more savings.
Building a laneway home on the property will make it more attractive to potential buyers if you want to sell your primary residence in the future.
As you can see, there are enough reasons why you should build a laneway home on your lot. It includes nature, your own family, your money, and society. Now that it is a favored viable housing option in Canada, what are you waiting for? Get in touch with us now.