vancouver

the Deputy Prime Minister and Minister of Finance announced technical guidance for lenders and insurersto offer mortgage refinancing for homeowners looking to add secondary suites to their homes, starting January 15, 2025.

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The Canadian Deputy Prime Minister Announces New Initiatives to Increase Housing Supply in Canada

In a significant move to address the ongoing housing crisis in Canada, the Deputy Prime Minister has unveiled a series of actions aimed at boosting the availability of affordable housing. The announcement, made on October 10, 2024, focuses on two key strategies: the creation of secondary suites and the unlocking of vacant lands for residential development.

Building Secondary Suites

One of the primary initiatives involves the facilitation of secondary suites—additional living units within existing homes. This strategy is designed to maximize the use of current housing stock, providing homeowners with the opportunity to generate rental income while also increasing the number of available rental units. The government aims to simplify the regulatory framework surrounding the development of these suites, making it easier for homeowners to convert their properties.

Unlocking Vacant Lands

In addition to promoting secondary suites, the Deputy Prime Minister highlighted efforts to identify and unlock vacant and underutilized lands across Canada. By repurposing these areas for residential development, the government hopes to address land shortages that contribute to housing supply issues. This initiative will involve collaboration with municipal governments to streamline processes and encourage the development of affordable housing projects.

Addressing Housing Affordability

These actions are part of a broader strategy to tackle housing affordability, which has become a pressing concern for many Canadians. The Deputy Prime Minister emphasized the government’s commitment to ensuring that all Canadians have access to safe and affordable housing. The new measures are expected to enhance the supply of housing options, particularly in urban areas where demand is high.

Community Support and Economic Growth

The announcement also underscored the importance of community involvement in these initiatives. By engaging local stakeholders, the government aims to ensure that the developments meet the needs of residents while fostering economic growth. The Deputy Prime Minister reiterated that increasing housing supply is not only vital for individuals and families but also for the overall health of the economy.

Conclusion

The Deputy Prime Minister’s announcement marks a proactive step towards alleviating Canada’s housing crisis. By focusing on innovative solutions like secondary suites and the utilization of vacant lands, the government is taking significant strides to enhance the availability of affordable housing for all Canadians. As these initiatives unfold, they promise to reshape the housing landscape and provide much-needed relief for those struggling to find suitable homes.

Net Zero Homes | The Ultimate in Comfort and Efficiency

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Silvercrest Custom Homes Completes Net Zero Building Science Training

Silvercrest Custom Homes, a prominent leader in the custom home building industry, has recently completed the Net Zero Building Science Training, marking a significant milestone in their commitment to sustainable and environmentally responsible construction practices. This achievement underscores their dedication to not only meeting but surpassing industry standards, setting a benchmark for environmentally friendly and energy-efficient home construction.

The Net Zero Building Science Training

Net zero homes are at the forefront of the green building movement, aiming to create residences that produce as much energy as they consume. Achieving this level of energy efficiency and sustainability involves a deep understanding of building science principles, advanced construction techniques, and a focus on renewable energy sources. Silvercrest Custom Homes recognized the importance of this knowledge and recently completed the Net Zero Building Science Training program.

This comprehensive program delves into various aspects of sustainable construction, including building envelope design, efficient HVAC systems, renewable energy integration, and more. The goal is to reduce a home’s energy consumption while maximizing its capacity to generate clean energy, ultimately leading to a net zero energy balance.

The Benefits of Net Zero Homes

Net zero homes offer a myriad of benefits for homeowners, the environment, and the community. Here are some of the key advantages:

1. **Reduced Energy Bills**: Net zero homes often see significant reductions in energy costs. These savings are not only financially beneficial to homeowners but also contribute to reducing their carbon footprint.

2. **Environmental Responsibility**: By producing as much energy as they consume, net zero homes minimize their impact on the environment. This includes reduced greenhouse gas emissions and a lower reliance on fossil fuels.

3. **Enhanced Comfort**: Net zero homes are designed with a focus on superior insulation, energy-efficient windows, and state-of-the-art heating and cooling systems. This results in a more comfortable living environment, with consistent temperatures and improved air quality.

4. **Increased Home Value**: Sustainability and energy efficiency have become selling points for homeowners. Net zero homes are in high demand, and their increased market value reflects this.

5. **Supporting Renewable Energy**: Net zero homes often incorporate solar panels and other renewable energy sources, further promoting the use of clean energy technologies.

Silvercrest’s Commitment to Sustainable Building

Silvercrest Custom Homes’ completion of the Net Zero Building Science Training highlights their commitment to responsible and sustainable home construction. They have consistently demonstrated a dedication to using innovative and environmentally friendly building techniques, and this latest achievement solidifies their position as a leader in the custom home market.

By integrating their newfound knowledge of net zero building science, Silvercrest Custom Homes will continue to push the boundaries of energy-efficient and sustainable home design, creating residences that not only meet but exceed industry standards. Their commitment to reducing environmental impact and offering their clients the benefits of net zero living showcases their vision for a brighter, more sustainable future.

Silvercrest Custom Homes’ completion of the Net Zero Building Science Training is a testament to their dedication to sustainable building practices and their commitment to creating custom homes that are both environmentally responsible and energy-efficient. As they continue to innovate and incorporate cutting-edge techniques into their projects, they set a high standard for the construction industry, showing that sustainability and responsible building practices can go hand in hand. With their focus on net zero building science, Silvercrest is not only building functional and environmentally friendly homes but also helping build a more sustainable future for us all.

5 Things You Need to Know About Laneway Houses

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5 Things You Need to Know About A Laneway House

Vancouver property owners are attempting to extract as much value as possible from the expensive ground on which their homes are built, as real estate prices are fast rising. Building an extension to a house to increase living space, converting a basement into a separate apartment to generate rental revenue, or providing shelter for an adult child or aging parent are just a few examples. In a similar vein, thanks to zoning by-law revisions in some Canadian communities, homeowners in an increasing number of places can now build a second house on their land. These secondary dwellings, also known as laneway houses, are cropping up in many cities. But what exactly are these lane houses, and is it financially feasible to construct one?  Here  are 5 Things You Need to Know About Laneway Houses!

    • What Is a Laneway House?

1 of 5 Things you Need to Know About laneway houses: Laneway houses, coach houses, and garden suites are all detached structures on the same property as your primary residence. A laneway house is a property close to a public alley and has a secondary dwelling that faces or backs onto the lane. The secondary dwelling is known as a coach house or garden suite if there is no lane. The utilities and services for the secondary home, such as water, gas, and electricity, are typically connected to the main residence rather than the street in either case. A laneway house can range in size from modest suites on top of garages to more than 1,000-square-foot two-story dwellings with a basement, depending on the municipality’s zoning ordinances and the size of the property.

    • Who Can Build a Laneway House?

2 of 5 Things you Need to Know About laneway houses: Secondary houses are currently not permitted in most cities, but times are changing. And those that do have their own set of criteria for which properties qualify and how to obtain building permits. Silvercrest Custom Homes and Renovations and our laneway house experts know how to navigating various municipality. In Vancouver, for example, where laneway houses have been permitted for over a decade, residents must submit a case-by-case application to the planning department for permission. New by-laws in Vancouver have allowed for more design flexibility and reduced design constraints in order to lower wait times for the building permit process. In addition, the City of Vancouver has implemented new guidelines for the permit processing time targeting 4-6 week turn around from date of submission and eliminated the 1.5 level constraint.

    • What Is the Cost of Building a Laneway House?

3 of 5 Things you Need to Know About laneway houses: The cost of building a laneway house ranges between $400,000 to $700,000 as it varies depending on your location, the size, and the kind of construction. Architectural designs, permits, construction materials, labor, and site development charges, if needed, are all included in these expenditures. In addition, borrowing costs (such as interest payments on a HELOC or mortgage), as well as higher home insurance premiums, property taxes, and energy bills, should all be considered.

    • What Are the Financial Advantages of a Laneway House?

4 of 5 Things you Need to Know About laneway houses: A laneway home can be profitable in many ways: 

    • Boost the value of your home

Adding square footage of habitable space to a property, whether through finishing a basement, adding a third-floor addition, or building a laneway home, increases its value. Depending on your local housing market, the gain in property value could be much more than the cost of construction, which will pay off when you decide to sell.

    •  Rent out your home and increase your revenue

Renting out your main house and moving into your laneway house could provide you a rental income over and above your monthly mortgage payment. In addition, you can deduct rental properties from your taxes. Imagine, you would have paid nearly twice as much for a one-bedroom apartment in Toronto as an income property. The higher mortgage payments, not to mention the monthly condo fees, would be substantially more than the rent you could collect.

    • Provide a loved one with a detached dwelling for a fraction of the cost of owning

Even the smallest detached homes in Vancouver now sell for close to $2 million, making it hard for newlywed couples to afford to buy one for themselves. But, as parents, you can step in and build a lovely 1,000-square-foot laneway house for a fourth of the price of a small detached home.

    • Is Laneway House in High Demand?

5 of 5 Things you Need to Know About laneway houses: As homeowners see secondary houses crop up in their neighborhoods and learn about the benefits, demand for laneway houses could skyrocket in the next year or two. Laneway houses are an appealing alternative to high-rise and other multi-unit apartment complexes or condos from renters’ perspective. They provide a single-family detached home experience without having to put up with the sounds, scents (and, in COVID times, aerosol emissions) of your neighbors. There’s no one above you or on the other side of the wall, no shared spaces or elevators to deal with—you simply walk out your front door. Because of these benefits, owners can frequently demand a higher rental rate for a laneway house than for a similar-sized basement apartment or condo.

5 Things You Need to Know About A Laneway House Conclusion

Building a laneway house can be a terrific investment if you’re willing to take on the role of amateur developer. To begin, you’ll increase the value of your home, which will pay off when it comes time to sell. Then, you can rent out the second home (or move in and rent out your primary residence) to help cover construction costs and, in many cases, pocket any excess rental revenue. Alternatively, you can assist a family member with inexpensive accommodation so that they do not have to relocate to a less expensive suburb or city. Just make sure you follow all local legislation and regulations.

This article was written by Melissa Hansen, a seasoned writer with contributions to niche outlets like Epic Firms, Forever After, and Bridgewell Group. When she is not crafting insightful content, Melissa enjoys her time with a hot cup of coffee in one hand and an inspiring book in the other.

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What You Should Look For in Home Builders

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home builders near me

Whenever you are looking for home builders to create your home or to buy a fully completed property from, simply looking for ‘home builders near me’ might not be the best move.

Although, agreeably, in this day and age, keying in ‘home builders near me’ through various search engines are among the easiest means to find a professional who can help you out. But, purchasing a built house or constructing one costs a serious amount of money that committing grave mistakes just like hiring an inexperienced home builder is something you would not want.

So, you have to be meticulous in choosing your home builder, and you must know what you should look for in homebuilders before you deem them as reliable and skillful.

Tips to Find Great Builder

Here are some tips you may find useful in your hunt for a great home builder:

If you are looking over houses around the area with designs that truly appeal to you, talk to the homeowners and ask about their home builder. Inquire about the quality of work, or if they would recommend their home builder.

On the other hand, if you are already talking to a potential home builder, you can ask for references or portfolio of their past work. If the home builder is suggesting that you check out a display home or a model home, ask if they would build your home exactly the same as the one on display.

Don’t forget that even though you are the one needing their service, home builders who are offering you their services are basically applying for a job. Therefore, don’t hesitate in asking them about their work experience.

Aside from solid experience, you must also check their documents. Find out whether they have insurance and ask them about the warranty of their work. Beware of home builders only offering warranty for a short amount of time.

Go for home builders who will offer you fixed costs. Be wary of the ones who would just provide you with unclear estimates of what the costs MIGHT be.

Take your time in choosing the right home builder. As the saying goes, “Great things take time.” – you have to be careful if you want your home to be great.