Laneway Homes Vancouver
Do you love your home but feel that you are running out of space? A laneway home or coach house could be the perfect solution for you. Silvercrest Custom Homes & Renovations will help you maximize the potential of your laneway house Vancouver to give you the additional space that you need.
WHAT IS A LANEWAY OR COACH HOME?
- A laneway house Vancouver is a smaller, independent structure located at the rear of a lot where the garage would normally go on a single-family property.
- Laneway housing is usually allowed in all RS single family zones.
- In Vancouver and other municipalities, a laneway home can be permitted in addition to a secondary suite in the main house.
- A laneway home can be for family use or rental; strata-titling is not permitted.
WHY CHOOSE A LANEWAY HOME?
There are many reasons for wanting to add a laneway home to your property:
- provide housing for a variety of users, such as aging family members, adult children, caregivers, and homeowners wishing to downsize.
- to provide more choice of housing type in single-family residential neighbourhoods.
- contribute to the rental housing stock and offer an affordable solution to the growing population and housing market.
- enhance to the overall sustainability of the city providing opportunities that may have otherwise not existed.
- to make the city’s urban lanes more green, livable, and safe.
IS YOUR LOT ELIGIBLE FOR A LANEWAY HOME?
Some of the key regulations for laneway homes are as follows:
- Located on a lot at least 33 feet wide
- Property must have open lane on a double fronting street or on a corner with lane dedication
- Fire access must be provided from the street along one of the side yards to the entrance of the laneway home
- Minimum of one on-site parking space must be provided
- A minimum of 16 feet separation is required between the main house and laneway house
WHAT ARE THE LANEWAY HOUSING PRINCIPLES?
The following principles underlie laneway housing regulations and guidelines:
- Laneway homes provide new housing choices for family members or renters in single family residential areas.
- Homeowners are able to add a laneway home while keeping their existing home, or build a laneway house along with a new main house.
LIVABLE AND NEIGHBOURLY UNITS
- Regulations and design guidelines ensure that laneway homes:
- maintain backyard open space.
- encourage one storey laneway houses to limit impact on neighbours.
- provide for a variety of unit types.
- Laneway homes make lanes greener, more livable, and safer by providing living space, parking, and planting in the lane.
- Laneway homes comply with the Green Home Program, as adapted for its small size.
WHAT SIZE OF LANEWAY HOME CAN I BUILD?
We determine the most effective size and shape of your laneway home during the first step of our process:
- Maximum allowable unit size is based on lot size, to a maximum of 750 sq. ft. For example, a maximum unit size of approximately 500 square foot is allowed on a 33 ft. x 122 ft. lot.
- 1 and 1½ storey configurations are possible, with guidelines to address upper storey massing, privacy and shadowing
If you are interested in finding out if your property is applicable for a laneway home or coach house, contact us for a complementary consultation today! We’d be happy to give you all the information you need to fully understand the process and financing needed to build a laneway home or coach house.
Skilled Craftsmen of Laneway Homes in Vancouver
When it comes to constructing laneway house Vancouver, BC, our design/build process begins when we first contact you.
We answer your questions and get the information needed to move to the next step. One of the main inquiries we ask you is: What are your objectives?
If you’re looking to get a coach home, carriage house, or laneway home in Vancouver, our contractors first make sure that you qualify. Our process includes:
- On-site consultation
- A meeting at your home with one of our contractors
- Assess the physical site
- More information on your particular objectives
- Explain to you what we can provide
- Give you a design and construction agreement
- Project Design
- Get and fill out all necessary permits
- Begin construction
At Silvercrest, we construct stunning architecturally-crafted laneway homes. We’re proud of how we go beyond our clients’ expectations through friendly customer service and high attention to detail. Our years of new home construction experience lets us deliver exceptional cottage homes, carriage houses, or laneway homes.
Amazingly Design and Constructed Vancouver Carriage Houses
When it comes to Vancouver tiny homes, it is a collaboration with you, our project designer, our project manager, and our home building contractors. Together, we visualize, design, and execute the building of your dream laneway house from beginning to end.
Working within the parameters of basic layout, budget, zoning, and intended use, we start with floor plans and a model that lets you get a chance of seeing what your laneway home will look like on your property, as well as the interiors and exteriors.
Realistic materials, precise details, and lighting are added to the model to give an exact representation of how your laneway home will feel and look when completed. This process saves you money and time during construction. You don’t have to second guess your decisions when you can see what bearing they will have on your laneway home.
Laneway Homes in Vancouver That Bring Added Space
Laneway house Vancouver are an ideal answer for families who want more space for their parents, children, relatives, or just to use as a rental for extra income. In addition, laneway and cottage homes in Vancouver offer an economical solution to the city’s housing market and growing population.
Moving into a coach house in Vancouver means less maintenance and gives you a chance of enjoying a new house created for now and the future. A coach house or laneway home allows you to put money up for your retirement via rental income and stay in the Vancouver neighborhood that you have grown to love.
At Silvercrest, our houses are designed to guarantee openness and space efficiencies with plenty of light. Our Vancouver laneway home designers promise comfortable living in a visual-pleasing environment. We design and construct a carriage home or laneway home precisely to fit your needs and specifications.
Tax Implications of Renting Out Laneway Homes in Vancouver, B.C.
What Taxes Do I Need to Consider When Renting Out Laneway House Vancouver, B.C.?
Are you considering renting out your laneway home to help pay your mortgage? You’re not alone; rental income makes paying an expensive mortgage much more doable for many families. If renting out your laneway house sounds like an ideal solution it’s time to think about the tax implications of renting out laneway homes in Vancouver, B.C.
Forget about tapping into the short-term rental market
Unfortunately, you probably can’t rent out your laneway house as an overnight rental property. The City of Vancouver only allows homeowners to place a principal residence into the short-term rental market. The goal behind the ban is to encourage laneway house owners to find a long-term renter to help alleviate the severe rental shortage throughout Vancouver. Violators face a hefty $1,000 per ticket fines.
Long-term rental taxes to consider
Before you begin interviewing prospective tenants, it’s crucial that you investigate how taking on a long-term tenant might impact your tax situation. Laneway houses in Vancouver, B.C. play an essential role in helping to fulfill the demand for rental housing in the area but, as the homeowner, there are significant tax obligations to keep in mind.
Some taxes that you’ll need to pay include
- Rental income tax
- Capital gains tax when you sell
Get ready to pay capital gains tax when you sell
Canadian homeowners traditionally don’t pay any capital gains taxes on the sale of a primary residence. However, you’ll most likely owe taxes on your profit from the sale of your home if it includes a laneway home that’s been serving as a rental unit. The amount of taxes that you’ll owe depends on the value of both the laneway house and the land where the structure is situated.
Lastly, laneway homes in Vancouver, B.C. represent a terrific opportunity for homeowners to generate rental income. Before you decide to become a landlord, it’s a sensible idea to meet with your tax advisor to discuss all of the financial implications involved in renting out your laneway home.
Silvercrest Custom Homes and Renovations specializes in designing spaces to enhance your lifestyle. Contact us to learn how you can have a laneway house that suits your property and pocketbook for help in preparing a basement or laneway rental space.
- A complete and thorough site inspection
- Extensive client consultation to craft your dream home
- Complete set of concept drawings with your review approval
- Final drawings and detailed to your exact specifications
- Budgeting along the way, so you know your options and all the related costs. Need something changed, no worries, we will let you know exactly what, if any, additional expenditures are involved
- We handle all city hall permit requirements on your behalf, to ensure smooth sailing without administrative headaches
- Construction and inspections. You dedicated project manager will over see the entire process from start to finish, dealing with all stages of the process and any questions you may need answered along the way
- Final walk-through to ensure your total satisfaction with the end result