There’s a recent spike of laneway housing or laneway suite around Toronto so, let’s find out what they are, their benefits, and how to build one.
KEY TAKEAWAYS
Extra living space in your property.
Could provide extra stream of income.
Increases lot resale value.
Possible extra noise from the laneway house.
WHAT IS LANEWAY HOUSE/SUITE? Laneway houses or Laneway suite are, simply put, a small detached, semi-detached, townhouse, or other low-rise home within your home lot. Think of it like a shed on your backyard but big enough for people to live in. Laneway houses can take up about 16% of your total lot size + an additional 40 sq ft of storage. Pretty nifty, right?
WHY BUILD LANEWAY HOUSE/SUITE? You might say, “Well, I have enough space in my house. Why build another?”. Laneway houses/suite can be beneficial in many ways and it’s really up to you on how to utilize them base on your needs.
- Your kids are getting older and needs a place to call their own but financially incapable? Laneway house/suite is best for them. - Kids moving out and now you feel the house is too big? Build a laneway house/suite to move in and rent the main house for an extra income! - Need that extra income without moving out? Build a laneway house/suite and rent it out!
Laneway house/suite also significantly increases your lots resale value so there’s really nothing to lose here! Not unless you don’t feel like having someone else near or hearing extra noise that might come out from the laneway house/suite.
HOW TO BUILD A LANEWAY HOUSE? If for you, the pros outweigh the cons, here are the basic things you need to know to have a laneway house/suite:
1. Assess costs and requirements – This involves looking up on the basic necessities of a household such as water and sewer connection, electrical services, gas installation, etc.
2. Pre-application review – Prepare a site survey along with other plans for engineering, design, and landscaping for review.
3. Apply for a laneway house/suite – Submit the requirements for the application of a laneway house/suite and wait for approval
These are merely guide of what to do or expect for building a laneway house/suite. For more information you can contact us here at YOU Group and we’ll be more than happy to help!
We hope you enjoy reading and found this article about laneway house/suite helpful! If you had specific questions, you want us covered, kindly let us know on the comment section below and we’ll dive right to it.