Are you looking to create a rental property or perhaps looking to rent for yourself? A laneway house could be the solution to your unanswered questions.

For certain areas, like Vancouver with an additional 1.2 million people planning to move in with the coming years, housing is becoming difficult to come by. Read on to learn more about what laneway houses are and how they defer from coach houses.

What is a Laneway House?

A laneway house is a smaller home built on property where another home preexisted. This is a situation rising in popularity across Canada.

These homes are generally built to the rear of the original home. This is where the name ‘laneway’ came from as the homes generally face back toward the laneway behind the house.

You’ll most commonly find these laneway houses being built in high-population cities. Most often, it will be built in place of a garage.

Benefits of Laneway Houses

Laneway houses introduce a number of benefits to their owners. The most obvious being the ability to generate some side-income through renters.

Other benefits to take into account when considering a laneway house include:

• Boosted property value
• A home for extended family or children
• Improved chances of resale
• Affordable housing for your growing community

Drawbacks of Laneway Houses

Building a new home can be a headache. With laneway houses, you should expect to battle for property attributes and zoning regulations. You’ll also need to get pre-approval as with any normal house. After this comes permits, inspections, and then finding tenants.

Of course, you can find professionals to help you along all of these steps.

Other Options: Coach House

Coach houses are similar to laneway houses in that they exist on the property of another house. Coach houses are far less common in cities than in rural areas. If you are located in Vancouver, Ottawa, or Toronto and you’re looking for a coach-style home, you’ll actually want to search of a laneway home instead.

These laneway homes will be far more common and easier to track down than coach houses.

How to Get a Laneway House

Teaming up with a contractor will help you gain valuable perspective and insight into laneway houses. These homes must follow certain regulations in order to be constructed and maintained. Always ensure your laneway home is adhering to the guidelines and restrictions of your community.

If you do decide on this type of house, consider a business such as Laneway Home Renting Vancouver to see if laneway home living is right for you. You can work with contractors to guide you through building or renting a laneway house.

Building Your Home in a Laneway House

Perhaps a laneway house isn’t fit for every situation, but it does come with it’s added benefits. Given the current housing situation, it’s worth speaking with knowledgable contractors about the pros and cons you would gain from a laneway house.

For more real estate information, check out our latest blog posts.