Forget a garage, lets build a second home - what many Vancouverites are saying.

 

A Laneway home, known as a "coach home" on the Eastcoast where their existence is more prominent,  is essentially a secondary dwelling built in the rear yard of a home most commonly along the rear alley entrances of detached homes. 

 

The first Laneway homes in Vancouver were built in 2009, currently much regulation exists in their design and the potential for additional rental housing they could bring to the Vancouver market has not been fully utilized. This is what the city of Vancouver is trying to change, in an effort to increase housing for Metro Vancouver's growing population.

 

 

                    

 

 

Relaxing design regulations for Laneway homes aims to promote increased construction of these 1-1.5 story homes. Currently, the average lanehome in Vancouver is 512 square feet and the proposed changes will allow for a maximum size of 680-1100 square feet, depending on the lot size of the existing home.

 

Lanefab - a company which specializes in the construction of these homes, has created some trendy laneway homes as seen in the pictures above. Expect this market to grow over the coming years and its adaptation to grow in municipalities outside of Vancouver. 

 

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Thinking of Buying a New Home in 2013 ?

HST disappearing as of April 1st, 2013

 


If you're thinking about purchasing a new construction home this year then you've likely heard all the talk around the HSTdisappearing, the return of GST and the applicable 2% Transitional tax. The switching back and fourth from the GST era has created a large grey area for home buyers wishing the purchase a new home.

Depending on when you purchase your home and when you actually take possession of your new home, you may be paying the full HST of 12%, or GST of 5% + 2% transitional tax, or simply 5% GST.

The BCREA has created a simplified calculator to determine the final dollar amount you will owe, including all applicable rebates and grants. Click here for this HST calculator and for more information on the transitional rules and FAQ's please click here.

Feel free to contact me anytime to answer your Real Estate questions and assist in your buying or selling experience. 
-Aly 

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