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January 12, 2025 Laneway Home by aryo@myhomedesigner.com 0 Comments

Grant or loan to build a secondary suite or laneway home

Grant or loan to build a secondary suite or laneway home

The federal government has changed several items in offering loans or grants to Canadian homeowners that can assist them in building them faster.

Several changes are coming in 2025 that will impact building secondary suites, primarily driven by new federal initiatives in Canada. Here’s a summary:

Financial Incentives and Programs:

  • Increased Loan Limits: The Canada Secondary Suite Loan Program will double its loan limit to $80,000 in early 2025. This will provide homeowners with greater financial assistance to create secondary suites.
Burnaby laneway home
  • Mortgage Refinancing: Starting January 15, 2025, homeowners will be able to refinance their insured mortgages to finance the construction of secondary suites. This allows access to home equity for funding these projects.
    • Borrowers can access financing of up to 90% of the home value (including the added value of the suite).
    • Amortization periods can be up to 30 years.
    • The mortgage insurance home price limit for refinancing will increase to $2 million.

Other Considerations:

  • Municipal Regulations: While the federal government is introducing these changes, it’s crucial to remember that municipal bylaws and regulations still apply. These can vary significantly between cities and towns, so it’s essential to check with your local municipality for specific requirements regarding zoning, permits, and construction standards.
  • Infrastructure Fees: Some municipalities may introduce or modify fees related to secondary suites. For example, the Township of Langley in British Columbia will implement an Annual Secondary Suite Infrastructure Fee in 2025, collected with annual property taxes.

Key Takeaways:

The changes in 2025 are primarily aimed at making it easier for homeowners to finance and build secondary suites, increasing housing density and affordability. The increased loan limits and the ability to refinance mortgages will provide significant financial support. However, it’s crucial to stay informed about local regulations and any potential municipal fees.

I recommend checking these resources for more detailed information:

  • Canada.ca: The official website of the Government of Canada often has updates on housing initiatives.
  • CMHC (Canada Mortgage and Housing Corporation): This organization provides information on housing programs and financing.
  • Your Local Municipality’s Website: This is the best source for specific local regulations and requirements.

You can visit the government page here

There is more information about BC Housing and the grants and loans they offer here

We also help you to go through the process. All you have to do is to contact us and ask for Aryo

Vancouver laneway home

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April 11, 2023 Architect BlogLaneway HomeSenior life by aryo@myhomedesigner.com 0 Comments

Multiplex homes are coming to BC

Multiplexhomes are coming to BC!

BC government introducing legislation that overrides the municipal zoning regulations

There is a rush to build smaller homes in BC. I’m wondering how the municipalities will react.
So far, many municipalities in BC (with the exception of the city of Vancouver) have been reluctant to accept the idea of densification and having multiple homes on single-family lots.
But this all will change soon, as the government of BC is imposing a new act that requires all municipalities in BC to allow multiple units on a single-family lot, regardless of their zoning.

Smaller units on single-family lots mean home affordability!

Vancouver triplex home
Multiplex homes are coming to BC

Proposing a secondary suite on a single-family lot is nothing new, but now the government wants to build smaller homes that are shared with other owners to reduce the cost of home ownership.
The new act being imposed by the government of BC that requires all municipalities to allow multiple units in a single-family lot is indeed a significant change in the approach to densification. This can potentially address the issue of affordability and reduce the cost of home ownership, which is a commendable goal. However, it is important to ensure that this is done in a responsible and creative manner to avoid potential negative impacts on the community in the long run.
One suggestion is to highlight the benefits of smaller homes and shared ownership, such as increased affordability, reduced environmental footprint, and fostering of a sense of community through shared spaces and resources. Emphasize that smaller homes can provide an opportunity for families or individuals to enter the housing market at a more affordable price point, which can be especially beneficial in expensive markets like BC.

  • Makes homeownership more affordable for younger families and new immigrants
  • The existing lot footprint can home more families to live in a family-oriented neighbourhood
  • Create more rental units to combat the rental shortage
  • The use of existing lands is good for the environment and for the local economy
  • The forgivable loan offered by the BC government is a very good motivation for some homeowners to take action toward adding units to their homes, but it’s not enough!
West Vancouver coach home

It would also be beneficial to pioneer creative and attractive designs for multiplexes, rather than a “cookie-cutter” approach. This can help address concerns about the aesthetic impact of densification on neighbourhoods and promote innovative designs that enhance the overall appeal of the community. 
The city of Vancouver was proactive in that initiative and is moving forward to densification throughout the city which other municipalities have to follow suit. 

The city of Vancouver can share its experience in regard to the challenges has faced by creating smaller units.

This can provide a more comprehensive and informative analysis of the situation and potential hurdles that municipalities and developers may face in implementing the new act.

I had challenges with the city of Coquitlam and Burnaby when it comes to building a duplex on big lots. The city prefers to build a giant homes with high price tags with a secondary suite (in which two families can reside on it) rather than building multiple units owned by families who can afford the smaller price tag.
A 900 SF condo is selling for over $1 mil. in Coquitlam, but imagine if you have one share of a triplex in the same area, you can own it at the same price with a larger footprint and be able to share the yard with other owners.

It will be interesting to see how the municipalities respond to the new upcoming act.

In conclusion, the province is facing a significant number of new immigrants within the next 5 years and our housing shortage will cause a tremendous impact on the way our society will run. The sooner the municipalities act and create more affordable homes, the sooner we can resolve this issue. 

We are all working toward a better community. We can do it by opening the floor for dialogue and listening to all the ideas on the table.

Contact us if you need to know more about how can you make a difference and make your home energy efficient.

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March 29, 2023 Architect BlogLaneway HomeSenior life by aryo@myhomedesigner.com 0 Comments

Burnaby Laneway homes coming fall 2023!

Burnaby Laneway Homes coming in effect soon!

After many years of waiting, the city of Burnaby has decided to accept the fact that the city needs more housing options to combat the rental shortage. After going through the process, the city held a couple of open houses on March 28 and 29th and is expecting to present the program to the council’s approval in the fall of 2023.

Burnaby Laneway home
A sample of Laneway home in the city of Vancouver

Eligible Properties:

First and foremost, the lot has to have vehicular access either from a lane or from a side street. Some corner lots will require approval from the engineering department.
The Laneway home will be constructed at the rear of the lot.

The lot zoning should be on a single family zoning such as R1, R2, R3, R4, R5, R6, R8, R10, R11, R12, RM1, RM2, RM3, and RM6.
Please consult with us to see if your lot is eligible for building a laneway home by clicking here.

What size can we build on a lot?

The maximum allowed floor area of a laneway home is 20% of the lot size up to a maximum of 1,507 SF. 
For example, if your lot size is 7,000 SF your laneway house can not be more than 1,400 SF.
Other considerations such as site coverage and impervious area coverage will affect the size of the home as well.

  • The Laneway home can not be more than 2 storeys
  • The maximum height can not be more than 24.93 ft for a sloped roof
  • The maximum height can not be more than 21.98 ft for a flat roof
  • Passive house has some exemptions
  • Basement and sellers are allowed in laneway homes 
Burnaby laneway home
  • Only one parking stall will be sufficient for the house and laneway home
  • If you decided to build a garage and a laneway home, the area of the garage will be calculated to the total floor area allowed
  • If your existing house has a secondary suite, you are still eligible to build a laneway home

There are other restrictions such as sideyard and rear setback, outdoor space, distance from the main house, access, servicing and the construction method that all can be taken care of by our team as soon as our client has decided to move forward with the project.

There are many benefits of investing in a laneway home construction and we assure our clients we build the most cost-effective one with the best standard in the market.
Our business module is on win-win philosophy and we take pride in having many happy clients because of our work ethic. See what our past clients say about our services by clicking here.

Burnaby home builder
The laneway homes are a good way to generate income!

The city of Burnaby is aiming to accept building permit applications by September 2023. Considering the number of homeowners who would like to apply for the permit, there will be a huge number of applicants’ anticipation. 
The question is how the city can handle the number of applications.
We experienced similar situations in other municipalities and the backlog of applications is taking years to be taken care of.
If an applicant wants to wait until September 2023 to start their process, it will take about two months to have the initial documents ready to submit to the city.

By the time the documents are ready, there will be a huge number of applicants who applied for the permit already.

The best approach is to hire the company of your choice and have them have all the documents ready and as soon as the permit application is open to submit, your application will be one of the first ones.
Fill out the form below and let us help you to build your Laneway home sooner!

We are all working toward a better community. We can do it by opening the floor for dialogue and listening to all the ideas on the table.

Contact us if you need to know more about how can you make a difference and make your home energy efficient.

 

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December 14, 2021 Architect BlogLaneway HomeSenior life by aryo@myhomedesigner.com 0 Comments

BC Electrification by 2030. How would affect your home?

Home electrification by 2030

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