With real estate prices continuing to climb, investing in a laneway home can be a great way to create additional living space, increase property value, and generate rental income. In this article, we are going to be discussing how laneway homeowners can capitalize on three benefits.
With a laneway home, you add living space to an existing property. The additional space can be used as a rental unit, a guest house, or a place for your children to start a family in.
Houses with a laneway home are great for elderly citizens or young families starting out.
Higher Property Value
With housing prices constantly rising across the Lower Mainland, laneway homes are an affordable way to create additional living space in coveted locations.
Properties with a laneway home provide additional space and rental income potential, making them highly coveted by prospective buyers in Vancouver.
Additional Income Possibilities
One of the most common reasons for building a laneway house is the additional rental income. The income that is generated from renting out a laneway home can be used to supplement retirement savings or help pay down the existing mortgage.
As you can see, there are a few benefits of having a laneway home. When professionally built, a laneway home provides a great return on investment and comfortable living space for extended family.
If you have any questions about laneway homes, Best Builders can help. We specialize in designing custom homes in Vancouver, and we have decades of experience designing laneway homes.
Best Builders has been renovating existing homes and building new ones for over 20 years. They are a multiple-award-winning builder that brings fine craftmanship to projects, turning dreams into reality. If you have any questions about this article or would like to talk to us about your home project, please call us at (604) 943-2378 or email us at email@example.com