As real estate prices continue to climb, more and more homeowners are opting to increase their property value (and income) via creative means. Owning a home has become unaffordable for most people forcing working professionals to rent well into their 30s.
Laneway homes seem to be the solution. What was once a growing trend in the lower mainland is now spreading across the country. Here are 10 reasons why you may want to consider hiring laneway home builders in Langley.
When people think of alleys, they tend to associate them with a crime or shady characters. Laneway houses add light and activity to an otherwise dark and well-hidden part of the neighborhood, therefore reducing crime.
Dress Up an Otherwise Drab Corner of your Property
Some laneway homes are meant to live in while others are used as an activity space or leisure space. Either way, you can customize your laneway home to complement your original house, making it a much more attractive choice than a shed or clubhouse.
Renting is much less appealing the older you get, but unfortunately, the current market doesn’t leave many buying options for the middle class. Laneway houses offer an affordable solution to young couples, small families, or single people who crave a safe space to call their own.
Meets the Demands of the Growing Population
Housing needs are quickly surpassing availability. Laneway houses can be built more quickly than larger houses, condos, or apartment buildings.
Smaller homes require fewer resources. The amount of building materials is greatly reduced. Additionally, laneway homes require less water, less energy consumption, and can easily run off of solar power or other green energy sources.
Increases Your Property’s Value
Depending on where you live, your property value can easily increase by 10% with the addition of a laneway home. Some areas even have laws permitting you to sell your laneway home while holding on to your original home.
Keeps Families Together
Adding more living space to your property lets you keep your family members close. A laneway home provides a great housing option for parents who are older or are sick, for your adult kids studying at college, or for newlyweds who are just starting out.
If you need (or even just want) some extra monthly income, renting out your laneway house is a great way to bring home more money without sacrificing much of your time.
Lets you Downsize Without Moving
Alternatively, once the kids are out of the house you can move into your laneway home while renting out your bigger house, reducing your monthly expenses while increasing your income.
Laneway Houses are Buyer Friendly
With all the hype around laneway houses, it’s no wonder more first-time homeowners are interested in investing in property that comes with a laneway house.
So, what are you waiting for? If you own your home, book a consult with Nicons Enterprise, trusted laneway home builders in Langley.