Laneway Houses Vancouver
We are seeing a massive shift in Real Estate needs in today’s market, as many millennials are not able to afford owning a single-family home, let alone apartments/condos in Vancouver. The older generations are shifting away from purchasing single-family homes and instead, are choosing to renovate or extend/attach onto their current homes.
We are also seeing more homeowners looking to accommodate an extra generation or two on their current property. They are achieving this by creating multi-dwelling units in their current home or building laneway homes. This allows the homeowners to earn a second income or provide their children or grand children a place to live.
Based on the most recent federal census, multi-generational households are the fastest-growing household type in Canada. From 2001-2016, the number of households with a minimum of three generations living under the same roof grew by 37.5 percent.
Because of this shift, people are considering renovations with a long-term perspective in mind.
The City of Vancouver has recognized this shift and has taken the time to review the current bylaws for laneway homes and has made it easier for homeowners to obtain permits for them. According to the municipal government, the City’s goal is to allow 4,000 new laneway houses to be built over the next 10 years.
At FairTradeWorks, we understand the ever-changing market. We’re always ready to meet new clients and partner on projects of all sizes. The FairTradeWorks difference can be found throughout our concierge-style construction experience. When you work with us, you’ll work directly with an Advisor who will be your single point of contact. Our Advisors ensure that the process from concept to