investing in a coach house – north vancouver real estate | brandon crichton

investing in a coach house – north vancouver real estate | brandon crichton


So you’ve just finished a conversation
with your neighbor about these laneway houses or coach houses. You know, what are they? what are the financial benefits? and how do you even get started? those are
the questions I keep getting asked as a local real estate agent let’s dive into
some of the basics and find out how we can get you started on one of these what is a coach house? Basically coach s
has been around for a really long time their ancillary homes or secondary homes
that are built on the existing lot they’re great for economic drivers like
rental income they’re great for future planning if you want to downsize into it
or you can potentially support dual families grandparents for grandchildren
living on the property with you whatever it is, it’s really about unlocking unused space in the backyard and just make it usable what is the
payoff to a coach house like this generally the resale value on a lot with
a coach house far exceeds the actual cost to build the coach house in other
words a coach house adds value where else can you get $2,800 / month for
something that you put $250,000 – $300,000 Here in the City of North Vancouver in certain pockets you can actually have
a secondary suite and a coach house. 2 income-producing properties!! now you’re at the stage where things get exciting you’re gonna want to interview builders
and understand what they’ve built in the past you’re gonna want to builder that’s
built coach houses they know that every square footage must be usable and very
intricately designed secondly that builder is gonna help you through the
process with the city they’re gonna develop a site plan that you’re gonna
take for a pre application process to understand what you can build. You’re
gonna want to work with your builder and your municipality is by laws are
changing pretty quickly they’re gonna help you with deciding how big you can
build a coach house and obviously how tall that Coach house can be in the City
of North Vancouver they’re building 750 square feet upwards of 1,200 square feet
coach houses when my wife and I made this decision to take this coach house
challenge we have two dogs two kids so kitchen space was incredibly important
same with having pets owns and zones outside and making sure there’s
enough storage to fit our lifestyle. So you really want to make sure that you’re designing something really desirable for the end-tenant to make sure you’re
maximizing your rent. Municipalities can help you and so can your builder or your
local real estate agent. Other things you’re going to want to look into is the Residential Tenancy Act – having a coach house and renting it out makes you a
landlord and you’re going to want to familiarize yourself with that so considering the potential of the
coach-house can open up a ton of opportunities whether you’re a new buyer
or an existing homeowner it allows for future plans or even a great rental
income find out more let’s get in touch and work on finding you a coach house LOT!

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