A laneway home, commonly referred to as a carriage house, accessory dwelling unit (ADU) or garden suite, is a small home built on an existing home’s property. These units are self-contained and can be used for a number of different purposes. Whether that be vacation rentals, housing family/friends, or as a home office. If you are thinking about adding a laneway home to your Comox Valley property for sale, you’ve come to the right place! In this article, we will be going over all of the advantages of why you should build a laneway home. Follow along below to learn more!
The Perks of Having a Laneway Home on Your Comox Valley Property for Sale
- Generate Extra Income
One of the biggest benefits of having an ADU is that you have a large opportunity to generate extra income. Renting out your laneway home can provide you with additional monthly cash flow. This is great for those who are interested in finding ways to pay off their mortgage, travel more, or retire sooner. If your property is zoned correctly, you could even consider doing vacation rentals. Overall, the possibilities for bolstering your income are limitless when you have an ADU!
- Add Value to Your Property
Another awesome perk to having a laneway home is that it will add value to your property. Even if you don’t rent out your garden suite, when it comes time to sell your home, this additional living space is likely to boost your profit. This is because an ADU provides buyers with so much flexibility and opportunity. For instance, if a buyer needs space for a home office, a property with an ADU will be an enticing option.
- Create a Multipurpose Living Space
If you decide against renting your laneway home, it can be converted to fit a number of different needs. For example, a home gym so that you can work out in peace and without any additional costs. Or, as a guesthouse for when friends and family come to visit. Other options include a home office, teen hangout spot, kid’s play area, workshop, or entertainment space. This flexibility is great for those who spend most of their time at home. An ADU is a great way to provide separation between work and play. They are also great for growing families that need more privacy/division.
- Multigenerational Living
Besides generating income, one of the main reasons that people choose to build ADUs is for multigenerational living. Since COVID-19, multigenerational living has become increasingly popular. However, in order to maintain some privacy, many homeowners opt to build ADUs. If your parents need support or you have adult children who need a place to live, an ADU can provide the space they need without sacrificing everyone’s privacy.
- Support Family From a Distance
A laneway home is also a great option for those who need to take care of family members with disabilities or illnesses. An ADU provides the person in care with some independence, while still affording the ability to get assistance when needed. Having this option can make caretaking much easier and less stressful.
- Create More Housing in Your Community
Lastly, a large perk of building a laneway home is that you will be creating additional housing in your community. Given Canada’s high cost of living, it is important that more affordable housing options are created. Carriage homes can help alleviate housing problems by generating more spaces to live in high-density areas. If you can, consider building a carriage home to help create more housing options for members of your community.
Laneway homes are typically quite small and can be an excellent option for a sustainable home. Especially, if it is built with energy-efficient appliances and materials. In addition to this, ADUs usually use fewer resources to build and maintain compared to full-size homes. If you want to create more sustainable housing in your community, consider investing in a carriage house!
Contact us Today
If you are curious about what other perks come with building an ADU on your Comox Valley property for sale, we encourage you to contact us today! If you have any questions about real estate in the area, be sure to reach out to us! We are excited to get your summer real estate goals on track. A house in Comox Valley is a great lifetime investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check out our social media here, and return next month for more real estate-related content! We look forward to working with you in the near future.