As life evolves, so do our needs for living spaces. Whether it's accommodating a growing family, welcoming aging parents, or seeking additional income streams, homeowners often find themselves contemplating how to adapt their properties to better suit their changing lifestyles. From new builds to multiplexes, let's explore the various options available to homeowners in Vancouver (and in municipalities across BC), and the pros and cons of each:
1. New Build
This typically involves tearing down the existing house and building an entirely new one on the property. If your existing house is in such dire condition that renovation is difficult, this may be the ideal option. On the other hand, if you live in a heritage building, demolition may not be allowed.
Ideal for:
- Homeowners seeking complete customization without constraints.
- Property with a dilapidated house that needs to be torn down.
Benefits:
- Allows for full customization according to your specific needs and preferences.
- You can incorporate the latest in design, technology, and energy efficiency.
- You’re not bound by the limits of having to work around an existing structure.
Cons:
- Typically an expensive option.
- You will need to find another place to live during construction which can take anywhere from 8 months to a year and more.
- It may also have a higher environmental impact due to demolition and construction waste (though some materials may be salvaged).
2. Renovation
If building a new house is not an option, a more cost effective way would be to work with what you already have. Even small changes can make a surprisingly big difference in the livability and usability of a space. This may involve moving walls, rearranging rooms, making better use of underused spaces, and adding flexibility to spaces via furniture and layout.
Ideal for:
- Those who wish to preserve the character of their property while making it more livable and functional.
- Heritage or character house.
Benefits:
- Preserves the character and history of the property.
- Can be more cost-effective compared to a new build.
- If the area of renovation is limited in scope or can be done in phases, you could possibly remain in your house during construction.
Considerations:
- Limited by the existing layout and structure.
- Renovation projects can take just as long as a new build depending on the condition of the existing structure and extent of renovation.
- Extensive renovation may require that you find another place to live during construction.
- Extensive renovation may also trigger a requirement to upgrade the building performance of the house to meet modern standards.
- Hazardous materials, such as asbestos and lead, will need to be taken care of by professionals.
3. Extension:
An extension involves adding extra space to the existing home by expanding the footprint of the property or by going up or down. An extension typically also involves a certain degree of renovation of the existing house.
Ideal for:
- Homeowners who desire extra space without moving and want to enhance property value.
- Heritage or character house.
Benefits:
- Provides additional living space without the disruption and expense of moving to a new home.
- Enhances the property's value by increasing square footage and improving functionality.
- Allows homeowners to customize the extension to suit their specific needs and preferences, whether it's adding extra bedrooms, a larger kitchen, or a home office.
Considerations:
- Requires careful planning and design to ensure the extension integrates well with the existing structure and architectural style of the home.
- Allowable area for extension is limited by zoning.
- Construction of an extension can be disruptive to daily life, with noise, dust, and temporary inconveniences to be expected during the building process.
4. Secondary Suite:
A secondary suite is a self-contained dwelling unit located within a single-family dwelling or duplex. These suites are typically smaller and have separate entrances, kitchens, bathrooms, and living areas. They are suitable if a certain level of privacy and separation is required.
Ideal for:
- Individuals seeking flexibility for multigenerational living or rental income.
Benefits:
- Offers flexibility for multigenerational living or hosting guests.
- Can be achieved relatively easily if you have a basement that can be converted.
- Can be rented out for extra income.
Considerations:
- There are many requirements to legalize a secondary suite such as minimum floor area, smoke alarm, and outlets.
5. Laneway House
A laneway house, also known as a coach house or carriage house, is a detached dwelling built on the same property as an existing house, typically located at the rear and backing onto the lane.
Ideal for:
- Homeowners needing extra living space or rental income without sacrificing privacy.
Benefits:
- In Vancouver, the building permit application process for laneway houses has been streamlined and can be done online through the city portal.
- They offer a separate living space while still being close to the main house, providing both privacy and convenience.
- Can provide additional rental income. In fact, half of my clients build a laneway house to rent out.
- You can stay in your principle dwelling while the laneway house is being constructed with minimal disruption to your day to day life.
Considerations:
- A laneway house can occupy a large portion of your backyard, potentially impacting outdoor space and landscaping.
- Zoning and permitting regulations for laneway houses vary by location, so it's important to research and understand the requirements specific to your area.
- In most jurisdictions, laneway homes cannot be stratified.
- In Vancouver, you cannot build a duplex on a lot with a laneway house.
6. Duplex:
A duplex is a residential building that consists of two separate units, each with its own entrance.
Ideal for:
- Those seeking separate living spaces with the potential for rental income, whether for multigenerational living, shared living arrangements, investment purposes, or property development projects.
Benefits:
- Can generate rental income from one unit while living in the other.
- Each side of the duplex can have a secondary suite, totalling four suites that can each be occupied by a family.
- Offers flexibility for multigenerational living arrangements, allowing family members to live close by while maintaining separate residences.
Considerations:
- Shared ownership and maintenance responsibilities.
- Yard space may be small or awkwardly divided between the two halves if not designed properly.
- In Vancouver, you cannot build a laneway house on a lot with a duplex.
7. Multiplex
A multiplex is a residential building containing 3 to 6 units, designed to maximize density and land use. This option is suitable for someone looking to accommodate a larger extended family or investors looking to generate multiple rental income streams.
Ideal for:
- Homeowners who want to maximize the potential of their property without rezoning.
- Property developers or investors aiming to maximize rental income streams.
Benefits:
- Maximizes density and land use, making efficient use of available space in urban environments.
- Provides multiple rental income streams, enhancing the potential return on investment for property developers and investors.
- Offers housing options for a diverse range of residents, including individuals, families, and seniors, contributing to community diversity and inclusivity.
Considerations:
- The most complex and costly to develop out of all of the options.
- Maintenance and management of multiple units can be challenging and require ongoing attention if rented out.
- Regulatory requirements and zoning restrictions may limit the feasibility and profitability of multiplex developments in certain locations, requiring careful due diligence before proceeding with a project.
How we can help you choose the right solution
Each option offers unique benefits and challenges, and the best choice depends on factors such as family dynamics, budget, space availability, local regulations, and long-term goals.
When navigating the myriad options for transforming your property, you may find yourself overwhelmed by the possibilities and considerations involved, and that's where we come in. With expertise in design, construction feasibility, and regulations, we guide you towards informed decisions tailored to your needs.
From assessing your property to understanding your lifestyle, we propose solutions that optimize space, functionality, and aesthetics. Whether it's making room for family members or exploring income-generating options like secondary suites, we provide invaluable guidance every step of the way!
