Everything you need to know about building a Coquitlam Laneway Home
The affordability crisis combined with a diminishing number of rental units is the talk of the town in Metro Vancouver. Residents of the region are fed up with the state of the housing market, and are calling for government action on the situation. However, there are solutions to this problem that can be enacted by any home owner living in the proper zoning. Constructing a Laneway Home, a.k.a. Carriage House or Backyard Suite, has the positives of increasing the owners’ property value, decreasing the mortgage payments, and offering new living opportunities within the city. We have mentioned Laneway Homes and Carriage Suites previously, but due to revised bylaws, we are now going to focus on Coquitlam laneway homes.
It has never been easier to construct a Coquitlam laneway. Anywhere in the city with RS-1 and RT-1 zoning are eligible for laneway development. In laymen’s’ terms, this is any detached house on a singular lot with access to a back lane, or sitting on a corner lot. If your home has a garage in the backyard, then you are most likely qualified for a Coquitlam laneway!
As seen in the floorplan of a typical laneway home, a unit will typically consist of two floors with a kitchen and living area on the ground floor, with a bedroom and bathroom on the top floor. Within the City of Coquitlam, laneway homes can be a maximum of 900 Square Feet, meaning that 2 bedroom designs are available. Each Coquitlam laneway needs to have at least one parking stall for the tenant. A common design for laneway homes is a 2 car garage on the ground level, with the suite upstairs.
LaneFab Design, based out of Vancouver, are on the forefront of Laneway Home designs within the city. With architecture varying depending on your preferred style, LaneFab is able to design and build a Coquitlam laneway for anywhere between $250,000-$275,000. This price range includes site preparation, home design, and construction. Modern designs are now including solar panels on the roof of the units to power both the laneway home, and the house.
The population of Coquitlam is going to continue to rise with the opening of the Evergreen Line in December. With an influx of almost a quarter-million new residents into Coquitlam, the time to build a laneway home is now. As a home owner, this is your chance to greatly increase your property value, cut your mortgage payments by collecting rent, and contributing new living spaces to your city.
If you have anymore questions about constructing a Coquitlam laneway home, please contact us. With the Tri-Cities in mind, check out our crawl of the new craft breweries in Port Moody.