Multiplex 4 Unit Conversion In Toronto | Laneway Home | Garden Suite | Max Suite Strategy
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- Опубліковано 19 тра 2024
- In this video we check out our client Natasha’s brand new laneway home in the heart of Seaton village in Toronto, Ontario
Natasha implemented the Max Suite Strategy to first add in a beautiful laneway home, and is now converting her principal dwelling into 3 units - for 4 units in total!
The beauty is that this is all As-Of-Right with no development charges on the main house (DC deferrals on the laneway home), and no minimum parking!
0:00 - Intro
0:49 - Difference between a laneway home and a garden suite
1:36 - Natasha's MAX Suite Strategy
2:45 - Parking requirements
3:19 - Outdoor amenity space
3:35 - Inside tour of Laneway home
4:41 - Costs for Laneway home
5:30 - Building up to 5 units just passed - Toronto Multiplexes
5:49 - Development charges for 4 unit conversions
7:13 - Outro
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Read the more detailed blog version of this video to get more info: 📚 👉www.suiteadditions.com/blog
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Details about our in-person Max Suite Strategy Training Program is up!
Are you ready to be a Max Suite Pro?
Are you ready to potentially unlock hundreds of thousands in value for each and every property……using the Max Suite Strategy?
If the answer is yes, then we have the ultimate training for you.
www.suiteadditions.com/training for more information and to apply
In this comprehensive in-person program, you will learn the principles, strategies and tactics that we and our clients implement on each property to maximize its long term value.
Gain the experience, knowledge and skills acquired from our 8+ years and 400+ projects with additional suites, helping investors and homeowners gain unparalleled value.
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Download Our NEW Garden Suite Guide and a copy of our 8 - Point Checklist & Second Suites Beginners Guide.
📚 👉 www.suiteadditionspro.com/garden-suites
Hire Us For Your Project! You can always hire us for a Zoom or in-person consultation for your suite conversion, or hire us to help you with your suite design and permit drawings. (Consultation fees can be credited towards any design and permit package you choose to pursue. So it's a win-win!)
✉️ 👉Connect With Us: www.SuiteAdditions.com/contact
IMPORTANT* This guide is intended for informational purposes only. DO NOT rely on the information in this guide for any real estate transactions. Since every property is unique, you must perform your own due diligence with the City and with a professional consultant. Suite Additions Inc., and its affiliates are not liable for any loss as a result of information you receive in this guide.
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Nice job.
Great video by the way. Thanks for sharing the info
Our pleasure!
Thankyou for the effort you put into your videos. Your presentation is very informative, however the music feels like you're on speed and makes it hard to concentrate on what you're actually saying.
This is exceptional content and I'm grateful. Nice work guys. 💪
Thank you
@@suiteadditions: I was being facetious. My dreams for Toronto isn't to make it more like Mumbai, or the hillside slums of either Buenos Aires or Lima. Been a Toronto resident for 50 years, and until recently I owned a single family home in the burbs. With the new housing policy, that is simply reacting to the vocal minority, all I own now is my single family home that I cannot actually sell to a family to live in and raise a family. Now, I can only sell it to a developer whom will change it into either a fourplex or a rooming house. The new housing policy will NOT do anything to resolve the affordable housing issue and it certainly won't force property values down. I will wait until a couple of properties on my street are converted to 4 plexes; then I will sell at probably twice the price as I would sell it as a single family unit; take my money and buy a nice piece of lakeside property down by Goderich or similar location.
Good to learn some insights. I have a question about that studio vs laneway price comparison. Is $500,000 paid for the construction mortgageable? If not, who would invest that much equity with such a low short-term return. Second mortgage lenders get almost %12 return these days. And one more question, can you include that laneway suite on your title? Is so, would it increase the price of the unit accordingly? Thanks for your effort on this video.
Some would be able to get construction loan, but most would use equity in existing house.
Very nice!
Can it be severed after it is built?
Unfortunately not
Personally, I love this concept. I just moved here from Mumbai and this housing concept reminds me so much of home.
😂 yea right.
My question is how does the sewage servicing work? Can a typical street handle many of these conversions? A second question - there's a company from Germany where you can lease or buy a ready made unit that can be set up immediately. Is there any such provision in the new bylaws?
The city engineer will assess capacity issues on the storm and sanitary sewer systems.
hello there can i put the garden suite in the front of the lot
No you cannot
Can you build additional suites ..up to 5 ..any where in Ontario?
Only 3 in most of Ontario. 4-5 is Toronto.
@@suiteadditions Thanks only in urban areas? As long as the zoning is residential?
Is it possible to build an ADU in front of a large front lawn?
Not possible unfortunately
@@suiteadditions thanks
I have the perfect lot for this but how does it make sense .?
All these houses can be rented ‘as is ‘for the income of 2-3 of these units.
So you would go into debt for a minimum of 1-2 million to add an extra 1-2 units ?
On top of that you have a government with aspirations to be the biggest landlord of Canada in the near future which will be your competitor.
To me this is just another scheme to bankrupt small landlords please someone tell me different.
Why would the hell would anyone wanna be an landlord in Ontario! It can take you an year too get rid of an bad tenant.
I still can't see how an ADU could cost $500 /sq ft to build on land you already own.
Then the only risk is getting a good tenant who wont screw you over and the LTB does not help landlords.
That's why so many baby boomers have houses with just two people but they don't want to rent out because the LTB law is unfair to the landlords... this causes low rental supplies..LTB needs to think out of the box
Nice place for sure. No parking is a favorite for cities and developers to save a lot of money and really cram people together. And developers make massive value off the square feet. There is no room to grow and doesn't promote families at all. Only the rich can afford to drive. Not everyone can use an electric bike to get around or even safe in cities like Toronto. Canada has so much space yet acting like a tiny country. Even experience with rats shows density is not healthy. No thanks.
Parking is actually a hidden cost for everyone. Suburban sprawl and its damaging effects are now felt in public balance sheets. Densification and removing parking mandates make sense and are a way to mitigate decades of urban mismanagement. Great book called "high cost of free parking" discusses this in detail.
I live in Toronto and I'm in favour of preventing people from driving. However, these people are planning on cramming people into the living space and *gouging* them on rent. So it's gross either way.
@@suiteadditions That's fine, but you can't take away parking and have no suitable alternatives that are reliable. In Canada, public transportation is notoriously slow, poorly planned, mismanaged, inconsistent, and safety issues. You can't take parking away and think it is Europe all of a sudden. Until then, we need vehicles with parking. Having less cars is ok, but not under the current conditions.
@@FunkyLittlePoptart That's true. Corporations are buying up places and then renovicting and exactly, gouging citizens. The government doesn't really care that much as they make a large tax windfall with real estate, so the higher the cost and more turnover with sales, the better as far as government is concerned. In BC most people can't afford a home and have to live with multiple roommates and multiple jobs just to make ends meet. What kind of life is that? Of course, better than war or poverty, but ridiculous for all the talk here.
@@travp7688 Move to Winnipeg.
So….. this is now a business, so you should have to pay business taxes and insurance.
Yes we should and do