Inside a $200,000 Laneway House Secondary Suite in Calgary - Calgary Real Estate
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- Опубліковано 26 лип 2024
- Laneway houses are gaining more in popularity as home prices continue to be out of reach for many buyers. They are also popular with investors and current homeowners who want to build an asset for themselves and their family for the future. Before we speak more about what a laneway home is, there are many different names for these types of homes in different parts of Canada. They could also be referred to as:
* Carriage House
* Backyard House
* Secondary Suite
* Laneway Suite
* Backyard Suite
* Backyard Home
* Mother in law suite
* Backyard in-law suite
Given the different names it’s best to find out what it is called in your local area but here in Calgary, the city of Calgary refers them to as a Backyard Suite. Calgarians also call them a Carriage House, or Secondary Suite.
In Toronto (Ontario) they are mostly called a Laneway home.
A laneway home is a home that is built on an existing piece of land in the backyard not attached to the main home. It could be built on the ground level or most often on top of a detached garage (can be double or triple). It is a completely self-contained home that includes bedroom(s), a bathroom, kitchen, living space, and laundry.
The city of Calgary requires Secondary Suites to have at least one parking stall (could be in the garage or outside), as well as some outdoor space.
A backyard house is very popular for many reasons and is suitable for all kinds of situations - home owners, investors, or big families. Laneway or backyard suites add value and income to an existing lot and the price to build is about the same cost as a condo (at least here in Calgary).
The ability to purchase an existing home with a laneway home is advantageous to a family because they could use the rental income to help qualify for a bigger mortgage which could include a backyard house.
Felix Chan, Jasben Lai, and Zach Shultz from The LiveInnerCity Real Estate Team gives you a tour of this lane way home and shares the cost to build a carriage House in this video.
Chapters
0:00 - Introduction
0:16 - What is a Laneway House?
0:59 - Why Laneway homes are so popular
1:48 - The Best Part of having a Backyard Suite
2:50 - Secondary Suite Home Tour
3:20 - Kitchen Island design
4:37 - Investment Tips for Laneway Houses
5:01 - Living Room
5:38 - Patio
6:24 - Bedroom with a vaulted ceiling
6:56 - Bathroom with a floating cabinet
7:25 - Bedroom #2
8:16 - The cost of building a Laneway House
8:37 - The cashflow of having a Laneway House
10:01 - Recommendations for Laneway Homes
10:47 - Lessons Learned based from our Clients' Experience
11:24 - Closing
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Felix Chan & Jasben Lai are Calgary Realtors with the LiveInnerCity Real Estate Team in Alberta, Canada. Felix is also a Calgary Mortgage Broker and Real Estate Investor.
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• Inside a $200,000 Lane...
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Could you see a laneway house as a good short term rental like Airbnb? What are your thoughts on these backyard suites?
This an amazing offer indeed
Glad you enjoyed it!
Thanks for the video! I am actually planning to build a laneway house and this helped me a lot!
Just a tip for the next video: some parts of the video I couldn’t actually pay attention since it’s funny to watch Zach holding the microphone for you guys with empty hands😅 so I had to watch again
Hahha thanks for the tips Daniel! Glad this video helped you and best of luck with your build buddy! 😆
I like it
Great property but when it comes to having it as rental property as per your example, realistically the cashflow can be negative if including utilities, repair/emergency cost, and vacancy.
Hey @MJBG! I never include utilities in the rent, the tenant pays for it in their own name. Or you could charge an extra $400/mo or so to cover utilities. A good landlord shouldn't have any vacancies, a lot of our clients (myself included) have had properties for over 10 years and not one month was ever vacant so its about managing it properly. Repairs is part of the cost of home ownership, no different than owning a car - but the financial gain you get from rentals will far outweigh the cost of repairs! 😉
Nice looking place. To clarify, was it built on top of an existing building/foundation? If not, I expect the cost would be substantially more?
No, the foundation was poured with the intention of building this two-story building. Normal garages only have a concrete pad, which is not sufficient to build a laneway house. The foundation would need to go deep underground like a normal house foundation
@@LiveInnerCity If there is deep foundation would be good to build a basement too?
Hi im just wondering about how you mentioned that the suite requires a designated parking either inside or outside. When you said outside, does that mean the renter can park in the backyard laneway road or they can park in the front of the main house on the main road? I want to build one and rent one but i want to keep the garage part to myself because my main house has no garage. I want to rent the garage suite the same way you rent a basement. Thank you
Hi @gbreezie! At the time of making the video, the City's rule was the designated parking needed to be a single garage or beside the garage outside. You cannot park it in the alley or on the street in the front of the main home. I would check the city's website and when you make an application to build one, they will advise you what the rule is at that time. The city changes the rules and requirements consistently so its always best to read their website or call to get the most current info! This website should give you a good start - www.calgary.ca/development/home-building/new-backyard-suite.html - Good luck my friend!
@@LiveInnerCity Thank you so much! You're very helpful.
You're welcome! Just message us if you have questions about real estate 😄@@gbreezie
I have a question, I have a big yard no garage no nothing on it, can I do 2 backyard suites? 1st and 2nd floor?
I don't think so, I haven't seen or heard of any suites structured like that. Parking will be an issue and it also depends on where your property is and the zoning the city will allow. You can see the requirements and if your property is eligible for a backyard suite here: www.calgary.ca/development/home-building/new-backyard-suite.html
How much square feet is the laneway house?
Around 800 SF
Unfortunately cant have a secondary suite (basement) + laneway home!
Not yet ..... lol. The city is rezoning the innercity so give it a few years. Plus the money you spend on a laneway home, its better off to buy another rental! Contact us 😉 hello@liveinnercity.com
What area is this?
This is in Banff Trail in the NW by the University of Calgary
But no view
Hard to have it all! When comparing this to other rental properties or condos with similar rents, I think most people would prefer to have a standalone unit with no neighbours so it depends on what you value more
It’s a laneway home my guy