A new type of affordable housing is on the rise across Canada and it’s not old school basement suites, tiny condos or repurposed shipping containers.
A coach house, or laneway home is an accessory residential unit (ARU) on an existing property, usually built in the backyards of single-family homes, or duplexes. Most coach houses average 700 square feet per floor and can be 1-2 stories, some with garages and without.
Although municipal bylaws can vary depending on the location, you can usually avoid time-consuming and costly zoning challenges like you would with a brand-new build on a vacant property.
Here’s an example coach house project Visture is currently building here in Peterborough!
So, why is this such a game-changer for real estate investors? The emergence of coach houses or laneway homes is making it easier for people to balance the high cost of living in popular suburban areas, and for real estate investors to add supply to the marketplace, while generating additional rental income. Coach houses are a great way to completely level up your real estate portfolio and secure your financial future without having to overhaul your investing strategy. You can reap the benefits of a multi-family rental income without having to actually venture into multi-family, commercial or industrial investing.
In some instances, where investors are struggling to create cash flow, leveraging a coach house can be the catalyst to generate positive cash flow and even bigger returns on their investment while adding supply to the rental marketplace.
Check out these numbers and see for yourself how adding an accessory residential unit such as coach house can create HUGE cashflow!
We can help maximize your real estate portfolio with turnkey rent-ready renovations, duplex conversion, intensification projects, coach houses and complete new builds.