Can The Future Of Renting Be Found In Laneway Homes?

Much has changed in the area of Toronto with the introduction of laneway houses. As the population has increased exponentially, there needed to be an immediate solution to the overcrowding in the city and these houses look like the best option. However, one must decide if the future in renting is going to be the laneway house? While these homes do provide an immediate solution to the housing shortage, there are several advantages and disadvantages to be aware of. Let's take a few moments and examine the full story.

The Advantages Of Laneway Houses

The Reduction Of The Rental House Shortage

Throughout the many neighbourhoods in the area, there are many renters living in homes; however, many of them live in homes already occupied by the owner.

A laneway home helps to solve this housing shortage. Secondary laneway suites would truly help to rectify the situation.

Tenant would be able to gain access to homes in much more desirable neighbourhoods.

Many people in the area are searching for better places to live that include better access to roads and schools. Laneway houses are one of the best ways to add living space to a neighbourhood without the need for a full tower complex. is almost always guaranteed. Today is the best day to find out if laneway houses are a good fit for your rental needs.

Disadvantages Of Laneway Houses

One must understand that these houses can be expensive.

There are many people who need housing. However, they need accommodation that is going to be affordable. While architects and developers enjoy the easy and simplistic construction of laneway housing, the cost is one of the downfalls for many renters. This is simply due to the unique design of these houses. While the primary goal of these homes is to provide a solution to the housing difficulties, they offer a modern and elegant theme which makes them unaffordable to many.

The construction process can be complicated.

The construction design is truly unique because the laneway home is constructed to easily fit in the backyard as well as easy access to the front. The process of building a laneway home is not an easy one. It involves a rather lengthy process of first getting approval which is done on a singular basis, which is challenging in its own.

While the overall goal is to have as many laneway houses built as quickly as possible, there must be a more straightforward approval process for them to be built.

Those individuals with enough time and money are the only ones able to get through the process easily. Some may be architects or have the money to hire an architect to get the job done. The vast majority of renters are unable to afford the process.

With the right type of planning and strategy, the laneway house could benefit many homeowners. This is because these homes can help those who are trying to budget large mortgages while possibly earning an additional income. By constructing a laneway home and renting it out can be much simpler than renting a room out in your own home. There is no lost privacy or security concerns while renting out in your own home. It is one of those situations that is win-win for all involved.

I am a marketing communications professional and have a flair for writing about many interests that I try to pursue when I am not working. I love a good warm cup of chamomile tea anytime of the day!