- Rather thanÂ having a suite in your home which reduces an owner’s privacy, a laneway house is self-contained and totally removed from your personal living arrangements.
- Like many people, you may not be convinced of the benefit of a reverse mortgage. Look into building laneway housing and you may find it to be a wonderful source of alternative income.
Enhance the value of your property in Vancouver and receive passive income.
Here’s one example of initial investment:
Ballpark numbers indicate that approximately $280,000 investment completes your laneway home. This could bring in a rental income of around $2500/month (depending on your location and other factors); and with financing costs at about $1000, not only would you clear around $1500 additional income per month, but your property would be worth more!
This example is only speculative. Our associates or your own banker can help you define the exact financial plan to suit your situation.