RS CHARACTER HOME RETENTION AND ZONING CHANGES
The city has recently adopted changes in the zoning which allows character home owners to increase density on their single-family properties. The city has done some questionable things over the past few years, however I think this is a great step forward in creating density and protecting the character homes of our city.
The city of Vancouver has adopted the ability to turn pre-1940 single family homes that have “character merit” into multi-family strata properties. The maximum buildable on these lots is up to 85% of the floor space ratio and up to 3 separate strata unit townhomes. What’s different than before is that opposed to a laneway house you can now choose to rent out or sell these strata lots as you see fit. A perfect example would be someone who lives in a character home on a 50 X 120 (6000 sqft) RS-1 lot. In this scenario let’s say the main house is 3300 square feet. You keep the main house as is and build an infill (coach house) of 1,800 sqft. At this point you could divide the house up into 2 separate units and with the coach house totalling of 3. Or you could keep the main house size as is and add the coach house at the back. The best part of this is you could rent 2 of these homes and live in the main port of the house.
There are quite a few different scenarios to consider and your home has to be considered of “character merit” in order to take advantage if these new zoning changes.
My associates and I utilize our top 0.1% ranking of all greater Vancouver realtors to help our clients achieve success. This coupled with our industry leading marketing practices which include our ability to reach out to our over 5,000 client database, the leveraging of our long standing relationships with other top agents, and our outside of the box experienced thinking to provide our clients with the best service and advice available in the marketplace. If you are interested in knowing what can be done to your property feel free to get in touch in with us. We’d be happy to meet you for a consultation to discuss the potential for your property in further detail.