A laneway home can add tremendous value to your property. Not only will you have the extra space you need for work or hosting guests, but you'll also see a significant increase in your home's overall monetary value.
Laneway homes are becoming increasingly popular as housing prices in cities continue to rise, so don't wait too long to make this addition to your home!
What Is A Laneway Home - And Why Are They Becoming Increasingly Popular?
A laneway home is a detached dwelling that is typically located in the rear of a property. They are becoming increasingly popular as they offer a variety of benefits, including:
- Extra Living Space - A laneway home can provide you with the extra living space you need. This can be especially helpful if your family is growing or if you frequently have guests stay with you.
- Increased Property Value - A laneway home can add significant value to your property. This is because it effectively increases the size of your home, which is always a selling point for potential buyers.
- Rental Income - If you choose to rent out your laneway home, you can generate additional income to help offset your mortgage or other living expenses.
How A Laneway Home Can Add Incredible Value To Your Property
The reality is that buyers are willing to pay more money for properties that have a laneway home.
This is because a laneway home is a significant draw for buyers, as these cute little psuedo-homes provide a place to entertain guests, convert into a home office, or simply provide extra living space for a family.
Not only will you be able to sell your property for more money, but you'll also get to enjoy the benefits of having a laneway home while you live there!
What Are The Benefits Of Having A Laneway Home?
There are several benefits to having a laneway home, including:
- Increased Living Space - As mentioned above, a laneway home can provide you with much-needed extra living space. This is perfect if you frequently have friends or family visiting, providing them their own space to feel comfortable in while they stay.
- Home Office - A laneway home can easily be converted into a home office, providing you with a quiet and secluded space to get work done and meet with potential clients and business partners.
- Extra Storage - A laneway home can also provide you with extra storage space for all of your seasonal belongings. This is perfect if your home is starting to feel cluttered and cramped.
The Bottom Line
If you're thinking about adding a laneway home to your property, there's no doubt that you'll be making a wise decision. Not only will you see a significant increase in your home's value, but you'll also get to enjoy the many benefits that come with having extra living space.
So what are you waiting for? Schedule a free consultation call with George Martin today to discuss your vision.