News: Vancouver Real Estate MarketWhat are the tax implications of building a laneway house?
A laneway house is a small detached residential infill house that typically fronts on the lane of a larger principal house.
It’s important for property owners to understand their options before building a laneway house or buying a property with a laneway house. If you are looking for information about the tax implications of laneway houses, read about these scenarios outlined by the Canada Revenue Agency (CRA).
1. You own a principal residence and you hire a builder... Vancouver Laneway Homes, Coach Homes & Carriage Homes
Laneway houses present an excellent opportunity for homeowners to increase the value of their existing homes by adding... |
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A laneway house (also known as a coach house or carriage house) is a detached dwelling located typically in the area where the garage would be on a single-family lot. It faces the lane, while maintaining the backyard open space. Alternatively on a corner lot it would face the side street. At least one parking space is needed for each laneway home. Most laneway houses include a garage.