Affordability and availability are two main factors that make owning a house a challenge for most middle income population in the lower mainland. Owning a house can be an expensive dream that not all are able to fulfil. However, Small Scale Multi-Unit Housing (SSMUH) is changing the dynamics, making things easier for homeowners from diverse backgrounds. These are great alternatives for single-family housing as they are easy to build/buy and offer a lot of flexibility in terms of getting what you desire.
Examples of small-scale, multi-unit housing include:
- Secondary suites in single-family dwellings
- Detached accessory dwelling units (ADUs), like garden suites or laneway homes
- Triplexes
- Townhomes
- House-plexes
Unlike large apartment complexes, these smaller developments are easier to manage and finance, making them an appealing choice for new investors and first time home buyers.
Zoning Changes Around BC – Making SSMUHs More Accessible and Affordable
Across BC, new zoning regulations have been devised, making these housings a lot more accessible to all. This development has encouraged various communities to expand and flourish while fulfilling all their housing needs. New zoning regulations in British Columbia now permit these small scale multi unit housing in single-family zones across municipalities and regional district electoral areas. The best thing is that these developments don’t require rezoning.
Zoning updates now require municipalities to allow four to six units on properties zoned for single-family or duplex homes under specific conditions. If a property lies within an urban containment boundary set by a regional growth strategy or in municipalities with populations exceeding 5,000, regardless of containment boundaries. For properties larger than 280m² near frequent bus routes, zoning permits up to six units. These changes promote transit-oriented development, encouraging sustainable living by enhancing housing density and reducing dependence on personal vehicles.
SSMUH Benefits
Realty is one industry that has mostly been in demand. A house is on the cards for most of us. And when housing becomes affordable and accessible, it brings heaps of benefits for both buyers and sellers. For most part, the skyrocketing prices and, thus, the out-of-reach factor has hurt both parties in the business. While buyers have had little to no courage to shell out the enormous amounts to buy homes, sellers have struggled to find appropriate clients. However, SSMUH have probably changed the game for most. Now, there are multiple benefits to be reaped.
Benefits for Buyers:
There couldn’t have been better news for home buyers than this. Being able to purchase a house that fits the budget and still offers all desired facilities is truly a dream come true.
- Affordability: This is surely the biggest benefit SSMUH provide. Housing options like a houseplex or a townhome are rather more affordable alternatives to single-family homes. This is especially true for markets that are highly competitive.
- More Options and More Flexibility: Having a house that offers multiple units means that you can simultaneously rent out portions of the house, enabling extra income. It also gives the option of multi-generational living, giving stronger financial support and living options.
- Value for Money: If your SSMUH is located near a transit, the value for money factor increases quite a bit. You can reduce your reliance on cars and frequently use public transport. Zoning permits up to 6 units for the lots which are located within 400 meters of frequent bus stops and also have no/minimum parking requirements. .
Benefits for Sellers:
- Higher Property Value: Multi-unit properties means all the above-mentioned advantages, making them more attractive to buyers. The higher the demand the desirability quotient, higher is the property value. It increases even more if the property is local near transit.
- Increased Demand: The selling options increase multi-fold since such properties are conducive to a large audience – from buyers looking to rent out or families wishing for more flexible living arrangement.
- Additional Units-More Investment Options: If the property has additional units (ADUs) on the same lot as a primary dwelling , it automatically becomes more attractive to investors.
In conclusion, Small Scale Multi-Unit Housing offers a compelling solution to the challenges of affordability and availability in today’s housing market. With supportive zoning changes across BC, SSMUH provides buyers with more affordable options, greater flexibility, and excellent value, while offering sellers increased property value and wider market appeal. SSMUH represents a win-win scenario for both buyers and sellers, contributing to more sustainable and accessible communities.