295 replies to this topic

[concorde]

yes agreed

[concorde]

I was visiting a friend last night and when I arrived at their house found the street jammed with cars and no where to park.  When I asked my friend why there were so many cars for an obviously residential area they told me it was because of all the basement suites.  They went on to point out houses and many of them had 4 cars per house!!!

 

Maybe its also time for secondary suite zoning that in addition to all the other regulations, you must provide sufficient off street parking

[MarkoJ]

Maybe its also time for secondary suite zoning that in addition to all the other regulations, you must provide sufficient off street parking

 

I believe it is a requirement but just not enforced.  For example, there are 9000 suites in Saanich and only 98 have permits in place.

[Mike K.]

That's an issue for sure. Now imagine all the people too cheap to pay for parking dropping off their cars in Vic West for the day. My area gets inundated with cars during working hours.

[dasmo]

Yep, as does my street. It's gotten bad enough to be irritating....

[Bingo]

That's an issue for sure. Now imagine all the people too cheap to pay for parking dropping off their cars in Vic West for the day. My area gets inundated with cars during working hours.

 

Sorry, I'll move it next month when I can afford the tow truck.

[Mike K.]

Oh man, you have no idea. People do ditch their cars around here. And there's nothing anyone can do until the insurance runs out.

[Bingo]

Okay...I just moved it over to Cook Street Village.

[Bingo]

Saanich is moving toward a plan to allow homeowners to install detached secondary suites.

Municipal councillors have agreed unanimously to press ahead with strategies to allow residents to build secondary suites in separate accessory buildings on their land.

He envisions homeowners building small separate houses on their lots. They could be anywhere from a few hundred square feet to a maximum of 900 square feet.

- See more at: http://www.timescolo...h.a1JJZp43.dpuf

 

[Rob Randall]

Would I be correct in assuming a detached secondary suite would pay for itself in about 8-10 years?

[lanforod]

Would I be correct in assuming a detached secondary suite would pay for itself in about 8-10 years?

If the 25k estimate were correct, I'd say under 5 years. But I don't think that's anywhere near correct. Maybe 100k. If you can rent it for 1000/mo, it could pay off in 10 years if you're lucky.

[VicHockeyFan]

Would I be correct in assuming a detached secondary suite would pay for itself in about 8-10 years?

 

No.  I'd say a nice 600 sq. ft unit would cost nearly $100,000.  You've got to pay increased property taxes, pay tax on your rental income, the financing costs of building it, and you have extra utility costs and of course upkeep.  And now you are a landlord, with those duties.  I think the return is closer to 15+ years.  

 

Affects on the potential resale value increase aside. In Victoria, if I'm not mistaken, you have to live in the main house.  So when you go to sell it, the new buyer must be moving to live in.  Restricts the resale value, if only slightly.

 

Oh, and you've lost the privacy and extra space your back lawn once gave you.  You know, the reason you bought the house.

 

Consider this, there is nothing stopping 2, 3 or 4 adjacent properties from removing any barriers between their back yards, and having one "super-back-yard" for all 2, 3 or 4 families to enjoy.  You know anybody that has done this?  No, people like their back yards to themselves thank you very much.

[rjag]

Don't forget cost of permits. There is no way they will let you do this without a proper foundation and upgraded plumbing, i.e. backflow prevention devices, upgraded electrical with separate meters etc.

 

Does anyone know how many legal suites were created in Victoria after they changed the rules? I don't think its more than a fistful.

 

This of course begs the question about the 800lb Gorilla, the issue of current illegal 'in-law' suites...how will they handle that epidemic considering they have turned a blind eye to it for decades?

 

Lets say a 300ft bachelor suite with a 3 piece bathroom. Looking at $100k. Add 100 ft and make it a 1 bedroom $120k. Rent it for $1500 per month not including utilities and clear $600 per month after property tax, income tax etc. it will take approx. 25 years to clear it off assuming borrowing rates don't change. 

[Mike K.]

You're also likely to require additional municipal infrastructure such as a bigger water pipe and in some cases you will be required to upgrade the sewer lines, storm water runoff lines if you've got them, and all sorts of wonderful things that will cost you $20,000 without taking you one step closer to your dream of having a garden suite to rent out.

[VicHockeyFan]

You're also likely to require additional municipal infrastructure such as a bigger water pipe and in some cases you will be required to upgrade the sewer lines, storm water runoff lines if you've got them, and all sorts of wonderful things that will cost you $20,000 without taking you one step closer to your dream of having a garden suite to rent out.

 

Ya.  This Saanich councillor needs to head down to building permits and inspections during M-F business hours, and see how much all this stuff costs, before he says this can be done for $25,000 and up.

[Rob Randall]

You're also likely to require additional municipal infrastructure such as a bigger water pipe and in some cases you will be required to upgrade the sewer lines, storm water runoff lines if you've got them, and all sorts of wonderful things that will cost you $20,000 without taking you one step closer to your dream of having a garden suite to rent out.

 

This is an important point. A lot of houses already have a suite or two. Add in another self contained unit with two or more people and you've got a profound change in the infrastructure consumption/disposal compared to what was originally planned for the lot half a century or more ago. 

[Coreyburger]

This is an important point. A lot of houses already have a suite or two. Add in another self contained unit with two or more people and you've got a profound change in the infrastructure consumption/disposal compared to what was originally planned for the lot half a century or more ago. 

 

Vancouver has 30%of the odl "SFH zoning" with granny suites/AADU/detached secondary suites. I really don't see the issue, especially as the existing stock of SFH has dropping occupancy with boomers.

[Bingo]

Would I be correct in assuming a detached secondary suite would pay for itself in about 8-10 years?

 

For the middle man it pays.

There were people posing as someone who who would rent the suite meant for one or two people, only to turn around and sublet it to six students.

For the homeowner they have to renovate the suite every time they kick somebody out.

[lanforod]

^ It's a very simple clause in the Tenancy agreement to not allow subletting. People break that, you can evict.

[Bernard]

You're also likely to require additional municipal infrastructure such as a bigger water pipe and in some cases you will be required to upgrade the sewer lines, storm water runoff lines if you've got them, and all sorts of wonderful things that will cost you $20,000 without taking you one step closer to your dream of having a garden suite to rent out.

there are existing neighbourhoods in Saanich that can not take any more subdivision because of the waterpipes in the area.   I did some work for a friend who wanted to try and subdivide but the water service was too close to the limit to allow more residents