Everything You Need to Know About Building a Multiplex Home in Burnaby
Navigating the living conditions in the lower mainland can be stressful, but The City of Burnaby has taken strides to relieve the pressure. Effective July 1st, new zoning laws will allow up to 6 homes on current single-family lots in an attempt to address housing shortages and allow for more flexible living arrangements.
A variety of homes will now be allowed including single-family, laneway, multiplexes, cottage clusters, and rowhouses. However, to accommodate families looking for a place to live, lots with 1-3 units will require at least 1 home with 3 bedrooms. Lots with 4-6 units require at least 2 homes with 3 bedrooms. This helps compensate for the living conditions that are becoming more condensed in Burnaby. With more apartment towers being built, this leaves affordable homes with more space to raise a family.
In order for this bylaw to take effect, Burnaby will be combining the 12 existing R-Districts into one R1 Small-Scale Multi-Unit Housing District. Parking rules have been altered in accordance with the location of these new multiplexes. The city is not required to provide parking if the lot is within 400 meters of a frequent bus stop. These changing rules can feel overwhelming when planning for your multiplex home, but that's what our season professionals are here for. We can guide you through every step of the process.
Benefits of Multiplex Homes
1. Increasing Property Value: Multiplex developments greatly increase the value of your property by optimizing land use and creating a higher return on investment. In Burnaby and Metro Vancouver, where property values are high and space is limited, this is of particular significance.
2. Generating Income: Owning a multi-plex allows you to generate consistent rental income or resell your property at a profit. This helps offset mortgage costs, provides a steady cash flow, and offers financial stability. For investors, multiplexes are an attractive option due to the potential for multiple revenue streams.
3. Flexible Living Arrangements: Multiplexes offer flexible living arrangements, accommodating various family needs. Whether you want to house aging parents, adult children, or other family members, a multi-plex provides independent living spaces within close proximity, fostering family unity while maintaining privacy.
4. Contributing to Housing Supply and Affordability: By building a multi-plex, you contribute to the local housing supply, addressing the demand for affordable and diverse housing options. This can positively impact the community by providing more housing choices and supporting local economic growth.
Building Multiplex Homes in Burnaby
Planning to build a multiplex home can be scary, but that’s where we come in. After reviewing the area you live in and applicable regulations, you can begin planning your new dream home.
If you’re looking to build a multiplex home, our process is simple:
We start with a free consultation where we will get a thorough understanding of your vision and review the new property regulations and constraints with you.
From there we can consider the sizing requirements of your home and how the layout will look with multiple families living on the lot. We are here to assist with the difficulties of transitioning from a single-family home to a new living dynamic.
Next we will work with you on budgetary restrictions and timeline expectations to create a realistic outline.
And then, we’ll get to work to create your dream home!
You can learn more about our process here.
Why Work with Us?
At Theorem Developments, we’re here to support you every step of the way. Our approach to every project begins with open and honest dialogue, as we continue to learn about your needs and preferences along the way. We treat each project as if it were our own, ensuring that every decision made mirrors your vision and values. Just know that affordability isn't a compromise—it's a promise from us. If you’re looking to build a multiplex home, now that the City of Burnaby has permitted you to do so, feel free to contact us for a custom quote. We are here to support you with every step, ensuring your vision becomes a reality.