Houses for sale in Ottawa

Multigenerational arrangements offering a solution to supply crisis

Another factor behind the rise of multigenerational properties is Canada’s constant lack of housing supply, a problem that has bedevilled the market for years. Canada Mortgage and Housing Corporation (CMHC) has recently painted a grim picture on the outlook for home construction, especially in and around the country’s largest cities, and Decina said building properties to house multiple generations is an appealing option in that climate.

“When you can look in the GTA [Greater Toronto Area] and find, in a neighbourhood, perhaps an older home that’s pretty much at the end of its lifespan… you think about the options of what you can rebuild instead of building a single-family home,” he said. “Laneway, coach houses, permits for these are becoming much easier from the municipalities and so it does present multigenerational home options for a lot of these families.”

What’s more, families that avail of multigenerational home construction options are often able to develop a larger living space for each of the residents living on the property, Decina added, than they might encounter in a cramped city apartment or condo.

“The product is beautiful,” he said. “Even if the parents take the main home and the laneway house goes to the son or daughter and spouse, instead of a 400- or 500-square-foot condo, they’re getting a nice 1200-to-1500-square-foot detached dwelling with perhaps two stories. It’s a much better option, so it seems to be much more popular right now.”

Where are multigenerational homes most common in Canada?

The nearly one million multigenerational household types accounted for about 7% of all homes in Canada in 2021, according to Statistics Canada.  

Source link
Ottawa New Listings

Leave a Reply

Your email address will not be published. Required fields are marked *