Lane way home details & budget
Updated as of November 16 -2023
Introduction by Project Manager, Aldo:
Hello, I’m Aldo, a 58-year-old construction expert with a family legacy in the field. I’ll be serving as your project manager, bringing years of experience in housing projects. My role is to find solutions, improve efficiency, and work within the budget. Whether it’s sourcing quotes, selecting contractors, or adapting to your preferences, my approach is flexible and client focused. Unlike a general contractor who price are higher, I get paid only after the final inspection, ensuring your satisfaction with the project.
Bill 23 a game changer: For owners who wants to convert their property in 6 units or more.
Bill 23 allows immediate amendments to municipal Official Plans and Zoning By-Laws. Bill 23 no longer requires public meetings for Plans of Subdivision and prevents third party Ontario Land Tribunal (OLT) appeals on Consent and Minor Variance applications.
What are the benefits of Bill 23?
Bill 23 in Ontario introduces significant changes to the Planning Act2 to create expanded “as of right” development rights for small scale residential development, regulate the use of inclusionary zoning, require municipalities to be more flexible with parkland dedications, limit the application of site plan control, reduce considerably development fees. more info in the link below.
Laneway house Project Overview:
-Warranty & Insurance: Products and trades come with warranties. Additionally, I and the tradespeople carry liability insurance. Remember, every construction project requires an engineering plan and inspections at each step.
-Tarion Insurance: This is not necessary for owners unless the property is built for resale.
-Design & Cost Estimates: The plan I design can easily convert into a family home with a master suite and two bedrooms. The estimated cost is around $450,000 to $500,000. For financing details and scenarios, use this mortgage payment calculator: Rate Hub Calculator.
Now we must add municipal tax 200$\month, roomies tax? & maintain fees including cleaning (common aera every week + (green roof 3 times a year) = + – 470 per month
with 5 room to rent between 900 -1100 depending on the bedroom size + utilities, i think its a fair price in the actual market to keep good tenants, you can compare following this link for pricing & how fast they rent it: https://www.roomies.ca/rooms/high-park-toronto-on
that will leave you with an income or 1000 + /month & an increase a lot your potential resale value.
Every project in Toronto will help to have a decent place for people to live.
I read stories from sharing a bed for 900$ / month to sleep in a furnace room for 1000$/month,
Toronto as a lot to offer, Toronto will always need people, will always need improvement.
& Toronto as a beautiful city attracting people from around the world.
Price will not be going down easily in rental property.
& some might consider building a laneway to live in it & convert your main property in unit or roommate or built & convert both, some investor might consider buying property & turn it in roommate. This also I can manage for you or some else.
Building a laneway house in Ontario, Canada can provide numerous financial, environmental and social benefits: – Increased property value – Generate rental income – Tax credits and incentives from the government of Ontario – Reduced energy consumption & greenhouse gas emissions – Closer living together to …
Yes, a green roof reduces energy cost, reduce greenhouse + carbon captured + water captured.
“Thanks to the new rules, homeowners can just build a laneway home without needing site planning approval and rezoning permission, as long as they apply for a business permit and meet specific criteria,” says Lynda Macdonald, director of Community Planning in the Toronto and East York District.
Break down cost.
Some Fees Effective January 1, 2023
For information may apply:
Additions and alterations to existing dwellings with three units or less: $1,791.23
Residential dwellings with three units or less: $4,026.96
All other residential, commercial, industrial, or institutional uses: $5,211.90
After the Fact variances: double the regular fee.
Base fee for severing one lot into two or establishing a new easement: $6,493.71.
Fee for each additional lot created: $5,272.89.
Fee to sever multiple lot additions for the creation of one or more new lots (per existing lot): $3,246.86.
Validation of Title, Technical Severance, Leases, Mortgage Discharge, Lot Additions, Re-Establishing Easements: $1,828.95
-development charges= some will say 40 000 + –
The Development Charges (DC) Deferral Program for Ancillary Secondary Dwelling Units allows for a DC deferral for eligible property owners developing a secondary dwelling unit PDF at the rear yard of a property. The DC would only be collected through creation of a new lot (Plan of Subdivision, Plan of Condominium and Consent to Sever) within 20 years of the issuance of the building permit. This Program was approved by Council in April of 2018.
To look at it, follow the link below.
= Construction – Group C [Residential Occupancies]
Type Fee (per m², unless otherwise stated) Effective Jan. 1, 2023
Demolition fee= All Buildings and Occupancies $0.16 x m2
Environmental Review (in addition to Service Index) $953.21 x
Residential Unit Fee
Each new residential unit included in an application $52.08/unit
Single Family Dwellings, Semis, Townhouses, Duplexes, Live/Work Units $17.16
(i) For Certification of Plans $8.59
(ii) Permits for Certified Plans $14.56
All other multiple unit buildings and any other residential occupancies $17.16
Requests for refunds must be submitted in writing to the Chief Building Official who will determine the amount of fees………………………..
Mechanical Permit & Requirements= No additional fee if submitted with building application unless there is a specialty system.
Zoning certificate= should be none, laneway project is approved by the city of Toronto.
-Architect, engineer, apply for permit & committee of adjustment up to 20 000.
My concept plan is free for my client & my engineer say around 2500.
-HVAC Desing= 1500
+ permit application=
Demolition= 10 000
-If we pass inside your basement for plumbing
-Remove floor finish = 500
– cutting concrete & disposal = 2500 done by labour
– dig =800 done by labour
-new plumbing line if need to= 5000
-recover drain line = 400 done by labour
-Recover with concrete= 1000
City insurance cost = 2980.81 no refund
Municipal road damage= 2 000
-Carrying cost will be your mortgage payment for 1 year
-Construction fence, container, porter potty = 7988
-tree protection =500 -3500
-trench up to 5000
-screw pile 600 to 700 each if 10 is 7000 for wood floor
-excavation for a foundation = 26000
-footing& forming = 9000
-pump for concrete = 1500
-concrete cost & rebar = 3750
A basement will cost completely finish 3 bedroom’s, 1 living room & 1 bathroom around 100 K
-structural slab= 10 -12000 + excavation 4000 = 16000
-floor joist & roof joist= 25930
-framing job= 15000
-steel beam & columns =4304
-roofing= Epdm/Tpo membrane = up to 16200
-plumbing inside 10 000
Outside up to 25 000 including in the existing house =drain line
-electric 25 000
-metal finish = 57240
-insulation = 12254
-flooring vinyl = 13000
-green roof= 22500+ 3 visit/year 500
Appliance small fridge cooking plate All-In-One Ventless Washer/Dryer Combo = 2200 LG 5.2 c
Motion sensor Faucet 400
Shower faucet 760
Motion sensor Kitchen faucet = 469
Double Kitchen sink bath depot 269 to 503
Smart switch motion sensor 2for 42.98 amazon
Fire ladder (2)400
Bathroom mirror 200
2 Extinguish = 129
6 smoke detectors= 150
Monthly cable= 100
Futon bed up to 1000 each
Futon waterproof protector= 20-40 each amazon
PAX / HASVIK, will save 3 inch in the bedroom space,
Wardrobe, dark gray/dark gray, 200x66x201 cm (78 3/4x26x79 1/4 “) = 725
Small desk & chair= amazon 72 each Computer Desk, Home Office Desk Extra Large 48 x 24 Inch Writing Student Girl Kids Study Desk with Shelf Simple Modern Ergonomic Table Workstation, Vintage
Chair amazon 58 up each
2 air fryers= 188 each amazon Ninja Foodi 6-in-1 8-qt. (7.6L) 2-Basket Air Fryer DualZone Technology, Match Cook & Smart Finish to Roast, Broil, Dehydrate & More for Quick, Easy Meals, Slate Grey (DZ201C) Canadian Version
1 cooktop= 695 https://www.canadianappliance.ca/product/Frigidaire_FFEC3025UB_Cooktop_Frigidaire_FFEC3025UB.html BUNDLE & SAVE UP TO 25% OFF* – Chat + In Store Only
1 microwave= LG Microwave-LMC1575SB
4 directive/instruction lamination board=
Ventless Washer Dryer Combo = + – 2000
No dishes washer, but installation ready
No stove but installation ready
Look a good example https://www.blogto.com/real-estate-toronto/2023/08/450-roxton-road-toronto/