We are living through an exciting time for housing development in North America! Finally we are seeing positive changes from governing bodies, removing barriers to allow those willing to take on the challenge of building new homes to do so with greater ease.
The new change coming down the pipe is revamping the Ontario building code. The changes to the code are to be released this month, with more than 2400 changes put into effect. These changes are exciting because one of the intentions they are striving for with the updates is to support the more homes built faster act.
At present, planning changes have been moving faster than building code changes, allowing 3 or 4 units inside of a home in your typical low density residential zone. The increase in units however, is not supported by the building code. The definition of a house in the building code only allows two units within a home and classifies anything above this as a building. With this classification means different requirements for construction.
To make things more of a challenge a house can be defined as a dwelling within a building as long as it has its own mechanical systems, fire separation and proper means of egress as depicted below.
Unfortunately, even with municipal by-laws being re-written to allow 3-4 units within standard residential zones. The building departments will not always allow over two units without requiring you to build at a higher standard. We have found a large discrepancy between different municipalities and even between different building officials with what they will allow.
The new code with new definitions should change this, creating more certainty in designs and costs required to build or convert multiplex’s.
It's Time To Take Action!
With the reduced prices we are seeing in real estate and all of the new changes coming down the line in planning, the building code and the relatively low competition in this space it is a great time to be looking for properties to purchase that have potential.
We personally are looking to take advantage of this and have put another development under contract this month with a money partner and will continue to look for more properties that fit our criteria throughout the year.
We hope that you also see the opportunity and do your best to take advantage of it while we have it.
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For any concerns or inquires you can reach us at info@northlakesdevelopments.ca or through our website contact page.