RSS Feed

Living on borrowed land

I was showing a friend the plans for the souped-up kitchen in the laneway house (more on that in a future post) and even dragged out the little square of wood veneer to show how the cupboards will be finished. She oohed and aahed, I kvelled, it was a pleasant time.  Then she said “It just makes sense to spend money on the kitchen, because of the resale value.”

And just like a needle being dragged across a record, the conversation veered off from cozy decor to cold hard facts.

We are paying for the laneway home to be built.  And we’ll be spending a little more than absolutely necessary to get exactly what we want in the way of finishes, appliances and building materials. And we will live in it.  But we won’t own it. The owners of the main home on the property own the laneway house as well. That’s the rule.

All our money is buying us is the right to live in the house until…..we don’t want to live there anymore.

Oh, we’ll get our money out of it.  Eventually the property owners (DD and DSIL) will eventually start making payments to us for the amount we paid to build the home — but no more, no matter how much the property may have appreciated in value.

It works out very well for us all.  They get a free babysitting at hand, we can share shopping trips, it’s a nice convivial living situation for everyone involved.

But we are stepping off the real estate merry-go-round forever.  And that’s the way we want it.

We cannot have our cake and eat it, too.  We can stay in this condo and watch it go up in value every year, but we can’t take that money and use it.  Yes we are sitting on the proverbial gold mine, but that’s just it, we’re sitting on it, not mining it.

Building the laneway home gives us a chance to live mortgage-free in a lovely neighbourhood in our favourite city in the world.  Next to the nicest neighbours we could imagine.

What more could we want?

About ladywholivesdownthelane

Starting the adventure of building a laneway house in the real-estate jungle of Vancouver, BC

One response »

  1. Pingback: The Grandma who lives down the lane « The Lady Who Lives Down the Lane

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

My Pain, My Life, My Struggles, My Fight

Come walk with me, Down My Dark & Stormy Journey BUSINESS INQUIRIES & CONTACT EMAIL : GODSCHILD4048@GMAIL.COM

annotated audrey art

TUCSON ARTIST AND ILLUSTRATOR

kelzbelzphotography

My journey - The good, bad and the ugly

Im ashamed to die until i have won some victory for humanity.(Horace Mann)

Domenic Garisto/havau22.com / IF YOU CAN'T BE THE POET, BE THE POEM (David Carradine) LIFE IS NOT A REHERSAL,SO LIVE IT.

mannyrutinel.com/

An interesting educational blog which tackles the truth in Veganism, Politics, Ethics, general News, and more.

wegotperks

Company Perks and Resources

The Lady Who Lives Down the Lane

Lane Way Housing for the Nervous Novice

Apartment Therapy | Saving the world, one room at a time

Lane Way Housing for the Nervous Novice

House Hopes

Writing about real estate as it is and could be

The Tiny Farm

my journey towards sustainable living in the city

Slightly Snug House

building a home that's not too big and not too small

Vancouverandy

Funny thoughts from a nut like me.

My Cozy Ranch Home

Loving our Life!

Simple Northern Life

An Independant Voice

%d bloggers like this: