We have been receiving a tremendous amount of interest in our Coach House offering for the 2018 build season. We thought it would be appropriate to talk about future possibilities for everyone we haven’t heard from yet.
The new coach house regulations in Ottawa create a great opportunity for additional income in the form of a rental property and potentially even more income from an Airbnb format. It can also make for an economical in-law suite or starter home for a son or daughter.
Unlike most builders out in the marketplace, EkoBuilt is focused on building a style of home that is future-proof, something that will actually appreciate over time. Most builders design to today’s building code, and the real problem with this approach is that codes are starting to change dramatically.
This means that a home built to code standard today will be sub-standard come the next code change just four years from now.
Current building code is solid from a safety perspective, but the energy efficiency of most homes built to this code has not kept pace with drastically rising utility costs.
It doesn’t cost much extra to build ahead of code, so why not build to the future code standard? This is our approach and it just makes sense for anything truly designed to be a 21st century home.
To help in showing how possible it is to build to future code, we have prepared a cost analysis documentation for a couple of our designs.
Cost Analysis: Tiny Canuck
Size: 1 bedroom, 499 sq.ft.
Finished for $132,375:
- that’s a $694 mortgage payment
- rental $1250+ (including utilities), that’s a 56% ROI, beats the stock market.
Cost Analysis: Nepean Point
Size: 2 bedroom, 720. sq.ft.
Finished for $175,802:
- that’s a $922 mortgage payment
- rental $1750+ (including utilities), that’s a 53% ROI
Including utilities would make these units really attractive to anyone in the market. Since the homes are ‘future proof’, they can be heated and cooled inexpensively with electricity (no gas/propane) which will be the fuel of the future.
Alternatively, if a coach house is built to current code standards, your mortgage rates may be slightly less (5%) but with substantially higher utilities, overall cost of living would be more expensive.
Coach House Plans: CodePlus & Passive House
Make sure you visit our Coach House Plans page and review the kit pricing for our coach house plans based on CodePlus and on the Passive House standard. Questions? We’d be happy to answer them!
Please get in touch with us to explore Coach House opportunities for your property!