BIG CHANGES to the BC Real Estate Landscape!

BC real estate is on the brink of a major transformation. In just four days, local municipalities will adjust their bylaws to align with BC’s small-scale, multi-unit housing program, known as Bill 44. Whether you're a homeowner, potential buyer, or investor, these changes are essential to understand. Here's a breakdown of the three big changes you need to know.

1. Secondary Suites and Accessory Dwellings Allowed

Secondary suites and/or accessory dwelling units are allowed province-wide in single-family residential zones where three- to six-unit zoning is not required, in all municipalities and regional district electoral areas.

2. Multi-Unit Housing on Smaller Lots

Bill 44 mandates that 3-4 unit housing must be permitted on single-family or duplex residential lots. The specific allowances depend on the lot size:
  • Lots under 3,000 sqft: Permitted to build 3 housing units.
  • Lots over 3,000 sqft: Permitted to build 4 housing units.

3. Six-Unit Housing Near Public Transit

The final significant change involves larger properties near frequent bus stops. Properties over 3,000 sqft in these prime locations can now support up to six housing units. This strategy aims to leverage existing infrastructure and promote sustainable urban growth.

Why This Matters

These changes reflect a broader trend towards densification and smart urban planning in BC. By allowing more flexible use of land, Bill 44 is expected to make housing more accessible and affordable, benefiting a wide range of stakeholders, from young families to real estate investors.

What You Should Do Next

As these changes take effect, it's crucial to stay informed and understand how they might impact your property or future investments. Keep an eye on local municipal updates and consult with real estate professionals to navigate this evolving landscape. Follow us to stay updated on the latest in BC real estate.
FAQs
Q: What is Bill 44? 
A: Bill 44 is a new legislative measure in BC aimed at increasing housing availability by allowing more flexible use of single-family residential zones for multi-unit housing.

Q: How will Bill 44 impact my property? 
A: Depending on your property size and location, you may now have the option to add secondary suites, build multi-unit housing, or increase the density of existing units.

Q: When do these changes take effect? 
A: The new bylaws will be implemented in just four days, so it's important to understand the changes and plan accordingly.

Q: What are the benefits of these changes? 
A: These changes aim to increase housing availability, offer rental income opportunities for homeowners, and promote sustainable urban growth by utilizing existing infrastructure.
In conclusion, BC real estate is set to undergo significant changes with the implementation of Bill 44. By understanding these new bylaws, homeowners and investors can better navigate the evolving landscape and capitalize on new opportunities. Stay tuned for more updates and insights as we continue to track these developments.

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