What Every Contractor Needs to Know
The same 2009 Vancouver building code changes that permitted laneway house construction also allowed basement crawlspace reclamations (basement dig outs). Unlike laneway houses, crawlspace reclamation represents a low-cost, high-value alternative for adding space or creating a rental suite in an existing property. If the foundation perimeter walls extend fully below grade, a series of professional concrete cuts and some excavation can yield an amazing return on investment.
How to Maximize Square Footage*
For contractors, crawlspace reclamations represent an untapped market ripe for growth. For property owners the advantages of crawlspace reclamation are obvious. With typical home prices in Greater Vancouver hovering in the million dollar range, adding 400 square feet to a 2000 square foot home adds $200,000 in home value. And while laneway houses can cost $200,000 or more to build, adding a basement costs a fraction of that. With a dig out and renovation running in the neighbourhood of $35-50K, reclaiming that space offers a potential 5x return on investment. You just cannot get that return from a laneway house!
It’s All About Floor Space Ratio
Crawlspace reclamations are governed under the Floor Space Ratio section of the City of Vancouver Zoning and Development By-law. To be exact, section 4.7.1 item (e)(ii), which states “the area of all floors at, above or below finished grade, after the addition of a basement or cellar, does not exceed a floor space ratio of 0.75.” Additionally, the area of any floor cannot have a floor space ratio of more than 0.25 and no part of the basement can project beyond the perimeter of the first story.
We have developed an information package to help contractors promote crawlspace reclamation to property owners. If you are interested in learning more and receiving our info pack, please call me at 604.276.8381 or shoot me an email.
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*This post is intended for information purposes only and does not constitute an offer by VCCC. The amounts listed are estimates; actual valuations and costs vary by project. For more information, please contact Vancouver Concrete Cutting & Coring.