Ontario Further Loosens Zoning Laws

In a move aimed at addressing the province's housing affordability crisis, Ontario has recently amended its zoning regulations again to allow for the construction of additional residential units on existing properties. This change, outlined in Ontario Regulation 462/24, is designed to increase housing density and create more housing options for residents, especially those interested in co-ownership.

Key Changes to Zoning Regulations:

1. Definition of "Additional Residential Unit": The definition has been expanded to include a wider range of housing types, such as secondary suites in detached homes, laneway houses, and basement apartments.
2. Relaxed Zoning Requirements: The new regulations relax certain zoning requirements, including minimum lot sizes and setback distances. Most notably, garden suites or laneway houses now only need to be placed a minimum of 13.1 feet from the existing home, a significant reduction from previous requirements in Toronto of 24.6.
3. Increased Density Limits: The regulations allow for higher density development, particularly in urban areas, by increasing the maximum percentage of lot coverage and floor space index.

The Impact of the New Regulations:

• Increased Housing Supply: By allowing for more housing units on existing properties, the new regulations can help to increase the overall supply of housing in Ontario.
• Affordability: The increased supply of housing can help to moderate housing prices and make it more affordable for people to find a place to live.
• Diverse Housing Options: The new regulations promote a variety of housing types, including affordable housing options like rental units, garden suites and laneway homes. To find out more about mortgage products tailored to diverse options, check out Equitable Bank here.
• Opportunities for Co-Ownership: These changes are particularly beneficial for individuals interested in co-ownership. By allowing for more residential units on a single property, the regulations make it easier to find multiplex properties suitable for co-ownership arrangements. This can be a more affordable way to enter the housing market, especially for younger generations.

Ontario's recent zoning changes have opened up exciting possibilities for co-ownership. By relaxing regulations on additional residential units, these changes make it easier to find and create properties ideal for shared living arrangements.

To explore these opportunities and discover co-owned homes that fit your lifestyle, contact Husmates today: info@husmates.com.