I remember when we bought our house in Delta. It was an era of nine percent interest rates and relatively stagnant prices. We sold our first house for just over what we paid for it. That was a long time ago.
In the years since, the population has grown substantially, building has expanded rapidly, interest rates are comparatively low (even though they don’t feel that way) and we don’t have enough living space for everyone.
I’ve enjoyed my neighbourhood, my neighbours, the space my kids had to play in the yard and the size of house that lets me hide away when I want to. Like many people, the value of my house has increased, and I look to the eventual downsizing as part of my retirement. But who is going to be able to afford this place, given what I want to get for it?
Enter the province’s new legislation, Bill 44, which will allow for multi-unit housing on lots over 280-square-metres (roughly 3,000-square-feet). Municipal zoning bylaws must be updated by June 30 to allow for this.
Sure, our neighbourhoods are going to get a bit more crowded. We’re going to see more homes torn down and new, multi-unit structures built. It’s a field day for developers and homebuilders, if there are any around with time on their hands.
It’s also a big issue for the City of Delta to manage. We have a road system designed for roughly what’s in place. Add that many more people, that much more transportation, we’re going to need a few more roads. Sorry, a bike lane on 56th Street may not be in the cards.
As much as people hate change, this may be a good solution. I get the value out of my house, and our kids may be able to buy a home of their own where they grew up. It’ll be much smaller, but it’s a more affordable roof over their heads.
Goodbye single-family detached home. It was good knowing you.
