What about the costs?
Again, a GOOD question… IMBY homes operate using a financial model that mirrors our commitment to sustainability, equity and mutuality. Everyone benefits when everyone contributes. This means that the initial build costs for an IMBY home is significantly reduced using expert volunteers and community partners for our BUILD days! (We use $150,000 as a ballpark number to help you plan but this number is flex and fluid as the costs for your home are unique as is our growing volunteer team!).
The current model is a homeowner funded model, where homeowners pay for the build to keep things simple. In exchange for our collaborative approach to reducing build costs, homeowners commit to 10 years affordable rent. We have hopes and asperations for other future funding models as things progress.
In order to achieve this new way of living we set up IMBY as a registered Canadian Charity. We want to continually provide sustainable, affordable housing and live together differently. Statistic Canada deems a dwelling affordable if it’s 30% or less of the renter’s income. We work with the IMBY dweller to ensure needs can be met and work with partner organizations to set up a five year financial plan with each IMBY home.
In the meantime here are 3 ways to imagine financing your IMBY home:
Current Model: You are a home-owner with the money to front the project. You own the home for the long term. Not only does this provide affordable housing and a new way of living together but it is also a solid financial investment that will increase your property value and serve you for the future.
Asperational Model: You are part of a community that wants to fundraise the money for the project. You, with your community, set up a relationship with IMBY and together we create.
The Dream: You don’t have the funds or the group of crazy world changers to raise the money but you do have the backyard and are willing and able to host a home. IMBY finds an investor and we work out a financial plan to pay them back in the long term.
TOP 10 QUESTIONS
What about the bylaws and permits? Is this even legal?
So glad you asked… permits and bylaws are changing fast to keep up with the demand for affordable housing. Municipalities across Canada are implementing new by-laws and rules for ADU’s, Laneway Housing, Garden Suites and Secondary Dwelling Units of various kinds. Everyone in the alternative housing space is planning for new guidelines coming quickly to accommodate the need. The movement to use existing land and creatively designed small spaces also affords a lot of flexibility. If we were to consider an IMBY project in your backyard we’d make sure the build fit the criteria in your area.
What about my neighbours?
Oh good one. This is your opportunity to model a new way of living that is GOOD. Part of our process is to share the good news and be as inclusive as possible. We’ll give you some tips to throw a community welcome party and let everyone come and see for themselves that a better world is coming.
What about power and water?
These are both essential to an IMBY build. Each additional dwelling unit built through IMBY must include power and water. The location of the build will determine how this actually works. In most cases, we will connect the IMBY home to municipal water, the same as any other urban residence. We dream of further sustainability in building practices and hope to implement more and more off-grid options as municipal code allows! We will sort out what’s best for your location and vision together!
What about insurance and liability?
Again, this one is dependent on the location and build. We follow all the rules set by the government. Our experts will look into insurance for you. It may be as simple as an extension to your current insurance plan. For the IMBY dweller and Build days IMBY has insurance so you don’t have to worry. Whatever costs associated will be considered as we dream and build the design for your backyard. Our homeowners and renters abide by the Tenant and Landlord Act.
What about privacy?
We can’t wait to introduce you to community agreements! It makes all the expectations and boundaries required to keep relationships thriving super clear. We don’t want to just survive – we want to thrive! This is something the renter and the homeowner would create together, maybe even over a meal and with an IMBY coach to help guide you. Basically, we are learning to live differently – and it’s going to take some intention and practise! Don’t worry – you won’t be doing this alone!
Who will move in?
Perhaps if you’re the homeowner you already know of someone who could benefit from affordable housing within a community? Or maybe your community can identify the perfect person! If not, IMBY would be more than happy to connect the homeowner and the IMBY dweller, along with a community partner for extra support. When a match is made we will embark on some basic safety protocols (for example, both parties require a police check), embark on the IMBY training (essential for all IMBY volunteers and participants), and connect you with an IMBY coach who will help you with the community agreement. Add in some build days and partner NGO’s who will surround your tiny IMBY project with a circle of support and you are set up to succeed! This is going to be fun.
How long will this be for?
This all depends on you! Our hope is that this will be a lifestyle change and it might never end! This could be the new normal! :-) But we understand that it’s hard to make that kind of long term commitment. If the homeowner would like to opt out at any point we have guidelines set up for this. If the IMBY dweller is forging forward with other plans there are guidelines put in place for this as well. We want you to come alongside us for this lifestyle change and we hope that YOU never want it to end! We aim to set up our projects on a 10 year commitment to reflect the reduced costs of our builds.
Do I have to be a Christian to get involved?
IMBY is founded on the big idea that we can live differently. Our team have been inspired and motivated by Jesus, who instructs people who follow him to share, steward, serve and love others. The instructions and example Jesus gives us are not to serve people who ‘belong’ but those who don’t. In this regard, radical hospitality and intentional inclusivity are deep values because of our faith. So, the answer is no. You don’t have to be a christian to be involved with IMBY. But full disclosure: we are secretly hoping our faith lived out in real life might be an inspiration and refreshing example of what Jesus followers are supposed to look like!