Buying a home with a suite

In practice

How I help with a home with a suite

This page is for you if you want a home with a basement or laneway suite to help with the mortgage or house family.

• Happy to search the market for homes with suites, or space that could become one.
• We can help you check whether a suite was built with permits.
• I’ll compare homes side by side on suite income, layout and privacy.

What to watch for

• Unpermitted suites, which can affect insurance, financing and safety.
• Existing tenants, who have rights under residential tenancy law.
• Lenders that count only part of suite income, or none of it.

The steps, in order

1. Decide whether you want income or family space.
2. Check permits and the city's records.
3. Confirm with your lender how they treat suite income.

Good questions to ask

• Was the suite built with permits?
• Is there a current tenant, and on what terms?
• How much of the rent will my lender count?

Lease and property law has BC-specific wrinkles, so for anything legal, check with a BC real estate lawyer before you rely on it. This page is general information, not legal, tax or financial advice. Cam Appleton is a licensed real estate representative with Coldwell Banker Prestige Realty.

Book a 15-minute call Call or text 604 256 2002 Email me