How to know if a secondary suite or basement apartment is legal—and a worthwhile investment + MORE Sep 30th

All about Canadian investments. Learn the ins and outs and get the latest news.
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If you’re buying a property right now, chances are you’ve come across more than a few homes that advertise income potential—thanks to a secondary suite or basement apartment. 

Beyond the practical reasons for wanting a secondary suite, such as having a senior-age parent move in, two-unit homes usually represent a valuable source of rental income for the owner. But becoming a landlord is a significant responsibility, and you could find yourself on the hook—both financially and legally—if you fail to abide by the rules. 

So, how can you find out if a home’s secondary suite or basement apartment is legal before you buy? Or, if you see potential for a second unit, what would it take to build one yourself? We break it all down here. 

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return…

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Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.

Bears are beating the bulls this year, but don’t bulls always win?

As share prices continue to fall faster than earnings in almost every country, at some point investors have to say: “OK, things are bad, and in the short term, they might get worse—but these assets and future earnings streams are still worth a lot of money, right?

“Just how much are the assets and future earnings streams worth?” is the real question, when it comes to determining the appropriate current value for a company.

The two charts below were released by Yardeni Research and they illustrate just how low valuations have sunk, relative to future earnings.

Source: yardeni.com

Source: yardeni.com

I mean, you know it’s rough times when investors are pricing the average P/E (price-to-earnings ratio) of the Big Six Canadian banks at close to 9x…

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