Can a first-time home buyer have a mortgage co-signer? + MORE Sep 17th
Mortgage rates under 5%? They’re coming back as lenders slash fixed rates + MORE Dec 7th
Mortgage renewal strategies in today’s high interest rate environment + MORE May 10th
Popularity of variable-rate mortgages plummets to pre-pandemic levels + MORE Jun 21st
Canada’s financial consumer watchdog unveils guidelines to support at-risk mortgage borrowers Jul 6th
How to know if a secondary suite or basement apartment is legal—and a worthwhile investment
– moneysense.ca
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…
Would You Buy a Home with Strangers? These Canadian Companies Are Betting On It
– canadianbusiness.com
The experience had such a profound impact on Gaynor’s life; she says that getting into the market as an owner wouldn’t have been possible otherwise. It also sparked a new career idea: helping other people buy property as a group. “People want to co-live or co-purchase most often because of an affordability problem,” says Gaynor. “Then, as a result, they get a whole lot of other things that go along with home ownership, like a greater quality of life…