Financing sets the floor for what a buyer can pay. A non-owner-occupied purchase needs 20 percent down instead of the insured minimum, and the Residential Tenancies Act, 2006 governs what happens to any existing lease, including notice periods if a new owner wants the unit for themselves.
Legality of the suite decides the ceiling. A permitted secondary suite with proper egress and fire separation lets a lender count real rental income, while an unpermitted one is a liability a careful buyer will discount for, whatever the asking price says.
With 446 sales reported citywide in August 2026, buyers are active and comparing carefully. Get your hand-reviewed valuation from Joel Dyck.