Willowgrove is a newer east-side family suburb built out from the 2000s onward next to University Heights, and its buyer pool skews toward move-up families rather than investors, which means income-property buyers here are competing against a smaller, less investor-focused pool than in an older neighbourhood.
A permitted secondary suite in Willowgrove needs a building permit on file along with egress windows, adequate ceiling height and proper fire separation before a lender will count its income, and the Residential Tenancies Act, 2006 governs any existing tenancy that comes with the property.
Joel Dyck checks permit status first and prices the income second, which is the order that protects an investor from overpaying for space a lender will not recognize. Get your hand-reviewed valuation from Joel Dyck.