A secondary suite is an approved dwelling unit (with its own kitchen and living area as well as separate external access) that is located within a principal building that is used for residential purposes.A building permit is required for the construction of a new suite, or for the authorization of an existing non-permitted suite. Having a secondary...

Starting in 2018, all Canadian buyers who are applying for a mortgage from a federally-regulated lender are now required to undergo the OSFI Mortgage Stress Test, including those who put at least 20% as a down payment. This certainly affects homebuyer hopes, as their finances are even more closely scrutinized before gaining mortgage approval. Basic...