Need a mortgage helper?

It’s nice to have the additional income security a suite can provide in today’s uncertain economy. Use the revenue to pay down your mortgage faster and achieve your goals of financial independence.

Improve property values

Some of the homes on this page have rental accommodations or the potential for a suite. Ask your lender about including money for renovations to create a suite or cottage with your mortgage application.

Get more house

Lenders will often consider rental income as part of your total income when making a mortgage application. That allows you to look at homes that might otherwise be outside of your price range.

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For sale $949,900
89 TORONTO Street, barrie, Ontario

89 Toronto Street

Barrie, Ontario

2 Bedroom 2 Bathroom 1800
For sale $1,850,000
4057 CAMBRIAN Road, washago, Ontario

4057 Cambrian Road

Washago, Ontario

5 Bedroom 3 Bathroom 3549
For sale OPEN HOUSE $1,100,000
10 WILLIAMSON Place, south bruce peninsula, Ontario

10 Williamson Place

South Bruce Peninsula, Ontario

3 Bedroom 2 Bathroom 1745
For sale $729,900
4883 MULEY POINT Road, ramara township, Ontario

4883 Muley Point Road

Ramara Township, Ontario

3 Bedroom 2 Bathroom 1200
For sale $2,199,000
7 PINEHURST Lane, springwater, Ontario

7 Pinehurst Lane

Springwater, Ontario

4 Bedroom 3 Bathroom 2366
For sale OPEN HOUSE $749,000
271 SEA RAY Avenue Unit# B203, barrie, Ontario

271 Sea Ray Avenue Unit# B203

Barrie, Ontario

2 Bedroom 2 Bathroom 875
For sale OPEN HOUSE $799,000
3417 TIMBERLINE Avenue N, severn, Ontario

3417 Timberline Avenue N

Severn, Ontario

4 Bedroom 2 Bathroom 942
For sale $599,900
356 SECOND Street, midland, Ontario

356 Second Street

Midland, Ontario

4 Bedroom 4 Bathroom 1880
For sale $2,399,995
15 WHISTLER Place, oro-medonte, Ontario

15 Whistler Place

Oro-Medonte, Ontario

4 Bedroom 4 Bathroom 3591
For sale $1,248,000
1931 MANITOBA Street, bracebridge, Ontario

1931 Manitoba Street

Bracebridge, Ontario

4 Bedroom 4 Bathroom 3655
For sale $3,500,000
1975 LEWIS Lane, severn, Ontario

1975 Lewis Lane

Severn, Ontario

5 Bedroom 4 Bathroom 3802
For sale $679,000
1028 OLD 117 Highway, baysville, Ontario

1028 Old 117 Highway

Baysville, Ontario

3 Bedroom 2 Bathroom 1352
Homes for sale in Collingwood Ontario with income potential

Income potential from your primary residence

Some properties offer higher than average value because they may have income potential. Maximizing the value of a property may involve changes in how it is perceived by the owner and the public. To a layperson, a home with an unfinished laneway garage is a project for the future. An income investor may look at the same dilapidated outbuilding and see the footprint of a small cottage that can be rented at a profit after construction costs.

Income potential can include basement suites, garden suites, and above-garage apartments, among others. The properties on this page may have integrated or separate accommodations. Separate accommodations allow you and your tenants some freedom to enjoy your space without privacy concerns. Basement suites are relatively straight-forward to build but care must be taken to adhere to local by-laws and regulations. An “illegal suite” or one that was built without permits or permission can actually be a liability to the homeowner and make selling more difficult.

In urban centres, laneway houses have become more popular as they offer a turn-key solution to garage space and living accommodations. Laneway homes come in many different sizes and configurations. Buy one off-plan from a local builder and save on architect fees. Or, spare no expense to lovingly match the style of the laneway house to your characterful residence. Either way, the addition will increase your property value and personal income for many years to come.

Questions? Contact us for a personal consultation.

Ask about properties with income potential