Accessory dwellings, also known as granny flats, mother-in-law suites, or ADUs (Accessory Dwelling Units), offer several benefits:

1. Increased Rental Income: Building an accessory dwelling on your property allows you to rent it out, providing an additional source of rental income. This can be especially helpful in high-cost housing markets or for homeowners looking to supplement their income.

2. Multigenerational Living: ADUs offer a separate living space on the same property, which is ideal for multige...

Last year, one factor drove the real estate market more than any other: rising mortgage rates.

In March 2022, the Bank of Canada began a series of interest rate hikes in an effort to pump the brakes on inflation.1 And while some market sectors have been slow to respond, the housing market has reacted accordingly.

Both demand and home prices have softened, as the primary challenge for buyers has shifted from availability to affordability. And although this higher-mortgage rate environment has been a...