As housing affordability and investment strategy continue to evolve across British Columbia, multi-unit dwellings have emerged as an appealing option for both home buyers and investors. Whether you’re entering the market for the first time, purchasing a second property, or seeking a home that pays you back, owning a property with more than one rentable unit is a smart and strategic choice in today’s dynamic BC real estate market.
What is a Multi-Unit Dwelling?
Before we dive into investment opportunities across BC, let’s define a key term: multi-unit dwelling (often abbreviated as MUD). A multi-unit dwelling is a residential property that contains two or more self-contained units, each with its own kitchen, bathroom, and living space. These properties are increasingly popular among both home buyers and investors looking for flexible living arrangements or passive income potential.
Common types of multi-unit dwellings include:
- Duplexes, triplexes, and fourplexes – Properties split into two, three, or four distinct units.
- Detached homes with legal secondary suites – Often in the form of basement suites or garden suites.
- Carriage or laneway homes – Additional units built on the same lot as the primary residence.
Whether you’re considering a property in Vancouver, the North Shore, Squamish, Whistler, the Sunshine Coast or the Okanagan, understanding the structure and appeal of multi-unit dwellings is the first step in making a smart, strategic real estate move.
Why Multi-Unit Dwellings Make Sense in 2025
From Vancouver to the Okanagan, real estate buyers are thinking creatively—and strategically. The rising cost of single-detached homes and recent zoning changes in many BC municipalities have created new pathways for homeowners to legally incorporate basement suites, laneway homes, and secondary units into their properties. These options, once niche, are now being embraced as part of a broader solution to housing shortages and cost-of-living pressures.
In Vancouver and on the North Shore, adding a secondary suite or laneway home to a detached property is increasingly common—and often encouraged by local bylaws. Meanwhile, in Squamish and Whistler, demand for flexible housing is growing quickly, driven by both full-time residents and investors looking to tap into year-round rental markets fueled by tourism and outdoor recreation.
Furthermore, the Okanagan continues to see a rise in suite-equipped homes in Kelowna, Penticton, and Vernon, supporting everything from long-term rentals to multi-generational living. Additionally, on the Sunshine Coast, where buyers seek a blend of affordability, lifestyle, and natural beauty, properties with income potential are increasingly desirable—especially for those commuting periodically or planning semi-retirement.
Built-in Income, Lifestyle Flexibility
What makes a multi-unit dwelling so compelling? Its versatility. Live in one unit and rent the other. Use one space as a vacation rental and the other for personal use. Host family members, support parents, or simply create a mortgage helper that turns a dream property into a financially feasible one. This is especially appealing in markets like Whistler, the Okanagan, and the Sunshine Coast, where many buyers are drawn by the appeal of a vacation home that can double as an income-generating investment. A property with a legal suite or a secondary dwelling offers a way to enjoy the lifestyle of a vacation home without the full financial burden.
Who Benefits Most from Multi-Unit Dwelling Ownership?
These properties offer smart solutions for a wide range of buyers, including:
- First-time buyers looking to offset mortgage payments
- Investors seeking long-term rental income
- Families buying together or housing multiple generations
- Recreational property buyers who want both enjoyment and rental potential
Retirees planning to age in place while generating passive income
How to Make It Work:
Check local zoning and bylaws. Many BC municipalities have streamlined processes for approving secondary suites.
Run the numbers. Understand potential rental income, expected expenses, and how that impacts your mortgage.
Work with an expert. A Stilhavn REALTOR® with experience in investment properties can help you assess value, secure financing, and navigate regulatory requirements.
The Bottom Line
Across BC—from Vancouver to Whistler, Kelowna to the Sunshine Coast—multi-unit dwellings are reshaping what it means to own real estate. They offer a rare combination of lifestyle flexibility, income potential, and long-term value. Whether you’re buying your first home, investing in a rental property, or exploring a vacation home that can help pay for itself, this is a strategy worth exploring.
Explore Your Options
Thinking about a move or investment? Reach out to a Stilhavn real estate advisor today. Our experts are well-versed in BC’s evolving markets and zoning frameworks, helping you uncover high-potential properties and make confident decisions. Wherever you are on your real estate journey, we’re here to help you #findyourhavn—and make the most of it.
