How Vancouver Homeowners Are Turning Their $2.3M Homes Into $4.6M Assets

In Vancouver’s current housing landscape, detached homes remain among the city’s most valuable assets. With average sale prices now exceeding $2.3 million, these properties represent significant equity — but for many homeowners, that value is largely sitting idle.

A growing number of Vancouver residents are beginning to rethink that. Thanks to recent zoning reforms and shifting market dynamics, homeowners are transforming single-family lots into multi-unit properties, increasing both usable space and market value — in many cases, doubling the worth of their land.

This isn’t about speculation or large-scale development. It’s about using land more efficiently, in ways that align with provincial policy and meet growing demand for diverse, attainable housing.

From $2.3M to $4.6M: How these properties can double in value

Under new provincial housing legislation, many lots previously zoned for single-family use can now legally accommodate:

• Duplexes

• Triplexes

• Fourplexes

• Or up to six units, if affordability or rental housing is included

This opens up the possibility of turning a single $2.3 million home into multiple individually titled, livable units — often valued between $1.1M and $1.4M each, depending on location, design, and square footage.

Example scenario:

• Lot value: $2.3M

• New fourplex with units selling at ~$1.2M each

• Total resale value: $4.8M

• Development costs: ~$1.5M–$2M

• Potential equity gain: $500K–$1M+

And that’s just one approach. Homeowners can also choose to retain one or more units for family use, create intergenerational housing, or generate steady rental income — all while maintaining long-term control of their land.

Why Now? Understanding the Policy Shift

In 2024, the Province of British Columbia introduced legislation that ended single-family-only zoning across most urban municipalities. These reforms were designed to address a critical shortage of housing by allowing:

• Up to four units on most urban lots

• Six units on larger lots or when rental/affordable units are included

• Simplified permitting processes for small-scale multi-unit housing

These changes are not temporary — they represent a long-term shift toward gentle density, aimed at increasing housing supply without altering the character of established neighbourhoods.

Unlocking Value Without Leaving the Community - Turning Homes into Assets

This new model appeals to a wide range of homeowners — particularly those who want to:

• Stay in their neighbourhood, but downsize or generate rental income

• Support family members with multi-generational living

• Co-invest with children or relatives in a future-proof property

• Transition from passive equity to active, income-generating ownership

It’s also an opportunity to contribute to the broader housing solution. Rather than waiting for large-scale developers to fill the gap, individual property owners are becoming part of the missing middle — and shaping the future of the city, one lot at a time.

Vanway’s Perspective

At Vanway Properties, we specialize in designing and delivering multi-unit housing tailored to homeowners, families, and investors across Metro Vancouver. Our team offers support at every stage.

We believe the most sustainable solutions to Vancouver’s housing challenges will come from within the city’s existing fabric — not from expanding outward, but from building smarter within.

Explore What’s Possible on Your Lot

If you own a detached home in Vancouver, you may be holding more than just property — you may be holding a future-ready opportunity to increase value, support family, and contribute to a more livable city. You may be able to turn your home into an asset.

→ Curious about what’s possible on your property? Let’s talk. Call us on 778 328 1884