A 9-part series - District of North Vancouver’s new residential zoning rules.

Part 2 of 9: Thinking About Rebuilding? North Vancouver’s Basement Rules Are Changing

One of the most significant changes in the District’s new residential zoning rules involves basements.

For years, many North Vancouver homes have been designed with substantial portions of their living space below grade. Under the new rules, that approach is changing.

New fully in-ground basements will no longer be permitted.

Partial basements can still be built, but on a sloping lot the basement can generally extend only about 4 feet, or 1.2 metres, into the ground on the downhill side.

The District is essentially shifting usable living space above ground rather than underground.

That does not mean homeowners with existing basements suddenly have a problem.

Existing legal basement construction is not being eliminated, and renovations to existing basements can generally continue subject to the applicable rules and permitting requirements.

The biggest impact is likely to be felt when someone is planning a new house or substantial redevelopment.

What does this mean for my property?

If you are contemplating replacing your home, the new basement rules could significantly affect how the new house needs to be designed.

A floor plan that might have worked under the previous zoning may no longer work in the same way, particularly on sloping North Vancouver properties.

It also means homeowners considering redevelopment should look at the property as a whole rather than assuming they can reproduce the same basement configuration found in neighbouring homes.

The trade-off is that the new zoning provides more flexibility elsewhere — including the possibility of building taller.

And that is where we are going next.

Next week: Could Your Next North Vancouver Home Be Three Storeys?

This article is a general summary and is not intended as legal or planning advice. Property-specific requirements should always be confirmed with the District of North Vancouver.

Buying a condo is about much more than the suite itself.

The kitchen, layout, view and location may be what first attract you, but some of the most important information about a property is found in the strata documents. Before a buyer removes subjects, we spend time looking for anything that could affect future costs, enjoyment of the home, or resale value.

Here are seven areas we pay particularly close attention to.

1. The Form B

The Form B is one of the most important documents in a strata purchase. It can reveal current strata fees, parking and storage allocations, outstanding amounts, approved special levies, legal proceedings and other important details about the strata lot.

It is a good starting point — but it should never be the only document reviewed.

2. Depreciation Reports

A depreciation report gives us a long-term look at the building’s major components and anticipated repair or replacement costs.

We look at items such as the roof, windows, plumbing, elevators, balconies, parkade membranes and building envelope. Just as importantly, we compare the report with the strata’s current financial position and recent minutes.

A building can have a long list of future projects without necessarily being a concern. The bigger question is whether the strata appears to be planning and funding for them responsibly.

3. AGM and Council Minutes

Minutes can tell you a great deal about how a building is being run.

We look for recurring issues, major repairs, owner complaints, insurance matters, leaks, noise concerns, legal disputes, maintenance plans and anything else that appears repeatedly.

One isolated issue may mean very little. A pattern is more important.

4. The Contingency Reserve Fund

The Contingency Reserve Fund, or CRF, is money set aside for larger repairs, replacements and emergencies. 

A healthy reserve does not guarantee there will never be a special levy, but it can give the strata more flexibility when major expenses arise.

We look at the size of the fund, recent withdrawals, upcoming projects and whether the current contribution level appears realistic.

5. Insurance

Strata insurance has become an increasingly important part of condo due diligence.

We review the building’s insurance coverage, deductibles and any unusually high deductibles that could potentially affect an owner.

Buyers should also confirm that their own condo insurance will provide appropriate coverage, including deductible assessment coverage where needed.

6. Bylaws and Rules

Bylaws can have a direct impact on how you use your home.

Pets, rentals, smoking, renovations, flooring, barbecues, age restrictions, parking and move-in procedures can all be governed by the strata.

Never assume that because something is common in one building, it will be permitted in another.

7. What Work Has Been Done — and What Is Still Coming

This is where all the documents start to come together.

A depreciation report may identify a future project, while AGM minutes may show that it has already been completed. Or the minutes may reveal that a project has been discussed for several years but still has not moved forward.

We try to establish not only what the building needs, but also what has already been completed, what is planned next, and how it may be paid for.

The Goal Isn’t to Find a “Perfect” Building

Every strata has maintenance issues eventually.

The goal is not to find a building with no future expenses. It is to understand what you are buying, identify potential risks and make an informed decision before you become committed to the purchase.

That is why subject removal is such an important stage of a condo purchase. It is the point where good due diligence can make a very real difference.

If you are considering a condo purchase, we are always happy to help you understand what the documents are actually telling you — and what questions are worth asking before you move forward.

If you are working with us and would like details about the BCAA home insurance referral offer, just ask us. We are happy to provide the referral information so you can explore the potential savings directly with BCAA.

Buying your first home comes with a lot of new terminology and it’s completely normal to feel unsure about what it all means. From inspections to appraisals, each step plays an important role in helping you make an informed decision. Here’s a simple breakdown of what these terms mean and why they matter when purchasing a home.

Home Inspection

Once you’re under contract on a home you’d like to buy, getting an inspection is a key part of the process. An inspection gives you a clear idea of the safety and overall condition of the home – which is important for such a big transaction. As a recent Realtor.com article explains:

“A home inspection is something that protects your financial interest in what will likely be the largest purchase you make in your life—one in which you need as much information as possible.”

If anything comes up during the inspection — such as the age of the roof, the condition of the heating system, or any other concerns — you may have the opportunity to discuss next steps with the seller before the purchase is final.

You won’t be navigating that conversation on your own. Your real estate agent will help you understand the findings, consider your options, and advocate for you throughout any further discussions or negotiations.

Home Appraisal

While the inspection tells you about the current state of the house, an appraisal gives you its value. Bankrate explains:

“When buying or selling a home, an appraisal verifies that the sale price of the home is in line with fair market value. This ensures the homebuyer doesn’t pay more than the home is worth, and the mortgage lender doesn’t lend more than it is worth.”

If you’re using a mortgage to purchase your home, the appraisal is an important step. It helps confirm the property’s value for the lender and offers an added layer of protection for you as the buyer.

If the appraised value comes in lower than the agreed purchase price, your real estate professional will help you understand your options and navigate any next steps, including possible negotiations.

Bottom Line

The inspection and appraisal are two different, but equally important, steps in the home buying process. The good news is, you don’t have to navigate them on your own. With the right guidance, you can move through each stage with clarity, confidence, and support from start to finish.

More choice, less urgency
Inventory is up (well above the 10-year average), and sales are below normal levels. That gives buyers more options and time to make decisions—less of the pressure we saw in past spring markets.

Negotiation is back (in pockets)
With the sales-to-active listings ratio at 14.2%, we’re in balanced market territory—but leaning softer. Especially in apartments and attached homes, buyers have more leverage.

Detached may tighten
This is the interesting shift:

• Detached sales up 8.3%

• New listings down

That combination can create competition in select detached properties, even while the broader market feels calm.

Pricing isn’t falling fast—but it’s softer year-over-year
Prices are down ~6–8% from last year, but relatively stable month-to-month. Translation:

• No sharp “deals” across the board

• But better value than a year ago

Historically, the first quarter of the year offers a unique window of opportunity for home sellers—and the data this year reinforces that pattern.

As shown in our current North and West Vancouver listing graph, the number of active residential listings at the start of January is materially lower than what we consistently see as we move toward spring and summer . This is not an anomaly. It is a seasonal trend that repeats itself year after year.

Less Competition Means More Attention

With fewer homes on the market right now, well-priced properties face less competition for buyer attention. Buyers who are active in January and February are typically motivated, informed, and prepared to act—often because they chose not to wait for the busier spring season.

Inventory Predictably Rises as Spring Approaches

The historical data clearly shows that listing counts climb steadily from late winter through early summer. As inventory rises, sellers are no longer competing with dozens of alternatives—they are competing with hundreds. More choice for buyers inevitably means longer decision cycles and increased pricing pressure.

Early Sellers Often Control the Narrative

Listing before the seasonal surge allows sellers to establish value without being influenced by a flood of comparable homes. In many cases, this translates to stronger showing activity and cleaner negotiations, simply because buyers have fewer substitutes.

The Takeaway

The next 60 days represent a strategic selling window:

• Inventory is still low

• Buyer demand is present

• Competition will only increase from here

For homeowners considering a move this year, timing can be just as important as pricing and presentation. Acting before the spring inventory wave arrives can meaningfully improve positioning in the market.