262 Hume Street

20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing.

suite rent

$1,890/mo

your cost after the suite

$6,595/mo

vs $8,334 without it

Costs: mortgage $7,478 · tax $681 · insurance ~$175 · vacancy 3% · upkeep 5%.

Suite rent is today's market rent for a 1-bedroom in New Westminster: CMHC's average there ($1,645) raised by what new tenants pay against everyone in the Vancouver area, then down 1.5% with Vancouver's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

Catchment schools, New Westminster School District 40

• Elementary Queen Elizabeth Elementaryhomes in this catchment

  900 m away · 921 Salter St, New Westminster · 604-517-6080

• Middle Queensborough Middle Schoolhomes in this catchment

  1.2 km away · 833 Salter St, New Westminster · 604-517-6040

• Secondary New Westminster Secondaryhomes in this catchment

  4.3 km away · 820 6th St, New Westminster · 604-517-6122

From the New Westminster School District 40's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.