7115 Wallace Dr

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

suite rent

$1,860/mo

your cost after the suite

$3,558/mo

vs $5,269 without it

Costs: mortgage $4,621 · tax $473 · insurance ~$175 · vacancy 3% · upkeep 5%.

Suite rent is today's market rent for a 1-bedroom in Central Saanich: CMHC's average there ($1,594) raised by what new tenants pay against everyone in the Victoria area, then down 1% with Victoria'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, Saanich School District 63

• Elementary Brentwood Elementaryhomes in this catchment

  300 m away · 7085 Wallace Drive, Brentwood Bay · 250-652-3996

• Middle Bayside Middlehomes in this catchment

  1.0 km away · 1101 Newton Pl, Brentwood Bay · 250-652-1135

• Secondary Stelly’s Secondaryhomes in this catchment

  900 m away · 1627 Stellys Cross Rd, Saanichton · 250-652-4401

From the Saanich School District 63'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.