Big Fat Deal: $5 million to start your kids off on the right foot

Each week, BCBusiness takes you inside one of the most outrageously upmarket real estate offerings in the province

Address: 6398 Elm Street, Vancouver

Price: $4,998,000

Listing: R2236114

The skinny: Four-bedroom, four-bathroom, 3,538-square-foot house on an 8,140-square-foot lot in tony Kerrisdale.

The bling: Yes, it’s that time: the kids are graduating and, while there are acres of room in your palatial family home, you want them to start student life off with more independence. They need room to grow, to live a little. And anyway, the constant roar of all their friends’ Lamborghinis and Maseratis up and down your driveway is becoming annoying. But you don’t want to spoil them—no Italian marble, media room or swimming pool for them—it’ll be good to have them slum it for a few years. Here’s the perfect student hangout: modest, but big enough for a friend or three to stay, a backyard that can easily host parties (go on, you can stump for a hot tub), a second reception room that looks big enough for a pool table (they have to relax sometimes), and in a really nice part of town where they will be safe (and you can keep an eye on them). And when they graduate, you can either cash in or bring in the bulldozers and build something more fitting to your spectacular status in life. 

The hidden extras: Open fires (hmm, might have to rethink those), large deck, tiled bathrooms (the cleaning staff will thank you), garage and plenty of parking (kids and their luxury cars, eh?).