(Un)Real Deal in Lions Bay

Canadian investment company sets sights on local property

Photo courtesy Wealthsimple.

This spring, someone is going to win a Dream Home valued at around $3 million ... and it's right here in Lions Bay.

Canadian investment management company Wealthsimple is offering what they call the (Un)Real Deal to potential clients. Signing up for the contest (which involves completing a questionnaire and opening a Wealthsimple account), gives each entrant 5,000 chances to win the grand prize. For every further dollar they invest, they can earn an extra chance to win.

The contest is only open to Canadian citizens or permanent residents, and entrants must be the age of majority in their current province or territory. Entrants must be legal residents of Canada both when they enter the contest and when the prize is awarded.

Wealthsimple's Chief Growth Officer Simon Lejeune says that new investors can also earn 20,000 bonus entries for each friend they refer who signs up and funds an account.

"The campaign is structured so that the more you save and invest, the more entries you earn," says Lejeune. "We want to reward people for doing something good for their financial future, with the added chance of winning something life-changing ... and no purchase is necessary."

Traditionally, winning a prize home through a raffle or giveaway is not always the windfall it first appears to be.

The aspirational nature of the prize often means winners having to move out of their area, away from employment and other support systems and into a home with an upkeep beyond their means.

A study posted by Homes.com in 2025 found that for American winners of prize homes the costs of federal and local taxes, along with property taxes, insurance, utilities and maintenance often forced winners to sell. The study also notes that many dream homes are located in areas that have a higher cost of living than expected.

In a story first posted in 2017 and updated in 2022, national broadcaster CBC addressed the number of lottery and prize homes that have been quickly resold, often for hundreds of thousands of dollars under their assessed value, for similar reasons.

In this case, Lejeune says Wealthsimple's got that covered. To begin with, he says, the grand prize isn't just the home. "The winner also gets $100,000 in cash to help cover first-year costs like property taxes, utilities, and getting settled. Wealthsimple covers all closing costs, legal fees, and transfer fees. And the home comes fully furnished."

This isn't the first home the company has given away as part of a promotion. Last fall, Wealthsimple gave away a $1.1 million home in Prince Edward County, Ontario, along with $100,000 in cash. Lejeune says the winner had just joined Wealthsimple as he was getting ready to retire.

He says the response to this giveaway has been "wild".

And what made the company choose Lions Bay?

"We look for homes that make you stop and stare — the kind of place that makes you think, 'Wait, people actually live like this?' The Lions Bay property nailed it. It's a three-bedroom, three-storey home with ocean, forest, and mountain views, a private deck with a hot tub, a full gym, a sauna, and a principal suite that takes up the entire top floor."

Lejeune says they were looking for a home in a community that people would actually dream about living in, not just visiting. "Lions Bay has that rare combination of genuine community, incredible nature, and proximity to Vancouver that's really hard to find anywhere else. When we saw this property, it was a pretty easy call."

Longtime Sunset Drive resident Betty Birrell, whose home looks out on the giveaway house, has a few concerns. "Of course, you can never choose who buys a house in your neighbourhood," she says. "But in this case, it's basically a windfall for someone. At least when there's a new buyer, they have chosen the area and hopefully have a commitment to the community."

Contest registration and new entries close on March 31, 2026, and the winner will be selected by random draw on or around May 4, 2026.

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