We turn unused basement square footage into a fully legal, fully permitted second suite — generating monthly rent or housing extended family without compromising your main home.
If you own a single-family home in the GTA with an unfinished or underused basement, you're sitting on the most cost-efficient income suite available. The square footage already exists. The foundation is built. What's missing is usually a separate entrance, proper egress, a second kitchen, fire separation, and a permit package that proves it's legal.
That's exactly what we build.
City of Toronto and most GTA municipalities now permit second suites in single-family zones as-of-right. CMHC's Refinance for Secondary Suites lets eligible owner-occupiers refinance up to 90% of the home's as-improved (post-construction) value to fund the build — significantly more than a standard 80% refi. Combined with Toronto's 20-year interest-free development charge deferral (so you don't pay the city's DC up front), the project becomes self-financing for most homeowners with reasonable equity.
The result: a typical 800–1,200 sq ft basement apartment in the GTA, properly built and permitted, can generate $1,800–$2,800 in monthly rental income while qualifying for municipal DC deferral and CMHC refinancing.
Total project cost depends on three things: the existing basement condition, whether a new exterior entrance is required, and finish level. Below is a realistic 2026 pricing breakdown for the GTA market.
No estimates with hidden contingencies — fixed-price scopes once we've assessed your property.
Toronto requires 6'5" minimum ceiling height for habitable rooms in second suites (and 6'2" in some areas like washrooms). If your basement is shorter, options include underpinning (lowering the floor) or bench-footing. We measure exactly during the assessment and tell you upfront whether a lift is needed.
Typical timeline from contract signing to final occupancy permit: 4–6 months. About 8 weeks of that is design and permit approval, and 10–14 weeks is the actual build. We submit weekly progress updates so you always know exactly where things stand.
Most of our clients use CMHC's Refinance for Secondary Suites — it lets you refinance up to 90% of the as-improved value of your home (vs. 80% on a regular refinance), with amortization up to 30 years. To qualify, the property must be owner-occupied, you must be a Canadian citizen, permanent resident, or authorized to work in Canada, and the as-improved value must be under $2M. We coordinate the application with your mortgage broker and CMHC before construction begins, so the funds are committed when the build starts. Some clients prefer a HELOC or private financing instead — we'll walk through the options at your free assessment. Subject to lender approval and CMHC eligibility criteria. Bull Homes is not a mortgage broker and does not provide financial advice.
Toronto eliminated minimum parking requirements for residential properties in 2022. Most GTA municipalities now follow similar rules. There are exceptions in some suburban townships — we confirm during the site visit.
Yes — modestly. Adding a legal secondary suite typically increases assessed value and property tax by 5–10% in most GTA municipalities. The increase is usually a fraction of the additional rental income generated.
Yes — many of our clients build legal suites for in-laws, adult children, or returning relatives. The suite is still classified as a legal secondary unit (which protects you legally and qualifies you for incentives), but you decide whether to charge rent or not.
60 minutes on-site, a fixed-price quote within 5 business days, and full clarity on what CMHC refinancing and Toronto DC deferral could mean for your project.
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