Bull Homes builds permitted, code-compliant basement apartments across Toronto and the GTA — $2,200–$3,400/mo in legal rental income, fully under one roof.
CMHC's Refinance for Secondary Suites lets eligible owner-occupiers refinance up to 90% of post-build value (vs. 80% on a standard refi), with up to 30-year amortization. We coordinate the application with your mortgage broker before construction starts.
Every Bull Homes basement we've submitted has passed permit review. We know the OBC 9.36 requirements, fire separation rules, egress windows, and ceiling-height triggers.
2026 GTA market data: a permitted 1-bed basement apartment rents for $2,200–$3,400/mo depending on neighbourhood. Illegal apartments rent for less and risk insurance + tax exposure.
Most legal basement apartments in the GTA fall in the $90K–$180K range, depending on whether the basement is already finished, ceiling-height work is needed, fire separation is required between units, and finish level. We give you a written cost range after the site assessment — no hidden numbers.
A legal basement apartment is permitted by your municipality and complies with the Ontario Building Code (Section 9.36) — proper egress, fire separation, smoke alarms, and ceiling height. Illegal apartments expose you to insurance denial, tenant disputes, fines from the city, and reduced resale value. Legalization also opens up CMHC's Refinance for Secondary Suites program for financing.
Typical timeline: 1 week assessment & feasibility report → 3–4 weeks design → 6–8 weeks permit review → 8–14 weeks construction. Most projects finish in 5–7 months from first call to handed-over keys.
Most clients use CMHC's Refinance for Secondary Suites — refinance up to 90% of post-build value (vs. 80% standard refi), up to 30-year amortization. Requires owner-occupied property, eligible Canadian status, and post-build value under $2M. We coordinate with your mortgage broker and CMHC before construction starts. Some clients use a HELOC or private financing instead. Subject to lender approval and CMHC eligibility. Bull Homes is not a mortgage broker.
Free assessment. Written feasibility report. No sales pressure. We'll tell you honestly whether your basement is worth converting.
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