BASEMENTS:LEGAL AND LEISURE.

A secondary suite comes with many upsides. 

At its core, there are two main reasons to renovate a basement:
To play host to whatever your heart desires or to pursue practical money making ventures. 

In both cases, converting an unfinished or unrealized basement into a finished apartment plays to your favour, if money and circumstances allows you to do so. 

Got a budding rockstar in the house? Dreaming of your own yoga studio?
The soundproofing required to pass inspection also doubles as a sound barrier for personal use.

Have aging parents or in-laws about to enter their golden years?
Finishing your basement gets you ready — well in advance — to provide comfort and peace of mind to your family.

Want to moonlight as a real estate investor?
A legal basement opens doors to a second source of income and can be used as collateral to secure a small business loans.  

FAQs

  • Typically 4–8 weeks, depending on permit timelines, scope of work, and the size of the basement.

    • Electrical permits: approx. $3,000

    • Mid-tier finishes: $40–50/sq.ft (labour + materials)

    • High-end finishes: Add $20–25/sq.ft for premium suppliers like Ginger’s, Centura Tile, and custom millwork or glass.

    • Architectural/Structural drawings + permits: approx. $5,000

    • Construction costs: ~$100/sq.ft in 2025 market conditions

    • Legal basements must have two methods of egress – requiring one main entrance/exit and one means of emergency escape (egress window). 

    • A legal duplex must meet fire separation standards between ceiling/floor assemblies and walls enclosing common areas like furnace rooms.  

    • A legal duplex must also meet sound separation standards achieved by installing ⅝” Silent FX drywall, resiliency channels and RockWool Safe n Sound insulation 

    • Although closets are not technically required in bedrooms under the minimum standards of the Ontario Building Code, some municipalities and real estate agents expect them in order to list the house with extra bedrooms — effectively increasing the property value of the house. 

    • Each legal unit in a duplex requires access to either a separate laundry room or shared facilities. Separate facilities allow you to market the duplex at a premium should you decide to sell the house or rent the upper floors to a second tenant.

  • The ROI on a fully legal basement typically ranges from 25-50% depending on the neighbourhood and quality of finishes. The increased equity in your home can also open doors to take out another loan for a second property or to use your home as collateral for a small business loan. 

    That said, we always advise to renovate your basement for your own enjoyment, with money you can afford to spend.