Due to urban density and sky-high real estate prices, homeowners have embraced building a secondary suite to help manage living expenses. A secondary suite can provide a steady revenue stream and increase property value. In addition, it helps address the need for more housing in Toronto.
The Renovators of Canada (T-ROC) share more information about building secondary suites in Toronto.
What is a secondary suite?
A secondary suite is a fully contained dwelling on a residential property with its own kitchen, bathroom and sleeping space. Secondary suites can be separate dwellings built outside the home, like a garden suite or laneway home. However, the most common secondary suites are basement suites.
Can I build a secondary suite?
Before 2019, building secondary suites like laneway homes or garden suites on the property had more limitations. Thanks to the More Homes, More Choices Act, garden suites and laneway homes were permitted on more types of properties throughout the GTA. This act made building secondary suites more accessible for people and helped lower-density zones throughout the city.
Before planning to build your suite, you should check the zoning bylaws in your neighbourhood. Some zones allow different types of suites. You’ll also need to have adequate parking and access for potential tenants within the boundary of your property. If you’re unsure, this is something T-ROC can help you research.
Who benefits from secondary suites?
There are so many beneficiaries of secondary suites. First, the homeowner benefits from having steady revenue to help pay the mortgage and other expenses. It also raises property value and makes the home more attractive to future buyers. A secondary suite will make home ownership in an expensive city more manageable.
Second, people in the community benefit by accessing a more diverse housing selection. Not everyone can afford to purchase a home, so there is a need for affordable, safe and comfortable housing throughout the GTA. Basement suites, garden suites, and laneway homes in Toronto provide a greater variety of housing choices at different price points.
Finally, the city benefits! Allowing secondary suites in more neighbourhoods reduces extreme population density in others. And it also allows people to live in mature neighbourhoods with established infrastructure like roads, commercial shops, recreational facilities, and health care centres. Secondary suites provide the opportunity for healthier population growth.
Start planning!
Building a secondary suite is a significant undertaking and investment. Start by contacting The Renovators of Canada. They are the experts in building secondary suites, specializing in basement suites, laneway homes, and garden suites in Toronto.
