A second suite can help pay the mortgage.
Most homeowners who call us aren’t building a portfolio. They’re paying a mortgage on the house they live in and want rental income, or space for a parent or adult child, to help carry it. A basement apartment or garden suite is the most direct way to do that on a property you already own.
Rent covers 43% of the mortgage.
Illustrative only, not a quote. Rent ranges are typical for Hamilton, Burlington, Brantford and Paris. Your mortgage and achievable rent depend on your property.
- Mortgage
- $3,600/mo
- Rent
- −$1,550/mo
- You pay
- $2,050/mo
Two reasons, almost every time.
- 01
Rental income to offset the mortgage
A legal, permitted unit rents for real money, month after month, and that rent goes straight at your carrying cost. It’s the single biggest lever most homeowners have over their monthly budget without moving.
- 02
A place for family
A parent who needs to be close but not under the same roof. An adult child saving for their own place. A caregiver. The unit doesn’t have to be rented to a stranger to be worth building.
What it costs, and what it’s worth.
Basement apartment
Garden suite
Wide ranges on purpose. Hamilton, Burlington, Brantford and Paris don’t all rent the same, and neither does a fresh renovation versus a dated one. Treat these as a starting point for your own math, not a promise. See Cost & Financing for what drives your number up or down.
You may not need the full cost in cash.
Most homeowners stack two or three of these.
From savings$30,000
Tap a source to switch it on or off. Illustrative only: programs, rates and eligibility change, and a grant or tax credit usually arrives after you’ve paid, not before.
HELOC against your home
Most lenders will advance up to 65% of your home’s appraised value on a line of credit, or up to 80% combined with your existing mortgage. For a $150,000–$200,000 build, this alone often covers most of it.
Canada Secondary Suite Loan Program
Up to $80,000 in low-interest federal financing (around 2%, 15-year term) for homeowners under a household income cap (roughly $209,420 for most of Ontario). Funds are drawn against the completed build, not paid upfront. Confirm current terms before counting on it.
Multigenerational Home Renovation Tax Credit
A one-time refundable federal credit worth up to $7,500 (15% of up to $50,000 in eligible costs), if the unit lets a senior or a relative eligible for the disability tax credit live with family. One claim per lifetime, and not for a unit rented to a stranger.
Municipal grants, where they exist
Hamilton currently offers an ADU grant covering 70% of eligible costs up to $40,000 per unit (permits issued after October 9, 2025), plus an Ontario Renovates forgivable loan of up to $25,000. Programs change often, so we confirm what’s live for your address.
We’re not a lender or a financial advisor. This is what our clients typically stack together, not financial advice. Talk to a mortgage broker or accountant about what fits your situation, and check current program rules before deciding.
For a homeowner, it comes down to cost versus privacy.
Basement apartment
Working inside a structure that already exists, usually the faster, cheaper path to rent coming in.
Garden suite
Costs more and takes longer, but a fully separate unit for a parent or renter, no shared entrance or walls.
Full comparison: Basement Apartment vs. Garden Suite
Same four stages, on your property.
Feasibility check
Does your basement or lot qualify, and which grants realistically apply?
Permit drawings
Building design and HVAC, done in-house, not subbed out.
Permit submission
Filed with your municipality on your behalf.
Approval and build
Permit issued, construction begins, rent starts.
Pick the question closest to yours.
We’ll tell you what applies to your address.
What your property qualifies for, and which grants or financing actually apply, before you spend a dollar on drawings.