On the surface, renovating your home’s basement might seem like a simple thing to do, however, if you want to get the most value out of your property or want to obtain rental income from your basement, you will want to better understand the requirements of what a legal basement is in Ontario.
What is Considered a Legal Basement Apartment in Ontario?
A legal basement apartment in Ontario must have at least 145 sq. ft. for a bachelor unit, increasing for additional bedrooms, and a ceiling height of at least 6’ 4” ¾. And windows in living rooms and bedrooms must meet specific criteria for ventilation and safety.
Requirements to Getting a Legal Basement in Ontario:
1. You must apply for a local building permit in the city or town where you live, such as with the City of London, Ontario, if you live in London.
2. This permit must be approved by the city or town in which you live.
3. Make sure your basement is compliant with the Ontario Building Code requirements for legal basements, such as having at least 145 square feet of space for a bachelor unit apartment, which increases with additional rooms.
4. If your home is over 5 years old it must comply with the existing building code, while newer homes must comply with the most recent building codes.
5. In addition, in Ontario a legal basement apartment, classified as a ‘second dwelling unit’, must adhere to the Ontario Building Code and Fire Code. These regulations ensure the unit is safe, functional, and meets local zoning laws.
6. If you are considering using your new legal basement as a rental, you must also inform your insurance company.
In addition, before deciding on renting out your basement as a secondary suite or basement apartment, you might want to check how much more you will have to pay for income tax, since the money you will receive from the new rental space will be considered as rental income on your income tax return.
However, if you are currently having issues with paying your mortgage, due to the increased cost of monthly mortgage payments, as a result of higher interest and rental rates over the past few years, creating a legal basement apartment to supplement your other income stream(s) might be a good idea to shore up those costs.
To learn more about the requirements of a legal basement according to the Ontario Building Code, please visit: https://www.ontario.ca/page/add-second-unit-your-house#section-4.
What are the Main Benefits of Having a Legal Basement Created in Your Home?
1. Increased Living Space. Legal basements create additional living space in your home, while also increasing appeal to potential homebuyers or renters.
2. Greater Home Safety. Legal basements also improve the safety of your home, since when they are built to conform to local home building codes, they need to be built much safer.
3. Reduces Legal Issues with Basement for Renters. As a result you are a lot less likely to face any legal actions from renters, if you choose to rent out the basement of your home.
4. Boosts Home Resale Value. And in addition, being compliant with the Ontario Building Code and local building regulations related to legal basements will not only increase the living space of your home, but also significantly increase your home value.
Three Reasons Why You Can Trust Oak 42 With Your Next Legal Basement Renovation?
1. We are basement renovation experts, since we have been doing professional basement renovations for over 20 years in the London, Ontario area. To check out some of our latest basement renovation projects, you can visit our website renovation project Gallery page at: https://oak42.ca/gallery/ or visit our basement renovations page to fill out our contact form.
2. We follow all local and provincial building codes (i.e. the Ontario Building Code) for all of our renovation projects, such as legal basement apartments or home additions.
3. We are a local, family-owned and operated London, Ontario, home renovations company, which are 100% focused on providing excellent customer service and providing high quality workmanship at competitive prices!
