What should a feasibility study tell you?
It should help you decide what to investigate, what to rule out and what evidence to obtain next. The useful result is a direction with reasons, assumptions and a clear next action.
For a Toronto property, compare multiplex and accessory dwelling unit options against your goals. Family accommodation, rental housing and a potential purchase can lead to different decisions even on the same lot. Write the brief before selecting a building size.
Separate what is known from what is assumed. A public-record screen, a concept massing and a permit-ready design answer different levels of question.
Five parts of a useful property review
| Part | Question | Next evidence |
|---|---|---|
| Permissions | Which housing types and controls apply? | Current zoning, exceptions and applicable overlays. |
| Physical fit | Can the buildings and homes work on this lot? | Survey, existing conditions and preliminary layouts. |
| Construction | What scope is required and what could alter it? | Consultant investigations and scope-based pricing. |
| Funding and operation | Can the owner fund and carry the project? | Lender review and evidence for income and expenses. |
| Delivery | What must happen first? | Approval route, dependencies and an action plan. |
Toronto’s multiplex guidance ↗, garden suite resources ↗ and laneway permit guide ↗ provide starting references. Apply them to the actual address and proposal.
Compare routes using the same assumptions
For an existing house, consider whether conversion is practical before assuming replacement. For a rear suite, investigate access early. For a combined multiplex and ADU, check how both buildings fit and are serviced together.
Give each route the same comparison headings: total homes, gross construction area, usable-area assumptions, construction allowance, other project costs, approval dependencies and unresolved conditions. Show the principal building and rear suite separately.
Keep land and existing debt visible when assessing funding. An owner retaining a property and a buyer acquiring it are not starting with the same capital position. Use verified financial inputs instead of assuming that more homes produce positive cash flow.
Which unknown should you resolve next?
| Uncertainty | Next action | Decision affected |
|---|---|---|
| Six homes assumed from a listing | Check current zoning and the adopted overlay. | Whether the six-home option belongs in the study. |
| Rear access looks narrow | Measure the complete route and review fire access requirements. | Whether a garden or laneway suite is workable. |
| Conversion scope is unclear | Review measured plans and investigate structure and existing conditions. | Whether retention compares favourably with replacement. |
| Funding depends on an assumed loan | Obtain lender feedback using the same scope and occupancy plan. | Whether the owner can fund the project and when. |
For an owner, a smaller project or a later start may remain useful alternatives. For a buyer, the decision may need to be made within a purchase due-diligence period. Set the evidence deadline with your advisors and do not treat unanswered questions as favourable findings.
Record each important assumption, who will verify it and what would change if it proves wrong. Use the fourplex, sixplex and garden suite guides to frame those specific checks.
Resolve the inexpensive questions first
- Screen: verify the address and identify preliminary multiplex or ADU directions.
- Gather: collect a survey, title information, existing drawings and known permit records.
- Investigate: resolve the constraints most likely to stop or change the proposal.
- Compare: test layouts, quantities, a concept budget and the owner’s priorities.
- Decide: proceed to design, obtain more evidence, choose a smaller scope or pause.
Before buying, establish which unknowns must be resolved during your due-diligence period with the appropriate advisors. A preliminary screen is not a substitute for purchase due diligence.
Choose the level of review you need
Property Potential · Free
An initial property screen to help identify questions and preliminary directions. Start with a verified address and read the evidence and limitations in the result.
Check your property free →Property Strategy · $780 + HST
A site-specific physical strategy study with development options, zoning review, diagrammatic plans and massing, a concept construction budget and roadmap. Includes a 60-minute consultation.
See what the report includes →Surveys, engineering, permit drawings, approvals and optional Realist financial modelling are separate. If you are unsure which question to tackle first, book a free 20-minute project consultation.
Sources & scope
- City of Toronto: Multiplex Housing ↗
- City of Toronto: Garden Suites ↗
- City of Toronto: New Laneway Suite ↗
General guidance for Toronto properties, based on the linked resources checked September 30, 2026. Public guidance and rules can change. Confirm the current applicable requirements for your address and design. These guides are not a permit approval, a site-specific feasibility finding or a contractor quote.