5 Benefits of adding a basement suite
1. Rental income to pay down your mortgage
2. Instantly increase your home’s resale value
3. Make an inviting home office
4. Live with family... while maintaining privacy
5. Private space for out-of-town guests
Now that you are convinced, here are some tips for creating or buying that basement apartment.
Updated Finishes
A basement apartment should be attractive. Clients look for updated finishings. modern or contemporary hardware, light fixtures, and faucets. Any other fixtures should be clean, modern and properly installed.
Open-Concept Layout
Sometimes you don’t have much control over the layout, but when there’s flexibility, open-concept is the way to go. The kitchen and living space should be as close to the entrance as possible and the main bedroom as far away from the entrance as possible. And in a basement, maximize open space, and it will make the space look bigger.
Separate Entrance
It goes without saying, but a basement apartment without a separate entrance sucks. If you have to install it yourself it can be very expensive, so definitely look for a property that already has one.
High Ceilings
When it comes to basement apartment requirements, the ceiling height should be no less than seven feet for most of the space. However, the higher the better. It is common to see 9' or 10' ceilings from new builders in Edmonton. Once you start digging down, it becomes a very big project, you will want to avoid that so keep an eye out for low ceilings when house shopping.
Full Kitchen
A full kitchen that includes a dishwasher is the best way to impress tenants and command a high price. Just because someone is living in a basement doesn’t mean they have to sacrifice functionality. While you can get away with not having a dishwasher in the basement kitchen, we don’t recommend it.
Separate Laundry
Even if space is tight, providing tenants with a washer and dryer that is exclusively their own is a huge feature. In fact, it can really make or break a rental agreement. If the laundry units can only be shared with the upper floors of the house, it’s not the end of the world. But, keep in mind, a separate laundry will usually get you a higher price.
Bright Lighting
Since ceiling height is often at a premium and that would make the windows small so lighting is very important. My favourite is recessed lighting, sure, chandeliers and pendants can look great, but recessed lighting will get you the best bang for your buck, and it will look great. If you want to have a pendant over an island or a decorative chandelier somewhere, do it, but not at the expense of recessed lighting throughout.
