Creating A Desirable Income Suite In Your Finished Basement

Creating a Desirable Income Suite in Your Finished Basement

Depending on the location, style, and underlying water table, a home may have either a partial or complete basement under the first floor of the home. While this space has been used in the past for storage and the occasional rumpus room, more and more homeowners are finding ways of turning the basement into a source of profit. How is this done? Let’s take a moment to find out.

The Basics of Converting a Space

While there is a great deal of variation, the typical basement space incorporates several different rooms that are below the first floor of the home. While lighting may be limited, the utility of this space is not. More often than not, water pipes and other necessary structure for quickly and affordably converting a basement space are already there.

In the City of Ottawa, there are several basic requirements for a basement apartment. These include safe egress, a fire-resistant door, a bathroom, sufficient natural light, minimum ceiling height, and so on. Your income suite must be safe and completely up to building code and fire code. Beyond this, you want to create a space that is attractive to desirable tenants.

Consider Hiring A Professional Contractor in Ottawa

During this process you will be hit by a range of problems that differ in the effort and skill required to tackle. You will also want to choose certain tasks to do first as they will either take the longest or be necessary steps to further work done later in the redesign. In either case, the best thing you can do for yourself is to consider hiring a professional renovation contractor.

What they will help you do is create a schedule of what needs to be done, what needs to be purchased, what is possible with the space provided, and how long everything might take. They may also know local plumbers and electricians, who will help you get your basement space up to code as its own separate apartment. Either way, with professional help you begin the process on solid ground and set yourself for success down the line.

With major considerations out of the way, you will want to re-evaluate your cost and consider special amenities. Perfect for attracting that ideal tenant, these amenities will help make your space an attractive potential location for tenants looking in your area. As a final consideration, take into account the quality of the work and materials in a 10 or 20-year plan consideration. Will it cost more now to install good quality fixtures or replace them between tenants? This, along with many other questions is a thing that a professional home renovation contractor in Ottawa like will be able to answer.  Please don’t wait to give us a call at (613) 727-9427 to get the ball rolling. You can also use this form to request a free in-home consultation and estimate.