Most people know what a duplex is. A duplex really is nothing more than a name for a house that’s split in half and bordered up, with the other half rented out as an extra source of income. Traditionally duplexes are made using the upper two floors of a house, with the first floor serving the owners of the house (or another renting family), and the second floor being renovated to act as an apartment, and rented out to families as well.
Increasingly, though, a lot of homeowners are finding another option that they can do that’s much like creating a duplex but doesn’t dismantle the second floor of their home, while at the same time increasing the value of their home over time.
Creating a Basement Apartment.
Why, though? What would be the benefits?
There actually are a lot of benefits to finishing out a basement and remodelling it out as an apartment for others to use.
Traditionally, basements are pretty dirty compared to all other rooms in a home. They’re generally used for storages, and over time build up a lot of dirt, debris, and moulds that aren’t conducive for a living environment. Not only that, but they can be damp, and aren’t designed for centralized air conditioning that can regulate the temperature of the room to a comfortable level.
However they do have one advantage that makes them perfect to be converted into apartments: They’re typically large, with a well planned out open floor design that typically extends throughout the whole of the house. Plus, they’re filled with support beams that hold up the house, giving remodelling experts an excellent design element for creating hallways and rooms.
So then what are the benefits of adding in an apartment in the Basement then? Why would you even need to completely renovate and remodel a basement?
The simple answer is it can help generate an additional source of income for the homeowners who aren’t using the basement for anything other than storage. By creating a finished basement that includes a kitchen area, a bathroom area, and one or two bedrooms you’ve effectively created another home, and typically finished basements add value to a house, helping to improve the overall resale value of a home. It’s not unusual for homeowners to have their homes appraised after renovating and creating a finished basement and finding that the value of their houses doubled, or even tripled.
Not only that but an apartment area in the basement can even be rented out that can bring extra wealth to the homeowners as well, helping to offset the cost of any remodelling job done. If subletting an area of your home to strangers isn’t an idea that you really fancy, then that’s also completely alright, as having a basement apartment is perfect for overnight guests, having them treat the floor space as they would any other home. That way any homeowner has a guest area that they can feel comfortable knowing that it’ll fit anyone’s needs.