Don’t worry about rising interest rates, your home can help you pay it off

Don’t worry about rising interest rates, your home can help you pay it off

You can make on average $1500/month just from renting your finished basement. I Don’t worry about rising interest rates, your home can help you pay it offprovided 5 ways you could benefit from your basement.

1.    Increases the Value of Your Home

Basement finishing may not be the top priority for many people when it comes to renovating their house. Many people don’t consider how much they can increase their property value by spending few thousand dollars on their basement. Also, when it comes to reselling your home there’s a high demand for homes with lots of space for big families. This makes finished basements very marketable. We’ve finished basements for clients who have received a return on investment of over 150%.

2.    Creates More Space

The basement will add a great amount of functionality to the home. An extra living space could be used as a playroom, office room, family room, or workout room. With the rising property prices in Toronto GTA young individuals are having a tougher time to buy their own home. This has caused more people leaving in the same property. By finishing the basement they will have more space.

A finished basement can still provide storage, but instead, boxes can install attractive shelving.  Finished basement can provide additional storage, shelving, and increase general organization.

3.    Flexible Design & Decorating

Unlike your main level, a basement design can be quite flexible because there are many loads carrying structures. Large, open spaces can be used for entertainment, guests, storage, and gym or even rent the property. You may find that a finished basement gives you the place to decorate and that you can easily create the comfortable area.

4.    Economical and Comfortable

A finished basement is nearly always a great place to spend time. Usually, colder in the summer, and warmer in the winter bedroom that stays cool all summer.

5.    Cost

Basement finishing increases your house value without spending a lot of your budget. If you are converting the basement into a rental property, it is better to have a separate entrance to the basement. This will give you and your tenants more privacy. In this case, you will need a bathroom and a kitchen in order to create a self-contained apartment.