Posted on: 28 November 2016
When you are looking at homes with your real estate agent, you may have a wish list that includes an open concept kitchen and a backyard with a pool. While you may be interested in certain features that makes your home more enjoyable, you should invest in features that will make your home liveable for a long time. Here are three reasons you should look for and invest in a home with a basement apartment.
You can allow a family/friend move in
If you need to have family live with you either permanently or temporarily, a basement apartment in your home will make things easier. Sometimes family members need help and being able to help them may be a priority if you are family oriented. With a basement apartment, a relative or relatives can come and stay with you without you needing to clear out space nor be interrupted in the main house. A basement apartment also makes a good space when you are hosting people for the holiday season.
You can earn money if things get rough
Hard times can hit anyone. The first thing that you may worry about when someone loses their job or when your family hits a financial hardship is how to keep up with the mortgage. With a basement apartment, you always have a built-in money maker. When you first move in, make sure that the basement apartment is up to code as a living space. Being able to bring in a renter who has their own space can be a big help with the mortgage and with being able to save money during bad and good financial periods.
The kids can make an easy adjustment to adult life
Children needing to be at home during or after college is a common event. If your child would like more freedom than living in their old bedroom permits, you can give them the downstairs basement apartment. Your child or children can pay a little bit of money for the use of the basement apartment. In exchange, they can have their own space and the freedom that living in an apartment building would allow. Having a space that your adult children feel is theirs may make them more likely to remain home, which can be a great help to anyone.
To find a good home with a basement, talk to a real estate professional in your area.Share