Designing a basement apartment in your home is a great way to earn a little extra income and pay down your mortgage faster.
Investment properties are very popular these days – buying homes to rent out to people, or buying a home with a large basement to remodel into a rental property.
When converting your basement into an apartment, certain things need to be considered. Firstly, how large an apartment can you create? One bedroom? Two? Will there be enough room for a bathtub, or would a shower stall make more sense? How will you partition the apartment from your boiler room or garage? Where can they do laundry? You will want to install a separate entrance for the tenants, create a separate address for them (i.e. add a 1/2 or an A to the existing address), and install a mailbox for them.
Once all the permissions have been granted from the city or county, you can get down to the business of designing a basement apartment.
Light is a major factor to consider. Apartments below street level can be greatly lacking in light. When designing the space, long horizontal windows can make all the difference, since vertical windows are often not an option.
Making the most of the space set aside for the bathroom, many homeowners choose a large, stylish shower stall over a traditional bathtub. It gives a small space a really modern, open feel, with glass doors and stainless steel accouterments.
The kitchen is another area where making the most of a small space is essential. Supply a fridge and stove is standard. If your home is hooked up for gas, you may be tempted to install a gas stove for your tenant to cook on. Before you make that decision, check with your insurance company, along with county or city building departments about fire regulations in your area. You may not be covered for a tenant using combustibles to cook on your property.
Cupboard space, closets and general storage is a concern for most people these days. We have accumulated a lifetime of items, and have no place to put them. If you convert your basement to an apartment, you lose your standard storage option. Building an outdoor shed for your use is helpful. If you give your tenant access to such a storage option, it may be a real selling point for them. Other homes may not offer such a great incentive.
Designing a basement apartment can be fun. However you choose to set up a basement apartment, keep light and space in mind. Everything else is just decoration.
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