If you want to earn a side income from your basement? Renovating your basement into an apartment to use as a rental unit is a great way to earn extra income. Most homeowners earn back their investment before the end of the first year. We are assured that your empty basement is doing nothing but storing last year’s Christmas decorations, old furniture, and the clothes of your beloved outgrown kid. So, don’t let this space for wastage anymore. Convert this into an amazing apartment to earn some extra rental income.
Somehow, there is plenty of space in the basement that, once finished, can work as its complete living space. So, if you don’t want to rent it out, you can still remodel it most decently, to give a separate room to any of your kids. However, If you use your basement only once in a blue moon, you have to consider turning your basement into something useful and profitable.
Now If you have made up your mind to convert your basement into a profitable rental apartment. First, make sure there are some important aspects that you should consider. You can also feel welcome to contact us; Dream Home Improvement for a free estimate as we are one of the best contractors for Cape Cod basement remodeling services.
Basement Remodel for Personal Use
If you are a person from whom profit and investment aren’t motivation. You can simply convert your basement into a place for a relative to live or for friends for night stays when they visit you. Somehow, if you are someone who doesn’t like trailing the comings and goings of travelers. You should think about renting your basement for the long term. As renting out your basement is a better option rather than converting it into a gaming room.
We know that it sounds like too much work but even so, you’ll make a better return on your investment. Compared to the average homeowner who converts their basement into a personal use or in a gaming room. Regardless of the reason you want to do a basement remodel, you’ll want to make sure you do things the right way.
Here from the reviews of our experts of Cape Cod basement remodeling services, we’ve listed some important steps that will help you in converting your basement into an apartment.
Above All: Is it Legal to Convert Your Basement into an Apartment?
Before starting to select the paint colors and flooring samples, confirm with your local zoning department to see if renting a basement apartment is legal in your area. If yes, communicate with the building official to make sure the design you have in mind aligns with the building codes and zoning requirements. Building and zoning requirements differ area to area, upon various things, the number of residents, the number of exit doors, rooms you’re required to include, and parking availability.
Designing Your Basement Apartment
Are you planning to create a modern apartment or a studio? An open floor plan for your basement apartment may save you time on building new walls. A traditional floor idea will let you charge a higher price for the rental. Take the exact square footage size of your basement and then decide which floor plan will work best for you.
The best strategy is to consult with a professional local contractor, who can provide you the best services with proper plumbing, electrical, and insulation work, as well as to guide you with the installation of drywall. Not sure where to start or what questions to ask while hiring a professional contractor for the remodeling of your basement. Readout our list for hiring a contractor.
You are always welcome to rely on our expertise. Our local serving and reviews prove; why we are the best local contractors for Cape Cod basement remodeling services.
Plan Foor of the Basement Apartment
Once you have finalized the general design of your basement, it is time to shift your focus towards the floor. The floor will serve as the foundation of your remodeling process. No worries, if you are not sure about how many rooms you can add to your basement apartment. Just gets the exact size and use the internet to get the best possible inspiration. Focus on a local apartment to meet the trending demands of your locality.
Rooms that are considered necessary for your basement apartment:
- Living Room
- Dining Room
- Storage Room
Start Your Basement Remodeling
Install a separate exterior entrance to the apartment for lawful reasons, fire safety, and your renter’s convenience. Don’t forget to make sure your basement apartment plans include an outdoor entrance separate from the house. Create a well-defined living space and a useful design. However, If you are planning to create a studio apartment instead of a more customary layout, creating defined rooms won’t be essential.
Facilitate heating and cooling with a separate system. Separating your newly remodeled basement apartment’s utilities from the main home will make it easy to divide the bills or turn the facilities off if the apartment has to be kept empty for a long time. Install the needed electrical and plumbing systems. Your renters will surely need electricity and proper plumbing, and easily splitting of utility bills applies here as well. Just rapidly finish the walls, floors, and ceiling and make sure your basement apartment is up to date with proper roof installation, waterproofing, insulation, and flooring.
Important Considerations while Remodeling a Basement Apartment
Flooring can be difficult, especially when it comes to designing a basement apartment. The floors of an incomplete basement are usually unclean and cold. Usually, a carpet is the best answer to create a cozy, warm space. Even though the room is being converted into an apartment; logically in-law suite, it’s still the basement of the house. Basements are known for being likely to get humidity or flooding, so it’s important to add waterproof flooring when you’re remodeling your basement. Vinyl, tile, and carpet are great choices for an apartment-style suite that also works perfectly for basements because these products have waterproof features.
If you are considering installing hardwood floors in the rental unit, you may want to consider heating the floor as well. But make sure that for hardwood flooring installations beneath ground level, you’ll want to go for engineered hardwood in place of solid hardwood. Engineered hardwood is much more resistant to the temperature and humidity swings that many basements are predisposed to.
Useful Amenities to Install When Remodeling a Basement Apartment
To create an entirely comfortable basement apartment, there are beneficial amenities that need to be installed. Other than the basics such as a kitchen, bathroom, and living room, a designated laundry room would be valuable – even if it’s simply a fixed unit in closet space. In the kitchen, in addition to a refrigerator and stovetop, a built-in microwave also would be a bonus. Moreover, if you feel like a bright and bold hue will boost up basement living, stay away from making the walls a glowing color. Classis colors will play off of any natural light that comes in through the windows while keeping the rooms looking fresh.
While renting a fully furnished apartment isn’t common but it is definitely valuable. Renting a completely furnished apartment is vital if you plan to use the space as an Airbnb. If you plan on using it as an apartment, rent out out the basement as a furnished unit can give your monthly rental income a boost. However, you will need to be aware that your furniture might gain a few scratches and dents.
Bonus Tip from The Best Contractor for Cape Cod Basement Remodeling
Once you have entirely converted your basement into a beautiful new rental unit. The biggest task starts from here and that is to look for paying renters. Take photos of your complete finished space with a professional camera to show off just how much hard work has been put into establishing the basement apartment. Once you have photographs, upload them to a listing website along with an exclusive description and the rental price.
Dream Home Improvement LLC is a foremost brand in basement remodeling with over 15 years of experience in the industry. We offer supreme basement remodeling services in Cape Cod. Our customers find us to be trustworthy and capable, as we use the latest technology and tested techniques to provide the best results. We offer a variety of home improvement services in Cape Cod. If you choose us, we guarantee you that you will find our basement remodeling service to be economical, excellent & you will want to hire us again for our service. We get the job done every time. Let’s connect to help you take care of your roof and save thousands of dollars in roof damage.