There are many reasons homeowners may decide on turning their basement into an efficiency apartment. Whether it’s for financial security in alternative income purposes, for the comfort of family, or to entertain guests, learn why you might love the benefits of an efficiency apartment in your basement.
Extra Rental Income
Use your extra basement rooms to your advantage by making a great space for renters. An efficiency apartment can easily provide a lasting income option. When planning your basement rooms, think of it as it’s own separate home. This will help ensure it becomes an apartment your renters will love. Your licensed contractor can help with this aspect. If you ever decide to sell your home, having an efficiency apartment could add value to your home and make it easier to sell.
Nicer Guest Room Space
When family and friends visit, it’s nice to have a place to put them, other than the couch. Giving them a space they can call their own while visiting will help them feel more welcome. Putting the guest quarters in the basement leaves more room for creativity and space. Imagine how comfortable your guests will be with their own apartment. At a later date, when you no longer have guests, you might opt to rent out the efficiency apartment for extra income.
Private Area for Aging Parents
Much like the guest area, aging parents would be happy with their own separate area. As parents grow old, they sometimes need extra care or have other reasons to be closer to loved ones. At the same time, they are adults and may want to feel independent. An efficiency apartment gives them the best of both of worlds. They can have their privacy, yet still have loved ones close by, if needed. If caregiving is needed, that could easily be you. If a professional caregiver is required, the separate space would likely make it easier. Even if your parents don’t require caregiving, it may still be a good idea to keep them close, for family or personal reasons.
Private Area for Older Children
When your children grow older, they may crave and even need their own space. Some may enjoy the efficiency apartment in teenage years, while others may be thankful to have it during college or tough times in adulthood. You may find both to true for your family. When you have an efficiency apartment in your basement, it helps ensure your kids will always have a place to come to if they need it. This should give everyone some peace of mind.
Professional Office For Home-Based Business
Do you run your own business or work in a business that requires a professional space to meet with clients or customers? An efficiency apartment can be a great space to use for this purpose. This would help cut down on commuting costs, as well as the cost of renting an office space or storefront. Having this space in your basement keeps you close to home, while still keeping g the business space separate from the living space.