When I was looking for a home several years ago, I couldn’t believe how many houses had an “in-law suite” or basement apartment. In the end, the small bungalow I purchased had a partially finished basement that I have some big plans for. I keep putting off the work, but maybe this is the year to finally take care of it.
While looking around for ideas I noticed that the Canada Mortgage and Housing Corporation (CMHC) has a free fact sheet called Renovating Your Basement for Livability. Apparently, renovating your basement can give you more living space or an income generating unit. Both options would add to the value of your house.
I’ve been approved for a home equity loan to cover the costs of my home improvements. I’m really looking forward to almost doubling the size of my living space. I can’t wait to get started.
