1. Return on Investment 💰
A basement apartment offers the absolute cash-on-cash return in real estate.

That means, if you were to invest $50,000 in building a basement apartment and rent it for $2,000 per month, you would have a cash-on-cash return of 48% and you would have a renter pay off your invested capital in just a few short years.

2. Ongoing Extra Rental Income🏡
Once your initial investment or loan is paid off, a basement apartment can offer an ongoing stream of rental income. By renting your basement, you can have tenants who can help you pay off your mortgage or cover other expenses.

3. Increased Home Value ⬆️
When you decide to sell your property, you can expect to get a higher price for it because of the additional living space.

4. Flexibility 🛋️
For investors, a basement apartment can be used as a rental property or as a living space for themselves, depending on their needs. For buyers, a basement apartment can be used to accommodate a large family, an aging parent, or as a home office.

5. Multi-Generational Living 👨‍👩‍👧‍👦
If you have a large family or are planning to start one, a house with a basement apartment can be a great option. The extra living space can give you and your family members more privacy and independence.

If you are considering buying a home with a basement apartment or the potential to build one, contact us today. We can help you understand the construction and legal process.