5 Benefits of Creating a Basement Suite

Some homeowners consider the possibility of renovating their basement and have it rented; however, there are reasons that hold them back from the idea. For rent basements, also known as secondary suites, are defined as a separate dwelling place inside a single detached home. A lot of these secondary suites are basement suites. But did you know that having a basement suite can provide you a range of benefits?


Below are five advantages of having a basement suite:

Additional Income

One of the main benefits a homeowner gets from a basement suite for rent is the extra steady income they get from renters. The extra income could go to savings, bills payment or other home expenses. The income could also be used for expenses in maintenance.

Tax Benefits

Owning a rental property such as a basement suite entitles the homeowner to a number of tax breaks, which is helpful when it comes to filing the tax. This can be considered as the second most advantage of having a basement suite for rent.


The government provides owners of rental properties with privileged tax breaks like depreciation, which owners to utilize paper losses to balance any profit they make on the rental. Losses that come from depreciation can also be utilized to balance other taxable income an owner might have.

Property Appreciation


The value of a house increases once it is extended, like creating a basement. According to a number of real estate agents, creating a basement provides the best per square foot value on any renovation works. Prospect buyers will normally appreciate the value of houses with basement apartments, which in turn raise their value compared to houses without basements that are on the market.


Flexibility for Family

A lot of homeowners truly value having a basement apartment since they also allow the flexibility for accommodating other family members or even friends. Parents can lease their basement to their children, whether if they are single or married. In the same way, children can also rent their basement apartment to their in-laws. Also, a basement apartment is useful if family or friends are in town.


Security


Another great benefit for homeowners of having a basement apartment rented is the increased security level. Since there will be more people living on the property aside from the owner’s family, the chances of being somebody in the premise to watch out for burglars or trespassers will increase. And, if the homeowner decides to go out of town for a vacation, they can always ask the tenants to look after the house.

If you are looking for a basement suites contractor in Victoria BC, contact LIDA Homes.

Prevent Spring Flooding

Trees showing their new buds and the odd flower poking it’s head through the ground are welcome signs that Spring has finally arrived.  Those April showers that come along with Spring are not so welcome and a lot for your yard to handle what with the ground thawing at the same time. Improperly graded yards really create a problem as water puddles and all this moisture has nowhere to go. The soggy conditions spell disaster for lawns and plants when saturated roots lose oxygen and plants suffocate.  To remedy water pooling in your yard regrading is recommended at least 1 inch for every 5 ft of turf. If this does not fix the problem you may need to install a perimeter drainage system.

Not only is your yard and all your hard work threatened, but the next place that runoff water will go  is the cellar or basement of your home. And that water seeping  through any existing cracks or leaks in your foundation will cause even more damage. The damage to floorboards rusting appliances and soggy carpets and drywall that are a breeding ground for mould and mildew. Here’s the good news this type of damage can be prevented altogether by making some changes.

Gutters and downpipes are your first line of defense in preventing water from causing damage to your home. Of course keeping gutters clear of debris and in good repair is just common sense. To carry water away a sloped leader should be attached to each gutter and guide water at least 10 ft away from the foundation. If these measures are not enough to keep water away from your foundation there are  other ways such as installing a drywell which requires professional installation.

In regions of the country such as Calgary,  Spring rain, melting snow and the ground thawing can result in water damage to your home and belongings. Despite your best efforts you can wind up with unseen water or mold infesting your home. At Calgary Water & Flood we’re here to help with our home restoration services and get your home safe, dry and comfortable again.