What To Consider Before Turning Your Basement Into A Studio Apartment
If you have extra basement space in your home that you aren't using to its full potential, consider converting your space into an additional apartment. There are a few things to research beforehand to make sure that you understand everything that would go into this type of renovation. Here are three basic things that would need to be considered before getting started on a basement studio remodel.
1. Make Sure the Space is up to Code and Correct Permits are in Order
It is well worth it to check in with your city and county to make sure that expanding a basement into an apartment is a viable option. The hope is an additional unit will add value to your home. Check to see if the space can be officially turned into a separate living area. If so this can be listed with the property information for your home. Checking out zoning and building codes in your area before you even get started on a remodel to make sure your renovation will be approved.
2. Meet with a Contractor to Make sure that You Understand the Costs
Have a professional look at your space and decide if it is financially feasible to turn a basement into a working apartment. If the basement is unfinished with limited electric hookups and no plumbing installed, a remodel might not be worth the effort or the cost. If your basement is already functioning as a livable space with a bathroom or small kitchen area, converting into a functional studio apartment might be simpler than you thought. Have a contractor go over estimated costs so that you know what you are getting into.
3. Consider Who will be Using the Space
Think about if you will be officially renting out your studio, or have it primarily used by family and friends. If you are building a studio for a child recently home from college or a parent, items such as shared entrances and energy usage aren't really an issue. If you plan on renting out to the public, make sure to account for a separate entrance and additional wiring to separate the basement from your home.
Remodeling your basement can be a great use of your existing space and add value to your home. Before you get going on renovations, make sure to do your homework. Understand all of the needs and costs that can go into an extensive remodel to make sure this is the best option for your home. Talk to a professional like Property Service Agency LLC for an estimate.