How Warm, Welcoming Basement Renovations Offer Extra Income for Homeowners

In times of economic uncertainty, people are always on the lookout for extra ways to make or save money – and for many, their most profitable asset is the very thing that protects them the most: their home. Renovations are one of the main ways of increasing and maximising the value of a home, and for Canadians basement renovations are the second most popular home fix. They offer a useful extra living space without physically having to extend the house, and with the added bonus of a fireplace renovation they can become a really cosy hibernation spot during cold winters.

The options open to basement renovators are many, and can also include a gym, office space or even a games room. But with extra touches like a warm, welcoming fireplace renovation, homeowners can really fulfil the investment potential of their basement – with the greater energy efficiency offered by a warm basement attracting financial assistance and tax credits from the government.

How Basement Renovations Can Boost Income

Among the top trends for basement renovators are expanding living space, creating a personal hideaway, and producing a guest suite. There are few things that would complement these renovations more than the welcome sight of a fireplace renovation, especially as the warmth generated would naturally pass upwards through the rest of the house and be enjoyed by the wider household.

Creating a guest suite or even a basement apartment can be a very profitable move. This practice has been described by some as the number one way to secure return on investment in a property, potentially offering a regular cash flow. Basement renovations have also been listed as number one in the top five most enjoyable renovations, meaning homeowners can also explore this option for personal use.

There are numerous steps to take before ensuring the basement renovation works as a safe, legal extra source of income. It needs to conform with local zoning bylaws and, in particular importance for fireplace renovations, the basement must be registered as a second unit in order for it to be legal and compliant with fire regulations. Different provinces have their own fire codes, such as the one for Ontario, and any building permit will confirm compliance with these.

Fireplace renovations offer a warm and safe basement space

“Basement renovations have their own unique requirements and aspects that need extra attention, due to being underground,” says a spokesperson for Basement Now, an expert basement renovation company that also carries out fireplace renovations.

“All work we carry out adheres to the strictest levels of safety and checks. With issues such as damp and threats to the structure of a house, our multispecialty team carries out robust preparations to ensure homeowners have a comfortable basement renovation that they can also be safe in. When we carry out a fireplace renovation, we advise on the best location for the fireplace and also ensure there is suitable air flow to the outside, which is vitally important to any fireplace renovation in a basement.”

About Basement Now

Basement Now is based in Concord, Ontario, and specializes in transforming basements into a wide range of alternative uses, including bathrooms, kitchens, home theatres, home offices and saunas. They offer services across Ontario, in Toronto, Vaughan, Oakville, Markham, Thornhill, Mississauga and Richmond Hill.  

Media Contact
Company Name: Basement Now
Contact Person: Media Relations
Email: Send Email
Phone: 844-706-1575
Address:60 Pippin Rd #34 Concord
City: Toronto
State: Ontario L4K 4M8
Country: Canada