Have you ever thought of turning your basement into a second suite? If not, then it is time for you to do a little soul searching. You don’t have to do it alone, though, as professional basement renovator Guy Solomon has a lot of insight as to why this can be your next great investment. Read all about it here:
It Can Provide Passive Income
If you want to know the biggest advantage of getting this renovation, then talk to Guy Solomon about second suites – as a renovation company owner, he can give you all the insight. As he explains it, this kind of feature functions as a separate living space like an annex or an apartment.
As a result, you can rent this space out on a short-term or long-term basis. In doing so, you will receive a paycheck every month for doing nothing! This is a wonderful way to bring in some additional money to the household, particularly if you only have one person working. And, as rents keep getting higher, this will continue to be a great investment.
It Can House a Growing Family
Another reason that you should speak to Guy Solomon about second suites is if you are considering on growing your family. Like most homeowners, you probably moved into a home that was just right for you at the time. However, if you have had one or more children since then, your home may feel like it is getting a little crowded.
It could also be a great investment if some of your kids are getting older. As this happens, they may not want to share a room with their sibling and want a space of their own. And, if your college age child is still living at home (which is becoming more and more common) then they need a distinct and separate space.
It is a Future Investment for an Aging Family
Either your in-laws may be getting older or it could be you and your partner. In any case, you or your in-laws are going to need a place to stay. As rents keep rising, a lot of retired individuals can’t afford their own spaces. However, with a second suite in your home, this isn’t something that you need to worry about.
As these spaces can be built so that they are fully equipped and have a separate entrance, you don’t have to worry about getting in each other’s way. Everyone can have their own space and privacy and maintain the peace.
It is a Multi-Purpose Space
Just ask Guy Solomon about second suites and he will tell you that these can be used in so many different ways. This includes a guest room, an office, and entertainment space, and so much more. It could even become a private space for mums, dads, or kids who need a bit of time away from the family.
As you can see, second suites have a lot of different advantages for you. Due to this, it is something that you may want to consider including in your own home.