How to build a profitable basement apartment

Undergoing a basement renovation is a common household renovation project that Canadians undergo. Creating a basement apartment is a great addition for households with multiple families or for people who are looking to make a couple extra bucks a month. eieihome.com sat down with the owner  On Centre Design Build, Andrew Bridi. We spoke with him about his best tips and tricks for his customers that are interested in creating a basement apartment.

For nearly two decades, On Centre Design Build has provided its clients with exceptional project management, innovative design, and top-quality craftsmanship.

Take Your Time

When beginning your basement renovation, it’s important that you don’t hurry the process. From the design to the construction, for the project to be successful and as beautiful as you dream, it’s important to take your time. Bridi says, “Do not rush the planning process. I meet with my clients, get their input and measure the basement.  I then produce design drawings for the client’s approval. Once they have signed off on a design, I price the project per the approved design.  This process may take a couple of weeks but time spent planning the project will make it run smoothly and efficiently.”

Legality

Before you start doing anything permanent, go through the legalities of your plans to make sure they are following the laws set out by your city. Bridi says, “When adding a basement apartment, it’s important that you follow the city requirements for creating a proper fire separation, as well as making sure there is a secondary egress from the basement.”

When you work with On Centre Design Build, they will work with their clients to make sure that everything is laid out to code. “[We] will ensure that the client is aware of all requirements, including permits and inspections [before we begin the renovation],” says Bridi.

Price Range

Hemming and hawing over price and budget can be obvious stress indicators. Do your research and balance your books to see how much you can put towards your renovation. We asked Bridi what he proposes an On Centre Design may cost. From the simplest project to the most extravagant, he believes that a standard budget for a basement apartment can start at approximately $60.00/sq.ft. “Many factors affect this price, such as size of the basement, quality of the materials [a client chooses] and the condition of the basement prior to construction,” says Bridi.

He states, “Have a budget in mind. Giving your contractor a budget will help him/her design a basement that is affordable and in your [price range]. For me, a budget tells me what flooring I can include, what tiles I can use and what cabinets I can choose. It helps me design and price a basement within my clients spending comfort zone.”

On Centre Design Build has created one-of-a-kind masterpieces in people’s homes and made their dreams come true. Take a look at some of their work by visiting //www.oncentre.ca

 

 



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