- March 7, 2022
- Residential
“Why should I go the legal way when the illegal ones are cheaper?” is a question that you may have asked yourself at least once while planning to build a basement for your home. Or “Why should I go through the trouble of constructing a legal basement apartment on my own property?”
If these are the types of questions you have, we can assure you that they will be gone by the end of this blog.
A legal basement procedure can be roughly divided into three stages: brainstorming and finalizing the legal basement requirements, preparing the legal basement drawings, and finally constructing the actual legal basement apartment. The legal basement drawings part is the most important of all. This means that your property has been thoroughly inspected to guarantee that the legal basement apartment you’re attempting to construct is in conformity with the bylaws of the local governing authorities. Here are some of the main advantages of meeting your legal basement requirements the legal way!
Benefits Of a Legal Basement
Safety:
Basements are below-grade constructions that are erected beneath the ground and have the complete house built on top of them. Assume you have a tenant in your basement and a section of your house breaks down due to a structural mismatch. This is not the type of risk you should take with yourself, your tenants, or your family to save a few dollars.
There is a good reason why there are bylaws in place that must be respected. These standards and regulations ensure that your property can hold your legal basement apartment. It means that you can avoid any type of accident that may occur as a result of a structure’s neglect or mismatch.
No Legal Issues:
A legal basement apartment comes with peace of mind! Anything illegal can always come back to harm you, whether now or later. You may always find yourself attempting to conceal the fact that your basement is illegal. Because the entire property is reviewed while rebuilding or redesigning a house, this may also have an impact on your future home renovation plans. The involved authorities would very certainly request the documentation and legal basement drawings, which might land you in hot water. In the worst-case scenario, you may face legal action if any of your renters are injured while living in your basement apartment.
Ease in finding tenants:
When opposed to an illegal basement, a legal basement draws not only better tenants but also larger rental payments. That’s because tenants feel a lot more secure knowing that their legal basement apartment complies with bylaws and has been approved by local officials. Tenants, on the other hand, may wish to pay a lower rent by exploiting the fact that the basement is unlawful.
Increase in property value:
Aside from providing a constant source of passive income through tenants, a basement can significantly increase the overall value of your property. Houses with legal basement apartments may also charge tenants a premium. As a result, it is critical that it abide by the laws. Legal basement requirements may cost you a little money at first, but they will save you money in the long term.
House Insurance:
A property with insurance is necessary if you want to avoid large losses in the future. A basement that is built with legal basement drawings in place and meets all legal basement requirements is a property that may be insured in accordance with the laws and regulations. This is a perk that an illegal basement apartment cannot enjoy due to the stringent verification process that the property must go through. If your basement is legal, any basement damage claims can likewise be pursued legally.
You must have realised the value of having a legal basement by now. Leaving the legalities aside, there are legitimate reasons why you should construct a basement, like increased privacy, storage space, property appreciation, and much more!
Get your legal basement drawings prepared in accordance with the regulations to make your legal basement requirement more refined than any knock offs that don’t take client experiences into account and just want the work done. Get in touch with us to gain a better understanding of the laws and process related to building a basement, the legal way. Reach out to us on 2267477966 or email us at [email protected]. Alternatively, you can also fill the form here: https://rnhdesigns.ca/contact-us/