The Value in Underpinning a Basement – Episode #201

This video is to show our viewers how they can add value to their basements.

By underpinning a basement, you are increasing the ceiling height by at least 1-2 feet.  In Toronto, especially the older areas, basements were not originally made as living space and therefore they were low, damp, and felt really creepy.

For your average house in the East York, Danforth, and Beaches area it can cost approximately 25k-30k to underpin a basement.  And this means you are creating another floor of great living space.  This will definitely add value to your property and for you investors out there it will definitely increase the rental value of your basement apartment.

Check out these videos that show examples of basements and how much value was created by underpinning and adding quality finishes:

East York Modern Duplex Conversion After Renovations – Episode #200

East York Bungalow The Final Reveal – Episode #188

 

$55,000 Basement Renovation Brings $1,200 of Monthly Income In Leslieville – Episode #159

There are 3 important factors to consider when you want to achieve a solid cash flowing property:

1. LOCATION, LOCATION, LOCATION
I know you have heard this before, but I cannot stress it enough. Location is key to long term growth and it also plays a big role in the next factor;

2. TENANT PROFILE
If you want to attract quality tenant profiles, then you need to invest in the right location.

3. REAL ESTATE TEAM
Having a great team on your side to help you find the right property, to help you find the right tenants, and help you renovate and build the suites will take you a long way.

All 3 of these factors can help provide you with a solid cash flowing property. By investing in the right location and creating a quality home, you will be creating a premium property that tenants and buyers will be willing to pay a premium for.

In this video, we interview contractor Peter Glaw from Premier Renovations. Peter has renovated this entire basement apartment and walks us through it explaining what he did and why this basement apartment demands $1200 per month in Leslieville Toronto.

If you wish to contact Peter you can reach him at 905-286-0303 or at www.premier-renovations.com