With the current housing market boom making headlines, several factors have contributed to the surge in both the re-sale and new home industries. Low interest rates, rising building material costs, supply chain and labor shortages, among others, have created a challenging landscape for first-time homebuyers and homeowners looking to make a move.
However, many individuals are finding innovative ways to make home ownership work for them.
The Suite Life: Basements in new build homes hold untapped potential. This allows homeowners to rent out their basement as a separate unit and offset mortgage expenses with rental income. Moreover, depending on the rental income, customers may even qualify for additional mortgage funds.
Our basement suites are designed to be spacious and comfortable, featuring large windows, 9-foot ceilings, kitchen appliances, and one- or two-bedroom options. Additionally, a side entrance to the basement provides privacy and separation from the rest of the house.
Embracing such creative solutions can empower potential homeowners to find a path into the market and make home ownership a reality, even amidst the current challenges posed by the housing market.