Level Up Group
Walkout Basements
Do you live in the Toronto or Calgary area and own a split-level house? You have the great advantage of enjoying extra income from a walkout basement! In fact, the potential of a walkout basement is held in high regard, and it is easy to see why!
A walkout basement opens a lot of possibilities, as it simply adds an entire floor of usable space to your house. Moreover, it adds great value to your property, raising its price. So if you are considering investing in a walkout basement, now is the perfect time.
In your walkout basement you can create:
- Independent apartment for extra income, or your family members
- Space for home-based business: daycare, hairdressers, beauticians or nail salon
- A yoga studio, or in-home gym
- Cozy family room
- Great play space for your kids
- Great party room with direct access to backyard
Indeed, it can accommodate any ideas for a lot of extra space!
Getting the maximum potential of your walkout basement
When you are planning to finish or renovate this fabulous extra space, you have to have your family needs and lifestyle in mind. The longer you’ve lived in the house – the faster you will be able to formulate the concept for the space.
To start working on planning your basement renovation, focus on the following questions:
- What areas and rooms are missing in your house?
- Do you work from home a lot?
- Do you need extra income from an in-law apartment?
- Would you prefer your kids play and sports area in one place, rather than deal with all the toys all over the house?
- Do you entertain often?
- What hobbies do you have?
- Do you want to splurge on an expanded entertainment area complete with home theater, bar, and pool table?
Creating a multi-functional space in your walkout basement
Just as we play so many roles in our lives: as parents, business people, and sports enthusiasts, the spaces we use also have to multitask and play many roles. Too often, when we come to our clients to discuss their ideal new walkout basement space, they get focused on just one idea, while in fact, the concepts can be easily combined!
Modern concepts with furniture and accessories help to complete the picture of your new multifunctional space. Just add a murphy bed or pullout couch to your office space – and it becomes a welcoming guest bedroom! Add extra storage on the wall, and your perfect yoga room transforms into a crafts room!
We help GTA & CMR homeowners to transform the space it to the full potential. Feel free to obtain a quote today!
Basement Walkout FAQs
Renting your basement provides you with a stable passive income. Basement apartments are highly popular among tenants since they cost less but offer all commodities of a ground-level home. If you are willing to open your doors for a tenant, you can earn a minimum of $1,300 per month, depending on the location and amenities you offer. You can use this money to pay off your home renovation, mortgage, or achieve your personal goals.
For a basement apartment to be legal in Ontario, it needs to meet the building code requirements. Firstly, your building needs to be more than five years old and meet the zoning codes specific to your area. The basement apartment needs to have a minimum of 145 square feet and a ceiling height of 1.95 meters. The space should have laundry, kitchen, sink, heating, and cooling. The apartment needs to meet the Fire Code, specific for your municipality, so be sure to check with the authorities for accurate information.
Yes, walkout basements are safe because the proper framing will carry the weight of the floors. The building will undergo rigorous checks by engineers to ensure it is entirely secure.
You don’t need egress windows for a walkout basement. The door that leads outside meets the size requirements for an egress window. However, you will need egress windows if you have separate rooms. The building code requires escape windows in the other rooms, except for the one with the walkout door.
A lookout basement isn’t completely underground, meaning that only half of the space is below ground level. The ceiling height is the same as the main living area in this basement. The windows are at chest height, providing plenty of sunlight.
A walkout basement has a door that exits outside. Having a separate entry provides privacy, which is beneficial for business purposes or renting. The basement has a wall with windows and a door that exits at ground level, offering plenty of sunlight. The natural light will make the space seem less like a basement and feel more like part of your living space.
A permit is required to confirm that your walkout basement meets the Ontario Building Code requirements. If you fail to obtain a permit, you risk paying a fine or removing the renovation. You can apply for a permit online or let your contractor guide you through the process.
The average price range for a walkout basement in Canada is $15,000 to $50,000. The exact price depends on the materials, project scope, and finishes. A walkout basement is the costliest option among the other alternatives. However, the extra living space will increase your home’s value on the real estate market.
Building a separate entrance for your basement will cost $2,500 to $10,000. The total cost depends on the amount of work needed for the foundation and patio. The costs will be higher if the ceiling is too low since you need to lower the floor.
A walkout basement will increase your home’s value since it is a highly appreciated feature. Expect to recoup 79% of the cost when you sell the house. The extra liveable space and private entry will give your home an advantage in the real estate market. A walkout basement is a better option than a traditional one, especially where customers seek extra living space.
