Luxury Basement Suites: Active Seniors Invest In Their Child's Future
After working for thirty or forty years, many Canadians look forward to their retirement years. But for many, retirement means downsizing. Large homes are difficult and expensive to maintain, so many seniors opt for smaller, more manageable surroundings.
However, moving to an apartment or condominium poses its own challenges. Stairs, elevators and noisy neighbours can be difficult. High maintenance fees and taxes also eat into pensions and savings. In many cases, condos and apartment buildings are not worth the hassle.
There is another option to the apartment building or condo; why not move in with the kids by building a luxurious, basement apartment?
"Seniors don't want to give up the kind of luxury and lifestyle that their own home provides," says home renovation expert Sam Beninato , President of RENOCanada. "A high-end basement suite is like moving into a smaller version of your old home."
RENOCanada has been helping Canadians build luxurious bathrooms and kitchens for several years. Since its inception, RENOCanada has become a leader, innovator and ideal lifestyle provider in the bath and kitchen business.
Now, Beninato and his team are working with families, helping them create high-end basement suites that complement and enhance their active lifestyles.
Beninato suggests basement renovations are the ideal projects for people interested in making room for relatives. Basements provide space, privacy and security all at the same time. They work well for older parents, siblings or even newly married couples saving for their first home.
"A renovated basement is a great way to give an elderly parent or married couple a sense of independence," says Beninato. "They can go about their daily business on their own, yet are still within reach in case of illness or other problems."
Money-wise, building a high-end basement suite in your child's home is a good investment. You can create a space of luxury and refinement with all the amenities that you're used to in your old home. Imagine a modern kitchenette with the latest appliances. How about a cozy fireplace and heated floors to warm you up in the winter? What about a luxurious bathroom spa to relax in and unwind? Or a home entertainment centre with a high definition television?
You can even combine a separate room for the family into the design.
All of these are possibilities in a price range of about 60 or 70 thousand dollars. Compare that with the several thousand dollar cost of buying a condominium and you will be saving money in the long run.
Best of all, you will be adding value to your son or daughter's home.
"The great thing about investing in your child's home is that they'll inherit the property anyway," says Beninato. "Or even better, it improves the equity they have already built in their own home."
RENOCanada can help you build the basement suite of your dreams. Their team of home design experts are with you every step of the way, from planning and design to construction and completion. As Beninato likes to say, RENOCanada takes you from inspiration to installation.
They say the older we get, the wiser we get. It's an old saying, but it's true. So why not move closer to the kids and provide them with wisdom and security at the same time?
"Building a luxurious basement suite is not only a great way to stay close to the kids," says Beninato. "It's also a great investment in your children's future."
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