Instead of buying a home in Toronto we helped renovate my 91 year old grandmothe…

Instead of buying a home in Toronto we helped renovate my 91 year old grandmothers basement into a fully self contained 2 bedroom apartment. We’re still in the city but only paying $700/ month. Here’s the master with hand me down solid wood furniture.

View Source by Donaldtrumphentai

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33 Comments

  1. Excellent Frugal tip: Live with someone who already owns a home.

  2. Comrade_Snarky8 says:

    Buy and run a dehumidifier while you are at work.

  3. Way to Froog! And, hopefully, you have the joy of fun time with your vintage grandma.

  4. Donaldtrumphentai says:

    The property tax alone in the area is about $8500/year. We’re we’re able to renovate for a reasonable $22000 and now pay less than the taxes would be on a new home.

  5. karmagirl314 says:

    That furniture set is dope, especially the nightstand.

  6. Frugal mixed with some sad. Millennials cannot afford houses.

  7. In like that it’s pretty bright for a basement!

    Well done. I’m sure grams is happy too with the arrangement as well.

  8. vesleengen says:

    Think of fire safety. Windows in basements are high up, small and almost always stuck, and if you manage to get it open and try to climb through then you can bet your ass something is in the way on the outside.

  9. quentinislive says:

    Truly frugal and beneficial for both parties!

  10. sonia72quebec says:

    So you paid for the renovation and now are paying only 700$ a month for the rent.

    Is this a legal apartment? Because if so Grandma’s property taxes are gonna increased. What would happen if Grandma dies or has to sell her house? Do you get back your 22K or is it lost? Do you have a lease?

  11. I worry for your toes, but looks good!

  12. cityhallrebel says:

    What is the plan when grandmother dies? Is the home in a trust? Are you responsible for her care while you are there?

  13. anotherjustnope says:

    Is it $22,000? Not $2,200? That’s a lot of upfront cost on something you don’t own.

  14. insightful_dreams says:

    damn , i need a 91 year old grandma with a basement.

    this would be illegal where i live anyway.

  15. MillinAround says:

    Grammys are the best

  16. SWGardener says:

    The furniture is the bomb. Good for both you and granny.

  17. luuuuxstar says:

    I have never seen such a bright basement!! Looks nice

  18. Would love to see more photos!

  19. I need more pictures!

  20. Mostenbockers says:

    I want to see more pictures of the apartment! The bedroom looks great.

  21. EggplantIll4927 says:

    What happens when gamgam passes?

  22. blackjesus75 says:

    Actually just bought my grandmas house. Only way I could find one for sale lol.

    Congrats

  23. RuffusTheDuffus says:

    Are you taking advantage of your grandma though? Sounds like she could get more for her place

  24. But how is paying rent (to your grandmother I’m assuming but still) more frugal than investing it in a home and building equity?

    Edit: to all the folks trying to explain how housing costs and the housing market works.. I own a home in the Bay Area and work in finance.. None of this is news to me.

  25. augustrem says:

    This is not making a lot of financial sense to me. Unless the point is to help your grandmother, which of course is awesome.

    You invested 22K in your grandmother’s home, and continue to pay $700 a month? And you won’t be able to recoup any of that investment because the home isn’t yours?

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  27. PutinBoomedMe says:

    Toronto pricing is some of the worst

  28. IhateRush says:

    Will you then inherit and rent it out?

  29. I’m just trying to understand, where does the $700 figure come from?

  30. Allysgrandma says:

    How wonderful! Perhaps grandma gets to stay longer in her own home since you will be there through the night at least! Great idea!

  31. Doktor_Dysphoria says:

    Make sure to get that shit checked for radon, it’s the leading cause of lung cancer in non-smokers.

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