Just bought our first rental property and we want to force.....

[Petya Toncheva]

So we just bought our first rental property it is a two family house and we are living in one and renting the second. The house is 2034 ft.², we plan to finish the basement, which will add another 500 ft.² to the house. My question is should we pull a permit And this way we make it livable, legal space that we can add to the full total square footage which will increase the value of the home but also increase our taxes.

Or should we do it without the permit and when we go to rent our our unit or sell the house, we can give a tour of the finished basement and although it won’t be with a permit it will still be livable and usable space.

What are your thoughts

Any tips or advice would be helpful in making this decision.