Featured Post from Retire with Equity

I Was 33 Years Early to the ADU Party

How a Basement Apartment Shaped My Life

Jan 20, 2025

6 min

Sue Pimento

The early 1990s were tough for many Canadians, including my partner and me. The recession of 1990-1991 hit us hard, leaving both of us without jobs and staring at an unemployment rate that had climbed to a record 10.23%. With bills piling up and options dwindling, we had to get creative—and fast. That’s when we found an unexpected lifeline in an unlikely place: my partner’s grandmother’s house.


Grandma, a 90-year-old fireball from Newfoundland, was sharp as a tack and fiercely independent. However, her home was starting to feel too large for her to manage on her own. Meanwhile, we needed a place to live that wouldn’t drain our limited savings. Over cups of tea at her cozy kitchen table, a plan started to take shape: we would build a basement apartment in her house, move in, and exchange affordable rent for assistance around the house. It was a perfect win-win.


I didn't know it, but I was an ADU pioneer


Today, this living arrangement may be recognized as an Accessory Dwelling Unit (ADU), a secondary housing unit on a single-family property. However, in 1991, this concept was far from mainstream. For us, it was simply a matter of survival—a practical solution born from necessity.


We rolled up our sleeves and got to work. With a few friends and determination, we transformed Grandma’s basement into a modest but functional living space. It was basic, even a bit wonky—you had to walk through the bedroom to get to the living room-kitchen combo—but it was ours. We managed most of the construction ourselves, and hired an electrician for the wiring and a plumber to handle the pipes. The rest was pure sweat equity.


Living in that basement was an adjustment, to say the least. Space was tight, and our DIY craftsmanship wasn’t exactly HGTV-worthy. However, it provided us with a fresh start. But as ADU pioneers, we got much more than we could have imagined. A much closer connection to family.


Grandma’s wit and energy were the heart of the house, and we grew closer to her than we ever imagined. Her stories about growing up in Newfoundland in the late 1800s mesmerized me. I would sit there, wide-eyed, as she recounted winters so cold that tea froze before it hit the cup and evenings illuminated by whale oil lamps. We laughed constantly, and she quickly became the grandmother I never had since my grandparents had passed before I was born.


Grandma and I stayed close even after my relationship with my partner ended. I couldn’t imagine life without our Friday lunches, which became a cherished tradition. Every week, I’d visit, and she’d share more stories or critique my cooking attempts with her quick wit and that unmistakable Newfoundland twang. She continued to be a beacon of joy and wisdom in my life.


Grandma thrived on independence, which she held onto with great determination. At 90 years old, she re-tarred her driveway by herself, much to the neighbours' surprise and my immense admiration. The tar application was as wrinkled as her skin, and she couldn't care less. She beamed with pride while I took her picture!


She loved having visitors, and the parish clergy were frequent guests. She always welcomed them with a twinkle in her eye and a sharp sense of humour. Once, when the parish priest asked her if she ever thought about "the hereafter," she shot back, “Oh, I think about it every day when I go into the basement and ask myself, ‘What am I here after?’” That was Grandma: quick-witted, strong, and full of life.


Our basement apartment was more than just a place to live; it was a lifeline.


The benefits extended beyond us. Grandma stayed in the home she loved until she passed away peacefully at 96 years old, sitting at her kitchen table on my birthday. It was a poignant moment that reminded me how much she had shaped my life.


The modest basement apartment not only sheltered us but also added value to her home. We inadvertently enhanced the property’s functionality and appeal by converting unused space into livable quarters.


This represents a key advantage of ADUs in today’s economy. Given the housing shortages and rising costs, ADUs provide a practical solution by offering affordable rental options, increasing property values, and creating opportunities for intergenerational living.


In recent years, governments have acknowledged the importance of ADUs, making it easier and more affordable for families to construct them. Changes to mortgage lending policies have been introduced to promote ADU construction. For instance, insured loans now cover up to $1.5 million, and the amortization period has been extended to 30 years, enhancing financing accessibility. Furthermore, the federal government has announced new refinancing options to allow up to 90% of the property’s value. At the same time, low-interest loans for ADU construction have doubled to $80,000, with repayment terms of 15 years. These welcome changes will lower financial barriers and assist homeowners in creating secondary housing units, addressing both affordability and housing shortages.


This intergenerational arrangement we set up over three decades ago was a win-win in every way. It provided mutual support, strengthened family bonds, and created a housing solution that benefited both generations. Seniors can age in place with dignity and companionship while younger generations gain access to affordable housing and the chance to learn from their elders. The laughter, shared meals, and stories crafted memories that will last a lifetime.


Moreover, ADUs can help ease housing shortages and increase the availability of affordable rentals. They represent a practical, cost-effective method to utilize existing properties better. For families, they offer flexibility—a space for aging parents, adult children, or even potential rental income. For communities, they supply essential housing stock without necessitating large-scale development. For a deeper dive into ADUs, here's a link to a post we shared last year https://expertfile.com/spotlight/10346/additional-dwelling-units--adus-


What's Old is New Again


It's often said that many things come back in style if you wait long enough. This may hold for ADUs, simply an old concept whose time has come again. Nonetheless, ADUs empower our younger generation to afford housing and achieve homeownership. They also provide vital support for our older generations, enabling them to age in place while generating much-needed income for a dignified retirement.


Reflecting on the past, I often ponder who saved whom. Grandma’s indomitable spirit and sharp humour made every bump in the road worthwhile. She would tease me about the crooked shelves we installed and joke that our kitchen was so small we could stir the soup without getting off the couch. In truth, she gave me more than I ever gave her. Her strength, love, and unwavering sense of humour helped me navigate one of the most challenging times in my life.


The quirky basement we built in 1991 may not have been perfect, but it served its purpose. Today, as ADUs gain popularity, they represent more than just housing; they embody connection, resilience, and finding creative solutions to life’s challenges. Whether it’s a basement apartment, a backyard cottage, or a garage conversion, ADUs can foster connection and help families thrive—just as we did all those years ago.


And as for Grandma? She demonstrated that a touch of humour, plenty of love, and the occasional jab at a priest could keep anyone young at heart. Every time I think of her now, I can’t help but smile and wonder if, somewhere, she’s still re-tarring driveways and asking herself, ‘What am I here after?’


Don’t Retire … Re-Wire!


Sue




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Sue Pimento

Sue Pimento

Founder | CEO

Focused on financial literacy and retirement strategies. Authoring new book on home equity strategies to help seniors find financial freedom

Pension ReformInterest RatesHome EquityMortgagesReverse Mortgages

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9 min

The Retirement Games

Have you ever dreamed of being an Olympic athlete? Perhaps you have wondered what it would feel like to stand on that podium in front of the world as your national anthem plays. For most Olympic athletes, the journey begins very early in life. But imagine what it would be like if you started training for this event in your 60s? Read on if you want an edge to discover how to win the Retirement Games and still pass the drug test (let’s face it, peeing is not an issue for many at that age)! Here is your chance to get on the podium at the most crucial game of your life. On Your Marks, Get Set, Ready, Go! Retirement was more like a coffee break five decades ago—brief, predictable, and over before your muffin cooled. In 1975, the average Canadian could expect to live about 73.53 years. Fast forward to 2025; we're clocking in at nearly 83.26 years. Even juicier? 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Attitude Training: Stop Acting Your Age Here’s a radical thought: Maybe we feel old because we act old. Want to stay young? Stay curious, try new things. Try line dancing, pickleball, bird watching, improv, or learning to code. Yes, code. What was the worst advice our mothers gave us? “Act your age.” Nonsense! Whoever said, “You’re only as old as you feel” was on to something – but let’s take it up a notch: How about you’re only as old as your playlist! The Power of a Youthful Attitude in Retirement A successful retirement isn’t just about savings accounts and spreadsheets — it’s about mindset. A positive, youthful attitude is one of the most powerful (and overlooked) assets you can carry into retirement. Even if you don’t feel youthful or optimistic, “fake it ‘til you make it” is more than just a catchy phrase—it’s a strategy. The goal isn't to accurately describe your aches, fears, or fatigue but to set yourself up for success! Science backs it up: a positive outlook boosts health, sharpens cognition, and increases longevity. From a practical perspective, optimism makes it easier to try new things, adapt to change, and enjoy the present—all essential in retirement. So, if the voice in your head says, “I’m too old for that,” try responding with, “This is my time.” You begin to build because what you tell yourself matters, as does what you believe. Retirement is your reward. Approach it like the vibrant, capable, unstoppable human you are because attitude, not age, sets the tone. Gold Medal Tip: You’re only as old as the last thing you tried for the first time. Try something ridiculous, I double dare you! Final Stretch The Retirement Games are here, and let me be crystal clear: this isn’t amateur hour. This is your Olympic moment, with medals awarded for stamina, strategy, and a solid sense of humour. Whether you're rounding the first turn at 45 or doing your victory lap at 75, now is the time to train. You’ve built strength, stretched your budget, flexed your purpose muscle, assembled your dream team, and rebooted your mindset. Now it’s time to lace up, lean in, and live life to the fullest. This isn’t about perfection; it’s about preparation. You won’t achieve a podium finish through wishful thinking; you’ll attain it through action, adaptation, and a great deal of repetition. So, put on your metaphorical tracksuit (or actual tracksuit if it's laundry day) and begin training with determination. The gold medal retirement isn’t just possible—it’s within reach. Cue the confetti cannon. You’re not just aging—you’re advancing. And champions, as we know, don’t retire… they rewire, recharge, and rewrite the playbook. On Your Marks, Get Set, THRIVE! Don’t Retire … Re-Wire! Sue

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