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Are you thinking of getting a house within a house? These may not be your traditional single-family homes, but when you have the ability to offer a guest room or an entire live-in suite, you get flexibilities not afforded to very many people.
There are several advantages to a living situation like this. Many of them go unnoticed by the public simply because they don’t know about them. You’re about to be introduced to the top seven reasons that houses with live-in suites are the best.
Whether it’s a basement apartment or in addition to the house, these situations put you in a prime position to collect extra income in the form of rent from tenants who live there. You can host your family, friends or even a foreign exchange student. Getting one of these live-in suites may require an initial investment. However, the maintenance effort required to maintain your unit is a most nonexistent where you collect an income every month.
Hands down, add-in suites are one of the best ways to add additional square footage to your home. Have you ever noticed that every single home listing comes with a square footage statistic? The whole idea is that homes with a higher square footage yield a higher value. Chances are really good that if you can see the advantages of having au pair suite in your home, so can a potential buyer. This type of living arrangement will easily set your home apart amongst the sea of homes that are for sale.
Unless you’re an entrepreneur or in the payroll department, you’re probably not all that familiar with all the different tax write-offs available to you. You might be able to depreciate a portion of your home on your taxes simply by having a live-in situation built-in. Your accountant, CPA or tax specialist will have all the information you need to make sure you can take advantage of the extra square footage in your home come next tax season.
Do you really want to get me started on how flexible a home like this is? Well, here goes. If you like, you can always use your home as an excellent go-to place for your family during the holidays. If friends are ever in town, you can provide a place for them to crash but not making them go to a hotel. If you have a lot of children but are in empty nester, this can provide a place for your children to stay without having the feeling that they’re imposing on you. The situation can work the other way around – children can have their parents over without making them sleep on the couch.
The higher level of implied security is phenomenal. When you have more people living in your home, there’s a greater chance of someone will be home at all hours. This can deter burglaries, break-ins or vandalism. On top of that, you won’t need to worry about who’s going to take care of your house while you’re out of town! You’ll have someone to get the mail, water your plants, feed the dog and more.
As people age well into their retirement years, they look toward their children or managed senior communities for care. If you are equipped to have your parents live with you, they don’t have to look at nursing homes. This saves both you and your parents a ton of money. These situations can provide easier living situations because you can help them get groceries, prescriptions or other needed items by including them into your regular shopping trips.
A typical mother-in-law suite includes everything that you might expect in a small apartment – you get the bathroom, bedroom and kitchen areas. An older generation may enjoy the sense of independence while enjoying the security of knowing that if anything happens, you’re not too far away. These type of living situations allow your parents to maintain not just their own independence, but their own sense of privacy. They can set their own schedules and still act and behave as if they were entirely independent. You get the peace of mind knowing that your parents are taken care of. It isn’t just an older generation. It’s your people – your family.
Look at it this way. Many homeowners only think of themselves when they buy a home. That’s not a bad thing, but it doesn’t leave flexibility for future situations and developments. If you have a teen, he or she may eventually want friends over – especially during the college years. Wouldn’t it be nice to offer them a bed rather than a couch?
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Fabulous Brasheer & Edgemoore Home * Many Upgrades & Updates * Refinished HDWD Flooring Throughout Main LVL * Awesome Kitchen, Upgrade Cabinets, Granite Counters & Huge C...
The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than Real Estate Company. are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. All listing information copyright MRIS 2017. Last updated: