Benefits of homes with in-law apartments include more room for extended family, extra income and value addition. In-law apartments typically have their own entrances, living spaces, bathrooms and kitchens.Continue Reading
An in-law apartment can offer peace of mind, privacy and more room for visiting or live-in extended family. In-law apartments are commonly used as living spaces for ageing parents, especially those coping with health issues.
The apartment is also a possible source of extra income for homeowners to help pay off an existing mortgage. People who cannot afford more expensive housing are drawn to in-law apartments, especially in those in good neighborhoods.
An in-law apartment can significantly increase the value of a home if built well. A recent study reveals that such an addition can increase the home’s value by up to 60 percent. There is also high demand for properties with in-law units.
There are different types of in-law apartments including those built over garages, basement suites, detached houses or those attached to single-family homes. Homeowners are required to obey building codes and acquire proper permits before building in-law suites. Some community zoning ordinances do not allow for in-law units while some place restrictions on who can live in them. Where in-law units are allowed, homeowners may be eligible for home improvement loans to finance remodeling or construction.Learn more about Real Estate