Should I Add That Mother-In-Law Guest Home Or Guest Attachment?
Without a doubt, it will add value to your home when you go to resell if you have a mother-in-law guest home or attachment added to your home as long as it is legal. You’ll just have to be sure it’s within the city codes and has permits so be sure to take the plans to the city or to an appraiser before you start building. Hint: It’s always best if you buy a home with the legal guest attachment or guest home already there, saving you the expense.
The mother-in-law house can be actually be called by many names. Some names are: guest house, accessory dwelling, backyard dwelling, cottage, casita, in-law unit, granny flat, secondary dwelling unit, accessory apartment, and multigenerational home. This shows how many uses these back-yard or side homes can accommodate.
According to the National Association of Realtors, “The rooms that buyers were willing to pay the most for were a basement and an in-law suite. Thirty-three percent of buyers would be willing to pay more for … a home with an in-law suite.” NAR does studies nationwide so their sources are very reliable. When you break this down to each state, you must look more closely to the individual city codes, be sure the mother-in-law homes or suites are very well cared for and have private access to provide the best value.
In most cases, adding a mother-in-law home is the single best investment you can make on your home if you have enough land to do it. If you have a choice between a pool or a guest house, the guest house wins as an investment. Because it has a bedroom, bathroom, and kitchen, anyone living there can have a completely independent life. In this economy more homes are multigenerational. Parents are aging and the buyers in their 30’s would rather have a guest house so their parents or grandparents are nearby in case they need help. Adults are living with their parents more often because of student debts, plus low wages, and these guest homes or granny flats take care of everyone’s needs but offer privacy to the entire family. The “granny flat” can even be a value to those that have more money, as an employed nanny can feel as if she or he is off work staying in that guest house, better for the nanny and the family. It helps everyone.
If you are adding a guest home (aka mother-in-law home) you can build it from scratch right on your property (have a licensed builder do good work), or have a pre-fab home delivered, having professional work done. Some of those pre-fab homes cost less than the cost of a good car. The small one is easier to maintain. However, you’ll need to think about plumbing for another home. This amenity will definitely improve the value of your home when you are ready to resell it.
Another option is to have an attachment to your existing home and that’s becoming more popular because you don’t have to add any additional plumbing. That would be a mother-in-law suite and serves all the same purposes as the guest home we’ve discussed above. That could be a room above the garage, the garage itself as long as it’s large enough, or do the construction to add on an attachment to your house. It should definitely have its own entrance with a key. Your house is worth more when you sell it if the mother-in-law suite has its own bathroom and kitchen on the first floor, but at least it should have access to the kitchen with kitchen privileges.
In places like California, the prices of homes are so high that owners are struggling to keep up with the mortgages, so having a guest house or even converting a garage to a “granny flat” with the intention of renting it out is a blessing to help them keep their homes. Governor Brown passed a bill in September 2017 making renting those additions out so now owners can sell their homes at a much greater value
A report released earlier this year from the California Department of Housing and Community Development found that “the Golden State is woefully behind on home production. An average of 80,000 new homes have been built each year over the past decade, the study said, but that falls well below the 180,000 that are needed to keep pace with the state’s ever-growing population.” That’s exactly why the Governor is encouraging owners to add mother-in-law additions to their homes, whether converted garages or guest homes. They add tremendous value to you at no cost to the taxpayers. Just be sure you meet your city codes, save receipts, and enjoy your additional amenity.