4 Reasons to Buy a Home with a Mother in Law/In Law Suite/Apartment
What is a mother-in-law apartment?
Oftentimes, a mother-in-law apartment is referred to as a mother-in-law suite, guest house or in-law suite. Often advertised as a home with a second kitchen. Spaces you can to convert to an in law suite:
Finished basement apartment
Detached guest house/finished outbuilding
They typically include a bedroom, bathroom, kitchen, living space and a separate entrance from the primary home. It can be attached or detached and are often rented out to tenants.
What are the benefits of having a mother-in-law apartment?
Purchasing a home with an in-law suite (or building one yourself) has its benefits. Here are the top reasons why owners wish to have a mother-in-law apartment on their property.
Perhaps the most significant advantage is that the rent you receive will help offset the cost of home ownership – namely, your mortgage and other upkeep expenses this can make a huge difference in your monthly budget.