The pros and cons of an in-law suite
Privacy can sometimes be hard to come by in a home. After all, everyone is sharing the same kitchen, bathroom, and other amenities.
One common way to create a private place within a residence is to establish an in-law suite – also known as a mother-in-law suite. Robin Shreeves, writing for Realtor.com, says these suites can be attached to a home or located in a small, separate structure on the lot.
In-law suites can often be carved out of the existing layout of a home as well. Maureen Blaney Fleitner, writing for the home improvement professional Bob Vila, says some options include finishing a basement, enclosing a porch, renovating a garage, or combining two bedrooms.
In-law suites are usually separate, private areas which at a minimum have a bedroom and bathroom. These suites frequently have their own kitchen and a separate entrance as well.
In-law suites can make your home more attractive and functional, especially as multigenerational households and short-term rentals become more popular. However, you’ll also want to make sure you’re prepared for the challenges this type of feature can bring.
Benefits
Whenever you add livable space to your home, you’ll likely increase its value. All Star Construction, a company in Houston, Texas, says the extra space will make your home more comfortable and functional.
As the name suggests, in-law suites are a good way to stay close to an aging parent. The space allows them to maintain their privacy and independence, while also spending more time with their children and grandchildren.
The arrangement can also make it easier to provide care for either young children or aging parents. Litchfield Builders in Hamden says retired parents living in an in-law suite may be able to provide child care, saving you money which otherwise would have gone toward a daycare. The suite can also be used as accommodations for a live-in nanny or caregiver.
In-law suites are also quite versatile. They can provide good intermediate housing for adult children who are in transition, such as those who have graduated college but not yet found a job. If the suite isn’t occupied by a family member, it’s a perfect place for visiting guests to stay. In-law suites also function well for uses such as home offices and fitness studios.
The separate, apartment-like space is perfect for a rental. Depending on its size and accommodations, you might advertise it for either short-term rentals or long-term tenants. This use provides you an additional revenue stream in the form of monthly rental payments.
Drawbacks
If you use an in-law suite as rental space, you’ll have to be prepared to act as a landlord. Jeanne Sager, also writing for Realtor.com, says this includes setting rules for tenants, complying with state and local laws, and handling any necessary maintenance or repairs.
You’ll also be responsible for screening any potential renters and dealing with problematic tenants. This may include starting an eviction process for tenants who violate your rules or fail to make payments, and this process can be lengthy and expensive.
When family members are using the in-law suite, the living arrangements can take some getting used to. Litchfield Builders says that even though they’ll have their own private part of the home, you’ll still see these family members more often and have to become accustomed to their quirks and routines.
While the versatility of the space is a benefit, it can also lead to sudden shifts in how you use your home. For example, you may need to go from renting out the suite to housing a parent in need of extra care.
For those who only want to occasionally host holiday get-togethers or other family visits, an in-law suite can be problematic. Since the suite often provides additional space to house visitors, you might find yourself being volunteered for hosting duties more often.
See more at…https://www.theday.com/article/20181214/BIZ04/181219820
P.C. https://roeserconstruction.com/portfolio/st-louis-father-law-suite/