In-law apartments are the investment of a lifetime when it comes to property value. Not only do they add to your square footage and make your home more marketable, but they have the extra benefit of becoming rentable living spaces. They pay for themselves quickly, and are sure to relieve some of your financial burdens as well.
In-law apartments are a great way to create more livable space on your property without breaking the bank. While building a new standalone unit can cost the same as a small mortgage, an in-law apartment offers the same benefits at around a third the cost!
Keep in mind that in order to be legally considered an in-law apartment, the structure needs to have its own entrance, a kitchen, a bathroom, and adequate living space.
If you’re considering installing an in-law apartment, you’ll want to remember some key things before you make any serious plans...
1.) What will you use for a heat source? How you plan to use your in-law apartment will affect how you heat it. You’ll want to consider things like extending the ductwork from your current home, installing a separate furnace or boiler, or looking into electrical options like mini-split wall units.
2.) Do you have a plan for plumbing and electric? Where you build will determine what your plumbing and electric options are. Have your trusted remodelers come by to help you determine the right placement, and avoid future headaches when it comes time to build!
3.) A side addition. A popular option is to install an addition that runs the length of your house. These units make it easy to add a separate entrance, and they offer both independence and privacy for you and your renters.
4.) A second story apartment. Whether you have a split level barn, a loft, or an extra-large attic, a second story apartment is another great choice. Keep in mind that it has to be accessible through its own entrance, so exterior stairs may be in order!
5.) Basement apartments. If you have the space and opportunity, you can’t beat a basement apartment. They offer the same benefits of a second story, but with more privacy for both you and the renter. Need help thinking through bathroom placement and plumbing options for your below-ground apartment? Take a look at the recent article we wrote about installing basement bathrooms!
Before beginning the process, don’t forget what your end goal is. Are you looking to keep the kids around, or to offer space to your parents? In those cases, an above-home or basement unit can allow for more accessibility and connectedness with your home. Consider the current shape and floor plans of your house, as well as the layout of your property.
If you’re interested in renting out to the world, you (and your tenants!) may prefer an attached unit with its own single entrance, or a separate living space inside a finished garage. Whatever you choose, make sure you’ve thought it all through with the help of a professional team!
Call your Maryland remodeling experts today. We’ll help you sort out your ideas and offer our own expertise before you begin the project. Get your free estimate, and let’s talk about your new addition!