May 15th 2020

Having an in-law suite can not only increase your home’s price point, but it can also allow for way more flexibility and less stress within your family. Especially in today’s times where we are spending a majority of our days and nights at home, we’ve come to realize that any extra space allotted for home dwellers to find some peace and separation is vital.

Value

In short, in-law suites increase the value of your home. Whether or not you’re actually using them for an in-law, the extra space adds square footage, thus upping the return when the time comes to sell. The option of having a separate space for any desired purpose bodes very well for resale! Be aware that some lenders may consider this as an ‘accessory dwelling’ i.e. a part of the home with the potential for renter income.

Demand

How many people actually want or need extra guests staying at their home? The answer is quite a few! Buyers are always seeking out homes with a separated space for visitors of any kind. It also allows for peace of mind to know that, even if not being used currently, the space is there if it’s needed in the future. According to Sue Deily, an agent with RE/MAX 440 in Pennsylvania, the currently high demand for in-law suites will only rise in coming years.

What makes an in-law suite?

A section of the home is considered an in-law suite when it provides everything one may need to go about their day without having to enter the rest of the house. The basic criteria are living space, bed, kitchen or kitchenette, and a full bathroom that includes a shower. Another biggie is a separate entrance so that no overlap whatsoever is necessary.

There’s always hidden potential in a home so if you’re looking for something to take yours to the next level, consider adding an in-law suite! Even if you don’t frequently have family or friends staying over, the extra space is so versatile in between guests. If you’re looking to upgrade to a home with more space, give us a call! We’re happy to talk with you about the current market and answer any questions you may have about your home or future investments.