An in-law apartment, sometimes referred to as a granny flat, is an additional space in your home that can be used to house a live-in nanny, an aging parent or another relative, or visiting guests. It can be built in your basement, a converted garage or even as a separate structure from the main house. Unsurprisingly, a space like this can bring numerous benefits for your household. such as an extra storage space for your items or extra income if you ever decide to rent it out. Also, there are many things that you have to consider before you have one built or buy a home with a granny flat.
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Budget – If you have plans of building a mother-in-law apartment on your property, consider your budget first, and make sure you have the amount you need for it. If you do, then you can build as you please, but make sure you have an exact purpose for it. Should you buy a home with a granny flat, on the other hand, keep in mind that you’ll likely have to pay extra for it.
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Regulations – Check with your homeowners’ association (HOA) or city zoning regulations first if you have plans of building a mother-in-law apartment. The regulations and HOA rules may not allow a separate structure to be built in your home, and you might have to tear it down, resulting in a waste of time and money.
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Contractor – Should your zoning regulations or HOA rules clear you to construct a granny flat on your property, make sure you hire a contractor of good repute. The person should be licensed and experienced. The contractor may even be able to assist you with the paperwork and obtaining the necessary construction permits.
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Utility Costs – Consider the utility costs when building your granny flat or buying a home that comes with one. The additional structure will add to your electricity, water, heating and cooling cost. So, if you’re not keen on paying extra for this, then it might be best to forego your plans of having a mother-in-law apartment at home.
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Maintenance – Of course, you’ll also have to pay to maintain the additional structure. From vacuuming the floors to clearing gutters to replacing the light bulbs, having a mother-in-law apartment is additional work. If you don’t have the time to maintain it, then it’s best to not have one at all.
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Insurance – Insurance costs are another thing to consider when having a mother-in-law apartment. Not all home insurance policies will agree to cover an accessory dwelling unit, putting the structure at risk. If you plan on renting it out to tenants, you may need to pay extra for additional insurance to properly protect your home.
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