Multi-Generational Living

• A guest suite is one that usually shares a hallway or bathroom with the rest of the home. Generally, a guest suite won't have its own private bathroom, kitchenette, separate living area, etc.
• An in-law suite, is usually a completely separate, independent living area that is either attached, detached, or it is a completely private space that's attached to the home but offers a 100 percent independent living accommodation.

A guest house is one that usually is detached from the rest of the home. It is perfect for overnight guests and short term stays whether they are for your adult children and their families or for friends, etc. However, a guest house isn't generally the best way to go when you're talking about a permanent living arrangement such as is the case with an aging parent.

When you are talking about a permanent living arrangement, you are probably going to need a customized home addition. Especially if you want what's best for you and your aging parent or adult child.

One of the most popular is intergenerational living, also known as living with your mother-in-law. In fact, 45% of Americans buying a home are considering accommodating an elderly parent of an adult child. Why? One of the biggest reasons is to save money, but there are plenty of other added benefits, like spending more time together.

Even builders are offering specific floor plans to accommodate multiple generations under one roof. For families who can afford it, major homebuilders are now offering "multigenerational" floor plans that make space for three or more generations.

If you work from home but are in dire need of some separation between home life and work life, an in-law suite may be perfect for you. One of the best things you can do for yourself if you work from home is to make a designated workspace. An in-law suite can give you a separate workspace without actually leaving your house. And when you're done for the day, turn out the lights and shut the door on your work email - and the rest of the to-do list, literally.

As you compare properties, the build-out will also be part of your cost
benefit analysis. For example, you may find the perfect location, but that new space might not be functional. You'll have to decide if it makes sense to lease in that area and spend the money and time on the build-out, or if it's wiser to go somewhere else.

Market conditions will also play a big role in whether or not you can find exactly what you need without the expense of a build-out. If there's a lot of product available in a down market, you may strike property gold without too much trouble. However, when demand is high, the best spaces are leased very quickly and what you need may not be available. In a hot market, you may have to modify the space or settle for a property that's not ideal.

The experienced team at Broderick Dean Construction has experience with custom office buildouts. We can work with you to design and build an environment that's beautiful, creates a great first impression and helps you and your team be productive and happy while at work.

PROS:

Instead of buying a bigger home to accommodate one or two extra family members. An in-law suite can be an affordable way to give everyone the space they need.
The added property value it creates. Adding more space, features, and amenities to your existing home increases the property value. Building this separate space increases the square footage of your total property. It also offers a unique upgrade that many large families and multi-generational families are looking for.
Having grandparents close by can be helpful for last-minute babysitting, impromptu family game nights, or family dinners.
An affordable way to give everyone the space they need. Building an in-law suite is also a more cost-effective option to take care of aging grandparents compared to the rising cost of nursing homes and senior care centers. This will allow them to maintain a large portion of their independence while still being close enough for you to help if they need it.

CONS:

Once you build an in-law suite, you can no longer use the excuse that you don't have enough space for out of town visitors. If the idea of having guests in your space for long periods of time makes you feel anxious or overwhelmed, you may want to reconsider creating a space specifically for long-term visitors. As they say, "if you build it they will come."
More space means more cleaning and more maintenance. Even if your in-law suite is not very big, it will still require regular maintenance. Having guests in and out of this bonus space could mean you see more wear and tear in that area, which would require more repairs, replacement, and cleaning.