Exploring the Benefits of Building a Guest House
Guest houses have been springing up more often over the last seven years. In some cases, it’s because Baby Boomers are helping to redefine senior living and are eager to live in close proximity to their children. In other cases, it’s homeowners looking to gain extra income by renting out guest homes, or just improve the value of their property. There are many benefits to building a guest house.
The in-law suite
Guest homes can actually go by more than one name, especially if it’s built with the intent of having mom and dad move in, in which case the spouse will refer to it as an “in-law suite,” “granny apartment” or “granny flat.”
There are 10,000 people a day reaching the age of 65 and they’re making big decisions about how they live out their retirement. This massive influx of seniors requiring healthcare, which will become more and more sparsely available to them in the years to come as supply fails to meet demand in the healthcare industry, is prompting the aging population to seek out living situations that will ease them into their golden years.
The in-law suite is a perfect scenario for them because while they have family close by when needed, they also live independently in their own nearby space. Multi-generational households often come with their own set of challenges. However, with an in-law suite, the burden, whether imagined or real, is lifted off both parties involved.
Families are taking note and taking action: according to the National Association of Home Builders, 62 percent of builders say they are working on projects related retrofitting a home or building a guest homes for the aging population.
Adding value to property
In communities where the population is mainly young singles or newly married couples, the market for a guest home will not be that intense. However, given that more and more couples are looking to accommodate their in-laws/parents, seeking out a new home with a guest house on the property is a major advantage.
Nanny and/or maid quarters are an attractive feature in neighborhoods where young professionals require assistance rearing their children. Furthermore, guest homes are a popular long-term investment for property owners who wish to rent that space out for a handsome price.
It’s not always about money when it comes to value. Consider that having a guest house means that any visitor(s) you have will enjoy the private accommodations while they visit you and your town/city. It’s like they’ve got their own hotel suite. Furthermore, a guest house is an excellent space for a writer, painter, musician or anyone who has a profession or hobby that requires that extra bit of space off the main home.
Taking the first steps
Building a guest house on your property is no small feat. It can also be a big investment, and you don’t want any missteps along the way. That’s why it’s smart to bring in a qualified, certified, knowledgeable and experienced professional to walk you through every step.
When you choose a design and build team like we have at New Concept 180, you get everything you need to build the guest house you’ve envision, all under one roof. We have designers who will make your vision a reality. We also have every piece of the team, from carpenters to electricians to plumbers, who can take care of every detail of the build. Contact us today and let’s talk about your options.