Wondering what to do with your unfinished basement? Why not make it an in-law suite? You don’t technically need in-laws to build an efficiency apartment in your basement. Doing so could add value to your home and provide a great retreat for any guests that come for a visit. Here is a guide explaining what you’ll get with an in-law suite to determine if it is a good fit for your home.
What Is An In-Law Suite?
An in-law suite is an apartment in or near a home that acts as a hotel room or residents for guests that come to visit. Also known as a mother-in-law apartment, this space is most often located in the basement of a home or in a small building on the property. For the purpose of this article, we will talk about converting a basement into an in-law suite, rather than building a completely new house on your property.
Components Of An In-Law Suite
You can make your in-law suite as large or small as you want it to be, but there are some key features that nearly every design has. These include:
- At Least One Bedroom
- A Living Room
- A Kitchen Or Kitchenette (May Be Open To The Living Room)
- A Dining Area (May Be In The Kitchen Or Living Room)
- A Private Bathroom (Toilet, Sink, Shower/Tub)
- Storage Closets Where Available
Your mother-in-law suite may also have a private entrance, depending on where it is located. If you are able to set it up with a separate entrance, you could convert it into an income apartment in the future.
Benefits Of Building An In-Law Suite
The main reason why people convert basements to in-law suites is because they want to provide their family members with a place to stay while they are around for a visit. This will obviously save money on hotel costs, and it will also keep the family members close during their stay.
Another reason for building an in-law suite is because a family member is going to be living with you on a permanent basis. For instance, if your mother is moving in because she is going to care for your children while you are at work, she could use the in-law suite as a mini apartment in your home.
As we mentioned above, in-law suites also make great income properties if they are built with that in mind. You will need to go through a few extra steps to make your basement a true income property, but those steps may be well worth the rent you generate later on.