Thinking of buying a home with a guest house in Tucson or Oro Valley?
For some, the thought of having family (parents, in-laws, adult kids) move in with them is the precursor to nightmares. Consider adding two or more people into the space you already occupy; there’s usually no way for everyone to feel comfortable or have their truly own space. Even a short visit from friends or relatives can leave craving your own space again.
Fortunately, there’s an easy real estate property solution for that: Buy a home with a guest house or guest quarters (commonly known as a Mother-in-Law suite).
It’s not a new concept, but one that is growing. Whatever you call it, an in-law suite, guest house or attached apartment, it can be the perfect solution to adding family…without the headaches.
According Pew Research Center, a record number of people in the U.S. (60.6 million people, - 19% of the population) are living with two plus adult generations under the same roof, as of 2014, based on U.S. Census Bureau data.
Between 1950 - 1980, the population living in a multigenerational household dropped from 21% to 12%. But the number of multigenerational households has been growing since the early 1980s.
Generally, this has been a traditionally accepted situation in many cultures. But it’s not just racial or ethnic minorities bringing U.S. families together. A rise of this came during the Great Recession as people struggled to afford housing and foreclosures forced extended families under one roof. Asian, black, Hispanic and white identifying (in the U.S.) all saw increases in generational family living between 2009 – 2014. It’s a growing trend.
Whatever the reason, many people are seeing multigenerational housing as a smart move. Even if your family members don’t live with you yet – or you’re not sure you want them to – taking advantage of the growing list of options for multigenerational housing might be smart investment.
As the growing share of U.S. residents living in multigenerational households reveals, the demand for housing options is rising to accomodate expanded family.
Builders are experience growing demand for this option. If you’re considering having more family members under one roof in the next few years – especially if you’re having a home custom built – it may be worth adding a guest house or a suite with its own entrance, so those family members can remain close by, but maintain their own independence.
Supreme Guest Space
Don’t need a space for family members quite yet? Use it as the ultimate guest quarters or personal space and decorate it to your current needs – whether that’s a secluded home office or a gathering area for entertaining.
The guest suite concept even translates to luxury condo communities. In some, buyers are able to add a separate guest suite onto their condo home purchase.
A Perfect Income Opportunity
Yes, guest houses are often rented for out-of-town travelers looking for something more than just a hotel room.
If adding extra living space to your home has you seeing dollar signs, there is the real potential of making the additional space into an income property by renting it out to long-term tenants, or even listing it on short-term rental sites like Airbnb and VRBO.
Be forewarned: Adding space with the intention of making an income may be prohibited in your area. Check you zoning laws carefully first. Many homeowner’s associations also frown on the practice.
If you can proceed, be sure you understand that certain kitchen appliances can mean the difference between a guest suite and a separate home – this may also violate residential zoning. As a result, many in-law or guest suites are outfitted with kitchenettes, including only a sink, small refrigerator and microwave vs. a stove or anything resembling a full kitchen.
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EXAMPLES of HOMES on the market with a guest house in ORO VALLEY
Tucson, AZ 85742 • #21827362
Oro Valley, AZ 85755 • #21831610
Tucson, AZ 85737 • #21831626
Oro Valley, AZ 85755 • #21824085
Marana, AZ 85658 • #21831913
Oro Valley, AZ 85737 • #21824291