If you resonate with the other 65 million Americans caring for an elderly parent, you may want to know the cost of a mother-in-law suite.
If so, you’re in the right place. The information discussed in this blog post will be invaluable to you. We want to help you budget for such a renovation, so with that in mind, let’s dive into our sound advice!
What Should You Consider?
Before you dive into the finer details of your plans, you’ll need to consider your project carefully.
If your aging parents are to live there, the property needs to adhere to various senior citizens’ codes. For example, there should be minimal steps inside the suite, and the amenities should be accessible.
When it comes to designing the bathroom, make sure its equipped for wheelchair access. You may also find a holding bar in the shower and next to the toilet will come in useful.
If your parents are especially frail, we recommend installing a panic alert in case of emergencies. You can never be too careful.
It’s also crucial your suite has adequate heating and cooling systems in place. Seniors typically feel the change in temperature more, so it’s important to get this right.
Will You Rent the Space?
If you’re planning on renting your property, you should also consider installing features that’ll make the place more desirable. Do you want to give it a luxurious feel and market it as a holiday rental? Perhaps Airbnb?
Although this is one of the best ways to make your money back, you’ll have more substantial starting costs, which is something to bear in mind when you’re setting out your budget.
How Much Will This Cost?
There are a few things that’ll influence the cost of your new development:
- Where you live.
- Whether you need a new building or whether you’re able to convert an older structure, say a garage. If you choose the latter, you’ll save a bit of money because the foundations will already be in place.
- Your mother-in-law suite will need amenities that enable independent living. For example, a bedroom, a living space, a bathroom and a kitchenette. Naturally, this will be expensive; you need to budget anywhere $40,000 and $125,000.
Do You Now Have a Better Idea of the Cost of a Mother-in-Law Suite?
We hope you have a sounder idea of the cost of a mother-in-law suite. If you enjoyed this blog post, then we’re confident you’ll love the other articles published on our ‘in-law suite design blog.’
Over there we discuss everything from tips for building these kinds of properties to handy advice on bathroom flooring. Enjoy!
Alternatively, if you have any questions about this article, or about how we can help you, please reach out and contact us. One of our friendly support staff will get back to you as soon as possible. Speak soon!