Maybe your mom has decided to move in or it simply time to expand the home. Adding a guest house to your home has become quite the trend and is proving to be convenient for many. As housing and rental rates are rising, many families have found it cost-efficient to add a guest house as opposed to selling and buying a new home. At Gavish Real Estate, we see a rising number of house guests and even more variety when it comes to the homes. As there are many types of guest houses, it is important to consider the right design for your home.
Many might be thinking a guest house is an entirely separate unit detached from the main home. While this may be true, there are also other desirable amenities like garage conversions, bump-outs, and modular guest houses.
With the help of some great architects and contractors, the garage you once piled unnecessary items in can be turned into a beautiful guest home your family and friends will love. The benefits of converting a garage into a beautiful guest house are that it is cost-efficient. Depending on the features you are going for, garage conversion costs around half the price you will spend on a new addition.
Also known as a micro addition is a great idea for those wanting to add additional space to the home. It is a small expansion and perfect for those in need of a new room. Since a micro expansion will be done to a room that is already in place, it is likely that the expansion is done on work that is already in place. This expansion is one that can add value to the home when deciding to sell.
This is a perfect design if you are looking for a fast and cost-efficient way to grow your home. If you are looking for a creative workspace, office, or extra bedroom in a short amount of time than this is the way to go. Modular homes are customizable so you can have the layout and design of your dreams.
This could be one of the biggest decisions to make on your home. While there are many benefits to adding a guest house to your home, be sure to do all your research and weigh all of your options.
This one might be a given, but if you are noticing that your family has simply outgrown the home than this might be a perfect time to expand. Moreover, this additional space is perfect for when you have guests, in-laws, and other family members who might be staying with you.
While this may be true for most, it is still important to do your research for your home and area. However, in most cases this is similar to painting or updating the home; the project will naturally increase the value of the home.
A bump-out might not be the best option in terms of privacy, but with the other two expansion designs the guest house is a great way for individuals to have more privacy. Another great expansion benefit is more room for kids to play; leaving you with a quite and mess-free space in the main house.
If you are looking for additional income, a guest house turned into a rental can provide $10,000 to $30,000 in additional income a year. Depending on how much you are willing to invest in the design and model, this might be a great way to increase your annual revenue. With many short-term rental services like Airbnb becoming more and more popular, home-owners are looking at it as another source of income.
Whether it is your mom that has decided to live with you or guests that have come for the weekend, having a guest house provides more comfort for you and for them. Everyone will have their space and privacy leaving room for hosting without having it feel too crowded.