Privacy is a premium in most households, particularly if you are sharing living space with a big family or an extended family member. One popular way to create a residence within a residence is to add on a mother-in-law suite.
A mother-in-law suite is a separate living space within or near your home that is comfortably and conveniently close (but not too close!). Most mother-in-law suites typically contain a bedroom and a bathroom, while some even have separate entrances, their own kitchens and their own living rooms. Sometimes they are located on a lower level of a home that have walk-out basements and a door to the outside. They could also be located in an attached or unattached garage, a room in the home that is not being utilized, a remodeled attic, or a free standing unit on your property, also referred to as an accessory dwelling unit (ADUs).
Stay close to an aging parent
If you want to be able to help a parent while still giving them independence, a mother-in-law suite can be a great solution. It’s a functional space for multiple generations to live together. Aging parents may also be able to provide childcare for their grandchildren, sparing working parents from skyrocketing daycare bills.
A living space for a nanny or caregiver
If you choose to hire a nanny or caregiver to take care of your children while you are at work, the nanny or caregiver can live in your mother-in-law suite.
An option for transitioning adult children
A mother-in-law suite could house an adult child who just graduated from college and is paying off loans, who is in between jobs, or who is waiting for a new house to close or be built.
A comfortable place for guests
A mother-in-law suite can be used for out-of-town family or friends, or when that significant other accompanies your college-aged child home for the weekend.
A functional home office
If you work from home and need to separate your work environment from your home environment, a mother-in-law suite is an ideal space to set up a home office. Turn off the lights and close the door at the end of your workday and keep your main living space a work-free zone.
A private fitness center
Save money on a gym by converting your mother-in-law suite into a fitness center for a treadmill, weights or for on-demand exercise programs.
Rental income
Earn extra income by making your mother-in-law suite available to rent on airbnb or Vrbo.
While new additions or upgrades to your home can certainly increase its value, nothing protects your assets more than having proper insurance coverage from a reliable company. Since 1877, SFM Insurance has been committed to finding secure, personalized risk management solutions and communicating them in an easy-to-understand way that allows us to be trusted advisors to businesses, friends and neighbors throughout Ohio, Kentucky, Indiana and beyond. Call 937-382-2546 for your free quote today! For more tips and our latest updates, visit us on Facebook, Twitter or LinkedIn!
