10 Nov In-Law Apartments on Fire, According to WSJ
Want to boost your home value? The Wall Street Journal suggests inviting your mother-in-law over, as space for aging parents is a hot real estate amenity now.
Building on-property units for parents and in-laws is becoming increasingly popular and builders are hoping to join the trend.
It doesn’t matter which type – an independent apartment space in an existing home or a stand-alone, small dwelling on the property –in-law accommodations are a hot amenity for both domestic and foreign buyers. It serves buyers two-fold, bringing adult children peace of mind and adding value to the home.
Zillow recently reported that homes with in-law units, technically called accessory-dwelling units (ADUs), were priced about 60% higher than houses without them.
Builders are jumping on board: PulteGroup rolled out “castitas” (stand-alone units) in its Southwest markets and MultiGen (dwellings built into the main home) in the Southeast. Lennar also created NextGen dwellings, which are part of the main home but have a separate entrance.
Do you think this is the next trend in real estate? How will it affect your market? Share by commenting below!
image courtesy of lennar.com