Mother/daughter homes are HOT right now. Many of my buyers here in Central New Jersey are couples selling mom and dadâ€™s home along with theirs to save money on taxes and home maintenance by buying and sharing a home that has an in-law suite.
As an example, maybe it was a mutual decision that grandma should move in because she loves watching the young kids, saves on expenses and since she doesnâ€™t get around as well as she used to, her support group is right down the hall.
As a REALTOR, I am often asked what is the difference between a two family home and a mother/daughter home.
- Multi family or two family homes are legally two different residences in which you could live in one and rent out the other(s).
- Mother / Daughter homes have a separate apartment (either with or without a private entrance) and legally cannot be leased.
These are usually larger homes with specific rooms or apartments designed for accommodating elderly parents. In-law apartments may have a separate entrance from the main entrance and could be entirely self-sufficient having a smaller kitchen and utility/laundry room. Other plans may include a privately located first floor bedroom and bath designed to accommodate other family members, or live in help.
A mother/daughter would be the same price to buy a single family home with comparable square footage. Most of these suites are approximately 500 square feet or larger. If you own one, please make sure you have the proper permits through you townâ€™s zoning department. This makes it easier when you go to sell your home. If you are looking to purchase a home with a full in-law suite, have your REALTOR or a Real Estate Lawyer check to make sure it has all the necessary permits before you buy, that is if you are planning to leave it as it is.
If you need assistance in finding a home with an in-law suite or have questions, feel free to contact me at firstname.lastname@example.org.