One of the goals of purchasing housing is to purchase for as reasonable a price as is possible. Even if a house is within your budget, you may push to see more that are at slightly lower prices. Sometimes those homes that are at the high end of your budget are worth it, though, because the reason for the higher price can actually make you some money. Sometimes this is due to specific upgrades like totally new wiring and plumbing, but it can also be because of things like an attached granny flat or finished attic.
Money From Renters
When your house has this extra space that's ready for someone to occupy it, you can rent it out to students or others who just need some cheap housing. You'll want to be sure everything in the space is up to code and that your city or county allows you to use this as an auxiliary living space; some places still don't accept the use of these spaces without permits or other permissions. However, granny flats, garage apartments, and more are common throughout the country, so the chances that you can use the space as a rental are good.
An Office for a Side Gig
You could also turn the space into a home office, either for remote work or a side hustle. Maybe you want to start writing, or you'd like to create your own little study that's separate from the rest of the house. No matter what, a finished space like this could be the perfect quiet spot that you can escape to when you want to continue building your side-gig empire.
A Reserved Space for Classes, Day Care, and More
You could also turn the space into a study for your classes, a site for a (licensed) home day care, or more. These units should be wired and insulated just like the rest of the house, but the separateness, and the private entrance, make them ideal for purposes where other people need to come over. Maybe you want to teach something like yoga; you can – when there are no pandemics happening, of course – turn that auxiliary unit into your yoga studio.
The houses with finished auxiliary units are going to cost more than similar homes that don't have that separate space. But the extra money you spend could turn out to be a moneymaker for you. Think carefully about it, and then call your real estate agent to discuss listings that may have these spaces ready to go.Share