Ever wondered what it would be like to have more space? Considering moving your extended family closer to home? Or perhaps you’re simply looking for a way to earn extra income every month. Whatever your reason for considering one, guest house additions are quickly becoming one of the most commonly requested home additions in 2021.
From rental units to mother-in-law suites, guest houses are extremely versatile and bring an abundance of benefits to any property. Here are our top 5 benefits of building a guest house on your property.
Additional Living Space
Whether a self-contained basement suite or a garage house, the most obvious benefit of a guest house addition is the extra space you gain. This additional living space opens up a world of opportunities, from a place to get away from it all to a temporary living space for guests and even potential rental income. And the best part about all this extra space is that you get to do whatever you want with it!
A Private Getaway
Guest house additions make for a great place to host visiting friends or family. Not only does hosting visitors on your property do away with back-and-forth trips to hotels, but it offers additional conveniences, like a private kitchen or separate bedroom, most hotels don’t. Guest houses aren’t just for guests, however. They make for great private quarters for your adult children and are a great place to set up a home office or enjoy a couple of hours of peaceful isolation.
Ideal for Multigenerational Living
As more and more Canadians embrace the idea of living with their extended family, many are looking for ways to share living space without impacting their current household dynamic. A guest house addition offers the perfect solution to families looking to live with their in-laws while giving everyone the independence they need and deserve. You gain all the benefits of having family close by at all times without having to sacrifice privacy, independence, or personal living space.
Potential for Rental Income
As property prices continue to rise, more people are choosing to rent their homes. This offers homeowners considering a guest house addition a great opportunity to earn extra income. While the initial costs may seem high, renting out your guest house can give you a great return on your investment and prove to be a viable long-term income opportunity. Over time, your guest house will pay for itself and you’ll be left with a steady stream of passive income you can use to help pay your mortgage, build up your nest egg, or contribute to your retirement.
Increases Property Value
With more people recognizing potential rental income or multigenerational living opportunities offered by guest houses, plenty of homebuyers are actively looking to buy properties with existing guest house additions. Even something as simple as a small, detached room built above your garage can have a tremendous impact on the price of a home. While your main motivation behind a guest house might be the extra living space, it goes without saying that adding a guest house will increase the value of your property should you decide to sell.
Which guest house addition benefits sound most appealing?
Let us know, and our team of experts will make it happen. Kurmak Builders is one of Calgary’s leading custom home renovation companies. We know that getting any work done on your property can be challenging and make it a point to take the stress and guesswork out of any project we work on.
Are you in Calgary and considering a guest house addition? Then take a look at our full range of HOME ADDITION AND EXTENSION SERVICES. Building on your vision and refining it to be the best it can be, our goal is to exceed your expectations and turn your dreams into reality. CONTACT US today to get started.