Welcome to the LivingInLittleton.com Blog

2013-05-02 16:50:10
More Demand for Homes with 'Mother In Law' suites

By Bryan Messick - Home buyer demand for secondary living spaces on the rise in Metro Denver 

Many home buyers in the Metro Denver Colorado region are increasingly calling for properties that include 'Mother-In-Law' or guest suites, oftentimes looking for homes with a second living space with a separate entrance, kitchen, living and bedroom.

During and after the last recession, many families consolidated home and living expenses by sharing living space under one roof.  As the US population ages and the cost of health care continues to rise, many families are looking for alternatives that include planning for a second living quarters that allows for independent living, yet still near family.

Over the years, some home owners have remodeled and finished basements to accomodate family members, including adult children who are not quite yet ready to fly the coop, to senior adults who wish to be near family care-givers.  Some home-builders are also including separate living 'suites' with bonus master bedrooms and kitchenettes.

Additionally, some savvy buyers are finding opportunities to earn rental income from properties that include mother-in-law apartments.  As featured on several tv programs, this can be an excellent means of paying down the home mortgage faster, or saving money for college or retirement.

However, buyer beware:  not all secondary 'living spaces' have been properly permitted by local ordinances, and there may be risks to a homeowner and tenant in the event of unforeseen events such as fire or flood.  Not all homeowner's insurance policies will allow for rental income spaces, and the definition of a 'tenant' may come in to question, even if the person is a family member.

Best advice: work with a real estate professional and be prepared to do some 'due diligence' when investigating the legality of homes with 'mother-in-law' apartments, guest suites and carriage houses.

View this week's free list of homes for sale in Metro Denver CO with 'mother-in-law' suites and apartments

Blog Archive
2019-08-20 17:08:08
The Benefits of Growing Equity in Your Colorado Home

2019-08-20 17:03:17
Colorado Housing Supply Not Keeping Up with Population Increase

2019-05-07 15:43:43
There Could Be a Problem With ‘Multigen’ Homes

2017-01-12 20:21:31
Denver's Real Estate Market Makes U.S. Top 10

2017-01-03 14:56:38
2017 Real Estate Prediction for Denver Market

2016-12-28 14:13:30
2016 Market Recap for Denver Real Estate

2016-12-07 11:59:17
Five Steps to Go From Renter to Home Owner

2016-11-30 11:37:27
Denver Mortgage Rate Update

2016-11-25 18:11:15
3 Important Steps Before You Go Under Contract

2016-01-25 18:26:51
Should I Buy Now Or Wait Until Next Year?

2013-05-06 11:57:29
Denver Metro Mortgage Assistance Plus - FAQ's

2013-05-02 16:50:10
More Demand for Homes with 'Mother In Law' suites

2012-11-02 17:42:00
Buy a Home with 3% Down and NO Mortgage Insurance

2012-09-11 15:05:52
Metro Denver Available Home Supply Down 35%

2011-09-22 16:05:55
Colorado Home, Price and Economic Update released

2010-12-07 16:09:41
Finding rental homes getting tougher in Denver

2010-09-23 16:26:33
Fannie Mae Offers 3.5% to Homebuyers

2010-09-07 17:28:10
5 home buyer tips to get the best mortgage deal

2010-06-24 14:05:24
Fannie Mae gets tough on walk-away homeowners

2010-06-07 16:36:18
Short Supply of Denver Bank Owned Foreclosures

2010-05-28 14:44:35
New Mortgage Rules Scrutinize Borrowers Credit

2010-05-28 13:21:17
Homebuying After Foreclosure - Long Term Effects

2010-05-25 13:34:30
Home Warranties for Colorado Homebuyers & Sellers

2010-05-24 11:21:29
New EPA Lead Based Paint rules you need to know

2010-05-22 16:40:58
One-story ranch style homes gaining in popularity

Click here to see ALL articles.

Comment on this Article

Your Name:
Your Email:
Verify:  Please enter the numbers shown to help eliminate spam.